TechFlow reports that Xiang Feng, Chairman of HashKey Group, said at the Hong Kong Crypto Finance Summer Forum that Hong Kong's current regulatory framework and legal provisions still have significant room for improvement, and he believes enhancements will continue in the future. Many regulations have yet to be released, such as those concerning Security Token Offerings (STO).
By the end of this year, the Securities and Futures Commission (SFC) of Hong Kong is expected to issue a regulatory circular on STO. Crypto finance (or virtual assets) should support Hong Kong's real economy and technological innovation, and STO is a crucial component in achieving this goal. Promoting STO fundraising for technology companies enables crypto finance to connect with the real economy and align with Hong Kong's innovative technology sector. The SFC's regulatory circular can clarify the rules, providing clear guidance for the industry on how to raise funds through tokenization.
