TechFlow reports on February 20 that according to the Ta Kung Pao, Hong Kong Legislative Council member Regina Ip said Hong Kong, as the only region in the country eligible to develop cryptocurrency trading, should further relax regulations to expand the industry's scale. She noted that although the SAR government issued a virtual asset development policy statement in October 2022 and established a related regulatory framework, the industry's scale remains relatively small.
Regina Ip emphasized that the fintech industry is particularly suitable for Hong Kong's development, as it is a "light-asset" sector requiring no substantial infrastructure investment and primarily relying on technological innovation such as blockchain. She suggested accelerating improvements to the regulatory structure to create a more favorable environment for industrial growth.
