Liang Feng Yi: Hong Kong will relax licensed cryptocurrency trading platforms' access to the global funding pool.

The Chief Executive Officer of the Securities and Futures Commission of Hong Kong, Leung Fung Yee, announced that Hong Kong plans to relax regulations to encourage cryptocurrency trading activities. Cryptocurrency trading platforms licensed by the Securities and Futures Commission will be allowed to connect local entities to their global order books, and the regulatory guidelines will be released later today (November 3). This move is aimed at breaking the current closed model that only uses orders within Hong Kong and making cryptocurrency trading comply with regulations applicable to traditional assets. Currently, compared to cryptocurrency centers like the United States, cryptocurrency activities in Hong Kong are relatively subdued. Leung Fung Yee stated that Hong Kong regulatory authorities have taken a relatively tough stance, but once they can ensure investor protection, regulations will be relaxed. She also mentioned that in the next phase, regulatory authorities will consider allowing cryptocurrency brokers with local licenses to access global liquidity pools, but did not provide a specific timeline. If implemented, this could attract cryptocurrency trading giants like Binance and Coinbase, who could establish businesses in Hong Kong using broker licenses without the need to spend several years obtaining a full cryptocurrency exchange license.