Hong Kong Advances Virtual Asset Market Regulations
According to Odaily, Hong Kong's Secretary for Financial Services and the Treasury, Christopher Hui, announced that the government has implemented several measures to promote the development of the virtual asset market. These initiatives include the introduction of virtual asset ETFs on exchanges and plans to regulate stablecoin issuers. The government also intends to regulate custodians and consult the market on the oversight of over-the-counter virtual asset trading. Additionally, certain funds that meet tax ordinance requirements may qualify for tax exemptions.

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