PANews reported on February 19 that according to NOW Finance, the Hong Kong Securities and Futures Commission will announce the roadmap for the development of virtual assets this afternoon. Ye Zhiheng, executive director of the Intermediary Department of the Securities and Futures Commission, said at the Consensus Forum that it is not difficult to formulate a roadmap, and the key is how to implement the roadmap. He revealed that there is not just one road, but 12 initiatives.

Ye Zhiheng pointed out that there is no timetable in the roadmap because it is necessary to let the industry and stakeholders rethink how quickly these 12 initiatives can be achieved. However, he said that it will not take a long time anyway because the market changes rapidly and as a regulator, we also need to keep up with the changes and look for low-hanging fruits so that the market can see the results.

The Virtual Asset Advisory Group held a meeting earlier. Ye Zhiheng, chairman of the group, said that the group includes the management of all licensed virtual asset trading platforms in Hong Kong, and they all provide opinions to the SFC, especially whether these initiatives are on the right track. The next focus will be how quickly these visions can be achieved.