Hong Kong plans to amend the Virtual Asset OTC Operation Act to strengthen supervision

The Secretary for Financial Services and the Treasury of Hong Kong, Christopher Hui Ching-yu, stated that the JPEX incident reflects appropriate and robust regulation, which is crucial for the healthy development of the market. The authorities plan to revise the laws governing the operation of virtual asset over-the-counter (OTC) exchanges and formulate relevant regulatory arrangements, which will be subject to public consultation at a later stage.