Wu Jiezhuang, a member of the Hong Kong Legislative Council, stated on social media that he supports the Hong Kong Securities and Futures Commission to strengthen the information dissemination of virtual asset trading platforms and investor education. The virtual asset trading platform was suspected of fraud. As of Saturday (23rd), the police had received reports from 2,305 people, involving approximately 1.43 billion yuan. The incident was widely implicated and attracted widespread social attention. I pointed out that it was too late for the China Securities Regulatory Commission to name JPEX and issue a warning to the public in the middle of this month, which failed to reduce investor losses. In fact, the China Securities Regulatory Commission also has the responsibility to publish the list of virtual asset platforms that are applying to clearly inform the public. Avoid investor misunderstandings.
The China Securities Regulatory Commission held a press conference this morning and announced a number of measures to strengthen information dissemination and investor education, including:
1. Publish multiple lists of virtual asset trading platforms to ensure clear, transparent and timely release of information;
2. Optimize and publish a special list of suspicious virtual asset trading platforms, which will be clearly published on the SFC website and easily accessible to help the public more easily identify suspicious virtual asset trading platforms operating in Hong Kong and increase vigilance;
3. The Securities Regulatory Commission and the Investment Committee will soon launch a series of publicity activities to increase awareness of fraud prevention;
4. The China Securities Regulatory Commission will continue to strengthen intelligence collection on different businesses related to virtual assets within the scope of its legal powers, follow up and take legal action against virtual asset trading platforms that are suspected of violating the law, and refer the case to the police for handling if necessary.
I would like to express my welcome and support for the CSRC to accept my opinions, follow suit and propose optimization measures.
In fact, virtual assets are a new thing with huge room for development. The implementation of many policies and regulations needs to be improved and completed. Therefore, I also wrote to the Chairman of the House Committee of the Legislative Council to propose the establishment of a “Web3 and Virtual Asset Development Subcommittee” as soon as possible. , hoping to discuss and discuss the development of Web3 and virtual assets in the next twelve months, including examining the loopholes in current regulations, such as the recent “thunder” incident of virtual asset trading platforms, and studying optimization measures to ensure the sustainability of Hong Kong’s virtual asset industry and responsible development, and discuss how to strengthen the protection of virtual asset investors and enhance market confidence. I hope that Web3 and virtual assets will develop better in Hong Kong, allowing Hong Kong to gain an international leading position in the virtual asset industry and further enhance Hong Kong’s status as an international financial center.
