Liang Fengyi: If relevant service providers do not submit a license application, they must end their business in Hong Kong on or before May 31

Leung Fung-yee, the executive director of the Securities and Futures Commission, said that service providers who have not submitted license applications should end their business in Hong Kong by May 31st. The list of applicants is expected to be updated tomorrow.

She also stated at an event that the Securities and Futures Commission issued a letter of recognition for tokenized investment products in November last year, providing very clear guidelines for intermediaries, private equity funds, and others engaged in tokenized securities activities. The content involves due diligence, risk disclosure requirements, and more.

She reiterated that the regulatory principle of the Securities and Futures Commission for tokenized securities products is "same business, same risks, same rules."

Previously, Golden Finance reported that the Hong Kong Securities and Futures Commission stated that virtual asset trading platforms should submit license applications before February 29th, otherwise they must end their business in Hong Kong by May 31st.