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EVENT RECAP: Retail Virtual Asset Trading in Hong Kong!

On 23rd May 2023, the Hong Kong University's iCube buzzed with excitement as industry experts and enthusiasts gathered to participate in a groundbreaking seminar organised by the Association of Blockchain Development and supported by HKU iCube, Hong Kong University Graduates Association, Vietnam Blockchain Association, AAMA Pearl River Delta Chapter, Hong Kong Society of Registered Financial Planners, and Hong Kong Web3 Association. The event, facilitated by our President - Dr. Kyle Wong, and Founder of GreatMeta Limited, focused on discussing the latest policy proposal by the Securities and Futures Commission (SFC) to enable retail investors to trade liquid digital tokens on licensed virtual-asset platforms with regulatory oversight and investor protections alongside:

  • Gary Tiu, Executive Director at BC Technology Group

  • Ben El-Baz, Head of Ecosystem at HashKey Group

  • Jonathan Cheung, Strategy Director at HKBitEx

  • Oswald Chan, Chief Financial Officer at Digital Vision Brands

With Hong Kong's determination to become the leading Web3 hub in the Joint Interchain (JI) Hub, the seminar also shed light on the remarkable opportunities and challenges that lie ahead through the following topics:

💼 The Regulatory Framework For Retail Trading

The first panel discussion delved into the regulatory framework for retail trading. Experts explored the measures proposed by the SFC to ensure robust oversight and investor protections in the digital token trading landscape. Key considerations included maintaining market integrity, safeguarding against fraud and market manipulation, and fostering fair and transparent practices.

💡 How To Obtain Licences To Provide Retail Trading?

The second panel session focused on the process of obtaining licences to provide retail trading services. Industry veterans from leading firms, such as OSL / BC Technology, Hashkey, HKBitEx, and Digital Vision Brands, shared their expertise and insights on the requirements, compliance, and procedures involved in obtaining licences. Their valuable knowledge offered attendees a comprehensive understanding of the necessary steps to enter this emerging market.

🌐 Hong Kong's Journey Towards Web3 Hub

A highlight of the seminar was the discussion on Hong Kong's commitment to becoming the leading Web3 hub in the JI Hub. Panellists highlighted the city's strategic advantages, including its robust financial ecosystem, technological infrastructure, and talented workforce. The potential for blockchain innovation, decentralised finance (DeFi), and NFTs in Hong Kong created a palpable sense of excitement, positioning the city as a global powerhouse in the emerging Web3 landscape.

🌍 Bridging China and the World

Recognizing Hong Kong's unique position as a bridge between China and the rest of the world, the panellists explored the city's role in fostering collaboration and connectivity. They discussed how Hong Kong's established financial system, legal framework, and international outlook provide a conducive environment for Chinese projects to expand globally and for international projects to access the vast Chinese market.

💼 Opportunities and Challenges Ahead

The final panel session delved into the myriad opportunities and challenges that lie ahead for stakeholders in the evolving digital token trading space. Experts highlighted the potential for economic growth, job creation, and technological advancements. Simultaneously, they acknowledged the importance of addressing regulatory complexities, ensuring cybersecurity, and promoting financial literacy to mitigate risks associated with this dynamic industry.


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