HKMA Won't Be 'Light Touch' on Virtual Assets Regulation

The video discusses the start of retail trading in Hong Kong on June 1st, focusing on the regulatory framework for crypto trading platforms. It emphasizes the need for a balanced approach to regulation, allowing innovation while maintaining strict controls to prevent issues like those seen with FTX. The video also highlights lessons learned from global crypto incidents and the importance of internal controls.

When is the retail trading expected to begin according to the video?

• July 1st

• June 1st

• May 1st

• August 1st

What principle does Hong Kong use for regulating crypto activities?

• Same activity, different risk, different regulation

• Different activity, same risk, same regulation

• Same activity, same risk, same regulation

• Different activity, different risk, same regulation

What is Hong Kong's approach towards industry innovation in crypto?

• No regulation at all

• Strict regulation with room for innovation

• Light touch regulation

• Complete deregulation

What was a major issue faced by FTX as mentioned in the video?

• Over-regulation by the government

• High operational costs

• Lack of internal controls

• Excessive regulation

How does Hong Kong plan to prevent issues like those faced by FTX?

• By lowering guardrails to a minimal level

• By maintaining high guardrails

• By having no guardrails

• By setting reasonable and sustainable guardrails