According to reports from Wu, the Hong Kong Securities and Futures Commission and the Financial Services and the Treasury Bureau have announced a consultation document, requiring activities such as cryptocurrency trading, withdrawals, and exchanges for fiat currency to obtain a license, bringing over-the-counter trading platforms for virtual assets under regulation. The new rules require trading service providers to have a minimum paid-up capital of 5 million HKD, custodians to have 10 million HKD, and must have two responsible personnel approved by the Securities and Futures Commission.