HONG KONG SAR – Media OutReach – 13 February 2023 – Victory Securities held the “HONG KONG’S FIRST VIRTUAL ASSET RESEARCH CONFERENCE”, detailing an overview of the cryptocurrency market and analyzing the impact of external factors on the cryptocurrency market. At the press conference, a panel of experts in the virtual asset industry discussed how to revolutionize the virtual asset industry.
Adam Zhou, Managing Director of Victory Securities, categorically recognized the future value of virtual assets by stating “Through blockchain technology, virtual assets can be traded globally, and Ethereum smart contracts further expand application of cryptocurrency.”
Prominent experts in the field shared their insights at the press conferences, including Alvin Kwock, Founder & CEO of OneDegree, Professor Jack Poon, Professor of Practice at PolyU, Candy Pan, Director of Deloitte Financial Services, Karen Man, Partner at Baker & McKenzie, and Kennix Chan, Executive Director of Victory Securities & VDX, exploring ways to innovate in the virtual asset industry.
Karen Man believed that by bringing virtual assets into an open regulatory environment, international virtual asset investors may come to the Hong Kong market to develop projects such as stablecoins and exchanges.
Alvin Kwock proposed the idea that insurance can be a means to effectively control the risk of virtual assets. However, only 25% of companies have sufficient risk control measures to secure an insurance policy. He believed that there is a huge demand for virtual asset insurance in Hong Kong, leaving significant room for growth in the number of compliance agencies insuring against virtual assets in the next two years.
In addition, Candy Pan believed that regulatory technology and compliance technology (Regtech) are crucial to the development of virtual assets. Through the application of financial technology such as artificial intelligence, it is possible to quickly identify customers and track the flow of money.
Concerning investor risks and regulatory agencies, Kennix Chan pointed out that Hong Kong has a sound traditional financial system that can effectively supervise virtual assets, thereby accelerating the development of the virtual asset industry.
Jack Poon viewed supervision as the first step in the development of virtual assets. To him, development of the technology is essential to ensuring the sustainability of virtual assets in the future.
At the end of the press conference, Kennix Chan spoke about the outlook, “I hope that the Hong Kong Government will communicate more with the industry, educate people about virtual assets and formulate policies to attract talents, so as to set a clear blueprint for the development of virtual assets for the industry to follow.”
For more information about the investment opportunities in global stock markets, please visit Victory Securities’ website at www.victorysec.com.hk.
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The issuer is solely responsible for the content of this announcement.
About Victory Securities
Rooted in Hong Kong for 50 years, Victory Securities (stock code: 8540. HK) offers comprehensive and fully-licensed financial services. It is licensed by the SFC to conduct Type 1 (dealing in securities), Type 2 (dealing in futures contracts), Type 4 (advising on securities), Type 6 (advising on corporate finance) and Type 9 (asset management) regulated activities in Hong Kong.
Victory Securities has also recently obtained consent from the SFC to (i) provide virtual asset dealing services under an omnibus account arrangement; (ii) provide virtual asset dealing services by way of introducing eligible clients to licensed virtual asset platforms for direct trading; (iii) market and distribute virtual asset-related private funds to eligible clients; (iv) provide securities brokerage services to eligible clients with respect to virtual asset-related exchange-traded funds (including exchange-traded virtual asset derivative funds); and (v) provide virtual asset advisory services.
Disclaimer
The information and materials contained in this report are not intended to serve as professional investment advice or other opinions.
There is no regulatory authority oversight of the information and materials contained in this content, and they are not intended to serve as professional investment advice or opinions. It is important to note that this information should not be interpreted as an invitation to buy or sell investment products, or as a basis for making investment decisions, or as professional advice. Before making any investment decision, investors should carefully consider their individual circumstances, including their investment purpose, investment experience, financial situation, and unique requirements.
Dealing in virtual assets is only suitable for professional investors with product knowledge. Due to the volatility and unpredictability of virtual assets in comparison to legal tender, they may result in heavy losses within a short period of time. In this regard, virtual assets are considered to be highly risky. Before making any investment decision, investors should understand the nature, terms, and risks of relevant investment products, review relevant sales documents, and seek appropriate professional advice if necessary.
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This content was prepared by Media OutReach. The opinions expressed in this article are the author’s own and do not reflect the view of Siam News.
