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China Central Television’s Segment on Crypto Garners Attention Around the World

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China Central Television aired a segment on Tuesday involving virtual assets, which garnered attention from around the world.

The segment, which is just over a minute long, features bitcoin, nonfungible tokens and is titled “Hong Kong Securities Regulatory Commission: Implementing a mandatory licensing system for virtual asset trading platforms from June 1.”Hong Kong financial regulator the Securities and Futures Commission concluded its consultation on regulating virtual asset trading platforms on Tuesday, which will become effective on June 1.

Guidelines include safe custody of assets, segregation of clients’ assets and cybersecurity standards among other mandates, according to a statement.

The SFC also noted that it “has yet to approve any virtual asset trading platform to provide services to retail investors and most virtual asset trading platforms currently accessible by the public are not regulated by the SFC.”“Hong Kong’s comprehensive virtual assets regulatory framework follows the principle of ‘same business, same risks, same rules’ and aims to provide robust investor protection and manage key risks.

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