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Enabling Innovation in Asset Administration: SFC’s Method

by SB Crypto Guru News
September 27, 2023
in Blockchain
Reading Time: 3 mins read
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Key Takeaways

  1. Christina Choi, Govt Director of Funding Merchandise on the Securities and Futures Fee (SFC), spoke on the Bloomberg Purchase-Facet Discussion board Hong Kong 2023.
  2. Choi emphasised the function of know-how, notably AI and blockchain, in remodeling the asset administration trade.
  3. The SFC is engaged on pointers for tokenization of SFC-authorized funding merchandise.

SFC’s Twin Function in Asset Administration

Christina Choi, Govt Director of Funding Merchandise on the Securities and Futures Fee (SFC), addressed the Bloomberg Purchase-Facet Discussion board in Hong Kong on September 26, 2023. She outlined the SFC’s twin function: defending buyers and upholding market integrity, and strengthening Hong Kong’s place as a worldwide asset administration hub. The SFC goals to steadiness regulation and innovation, making certain that know-how developments like AI and blockchain might be built-in into the asset administration trade with out compromising market integrity.

Expertise’s Affect on Asset Administration

Choi highlighted the fast developments in know-how, particularly mentioning the miniaturization of chip know-how from 90 nanometres to only three nanometres in 20 years. She linked these technological leaps to the potential for “tiny adjustments” within the asset administration trade that might end in important market improvement.

Tokenization of Retail Funding Merchandise

One of the crucial notable factors in Choi’s speech was the dialogue on tokenization of SFC-authorized funding merchandise. Tokenization refers to using blockchain know-how to create digital tokens that signify fractional possession in an funding product. Choi talked about that the SFC is presently engaged on detailed pointers for tokenization, notably specializing in major dealing at this stage as a result of nascent state of Digital Asset Buying and selling Platforms (VATPs) in Hong Kong.

Regulation Permits Innovation

Choi harassed that whereas innovation is essential, it should be balanced with strong regulation to make sure sustainable improvement and investor safety. She cited historic examples just like the International Monetary Disaster of 2007-08 and the fallout of unregulated crypto platforms to emphasise the significance of regulation.

Closing Remarks

In her closing remarks, Choi drew an analogy between regulation and machine studying, stating that simply as “machine studying with out regularization” is problematic, so is “innovation with out regulation.”

Disclaimer & Copyright Discover: The content material of this text is for informational functions solely and isn’t supposed as monetary recommendation. All the time seek the advice of with an expert earlier than making any monetary choices. This materials is the unique property of Blockchain.Information. Unauthorized use, duplication, or distribution with out specific permission is prohibited. Correct credit score and route to the unique content material are required for any permitted use.


Picture supply: Shutterstock



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Tags: ApproachAssetBitcoin NewsCrypto NewsCrypto UpdatesEnablinginnovationLatest News on CryptomanagementSB Crypto Guru NewsSFCs
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