香港场外虚拟资产认证引起业界褒贬不一

针对香港新提出的虚拟资产场外交易认证机制，业内人士反应不一。证券及期货事务监察委员会（SFC）规定只有比特币和以太坊可以在经过认证的平台上交易，这引发了人们对限制场外交易市场的担忧，特别是考虑到对稳定币交易的限制。虽然咨询过程已经结束，但利益相关者继续要求重新评估 OTC 认证机制，理由是小型 OTC 企业的财务负担以及需要制定适应多样化市场需求的法规。

Hong Kong's OTC Virtual Asset Trading Certification Mechanism Faces Mixed Reactions from Industry Players

香港场外虚拟资产交易认证机制业界反应不一

Amidst a flurry of regulatory developments in the cryptocurrency landscape, Hong Kong's proposed certification mechanism for over-the-counter (OTC) trading of virtual assets has elicited a diverse range of responses from the industry.

在加密货币领域的一系列监管发展中，香港拟议的虚拟资产场外交易（OTC）认证机制引起了业界的不同反应。

The proposed framework, outlined in a consultation paper issued by the Securities and Futures Commission (SFC), seeks to bring OTC virtual asset trading platforms under the regulatory purview of the authority. Critics argue that the proposal's stringent measures, which include limiting tradable assets to only Bitcoin and Ethereum, could stifle the OTC market and hinder innovation.

证券及期货事务监察委员会（证监会）发布的咨询文件中概述了拟议的框架，旨在将场外虚拟资产交易平台纳入监管机构的监管范围。批评者认为，该提案的严格措施，包括将可交易资产仅限于比特币和以太坊，可能会扼杀场外交易市场并阻碍创新。

"The OTC market has long been an integral part of the virtual asset ecosystem, providing liquidity and facilitating access to a wider range of assets," said Alex Chim, CEO of Hong Kong-based OTC trading platform Babel Finance. "Limiting OTC trading to a select few assets, particularly excluding popular stablecoins like USDT and USDC, would severely impact market participants."

香港场外交易平台 Babel Finance 首席执行官 Alex Chim 表示：“场外交易市场长期以来一直是虚拟资产生态系统不可或缺的一部分，提供流动性并促进更广泛的资产获取。” “将场外交易限制为少数资产，特别是排除 USDT 和 USDC 等流行的稳定币，将严重影响市场参与者。”

Furthermore, the consultation paper proposes imposing rigorous compliance and anti-money laundering (AML) requirements on OTC platforms, which industry representatives argue could place an undue financial burden on smaller businesses.

此外，咨询文件建议对场外交易平台实施严格的合规和反洗钱（AML）要求，行业代表认为这可能会给小型企业带来过度的财务负担。

"Smaller OTC platforms may not have the resources to implement the same level of compliance as larger exchanges," said Jenny Yu, CEO of Hong Kong-based OTC trading platform Cumberland. "This could lead to a consolidation of the industry, limiting competition and reducing investor choice."

香港场外交易平台 Cumberland 首席执行官 Jenny Yu 表示：“较小的场外交易平台可能没有资源来实施与大型交易所相同水平的合规性。” “这可能会导致行业整合，限制竞争并减少投资者的选择。”

Despite the concerns, some industry players acknowledge the need for regulation to enhance investor protection and combat illicit activities. However, they urge the SFC to adopt a more balanced approach that balances regulatory oversight with market innovation.

尽管存在这些担忧，一些行业参与者承认需要进行监管以加强投资者保护并打击非法活动。不过，他们敦促证监会采取更加平衡的方法，平衡监管监督与市场创新。

"We understand the SFC's intention to establish a robust regulatory framework," said Richard Liu, CEO of Hong Kong-based OTC trading platform Deribit. "However, we believe that the proposed certification mechanism should be more flexible to accommodate the diverse needs of market participants."

“我们理解证监会建立健全监管框架的意图，”香港场外交易平台 Deribit 首席执行官刘强东 (Richard Liu) 表示。 “不过，我们认为拟议的认证机制应该更加灵活，以适应市场参与者的多样化需求。”

Industry stakeholders have engaged with the SFC, advocating for a middle ground that allows for responsible OTC trading while promoting the growth of the virtual asset industry in Hong Kong.

行业利益相关者已与证监会接触，主张采取中间立场，允许负责任的场外交易，同时促进香港虚拟资产行业的增长。

"Hong Kong has the potential to become a major hub for virtual asset trading," said Sam Bankman-Fried, CEO of FTX Trading. "By implementing a well-calibrated regulatory framework that fosters innovation and ensures investor protection, the city can attract global liquidity and drive the development of the industry."

FTX Trading 首席执行官 Sam Bankman-Fried 表示：“香港有潜力成为虚拟资产交易的主要中心。” “通过实施精心调整的监管框架，促进创新并确保投资者保护，该市可以吸引全球流动性并推动行业发展。”

The SFC's consultation period has now closed, but the authority remains open to receiving feedback and suggestions before forwarding the proposed bill to the Legislative Council for consideration. The industry eagerly awaits the outcome of these discussions, hoping that the final regulatory framework will strike an optimal balance between investor protection and market growth.

证监会的咨询期现已结束，但在将拟议法案提交立法会审议之前，该机构仍愿意接受反馈和建议。业界热切等待这些讨论的结果，希望最终的监管框架能够在投资者保护和市场增长之间取得最佳平衡。

In a separate development, Hong Kong has granted trading approval for Bitcoin ETFs and Ethereum ETFs, signaling the city's continued commitment to the cryptocurrency ecosystem.

在另一项进展中，香港已批准比特币 ETF 和以太坊 ETF 的交易，这表明香港对加密货币生态系统的持续承诺。