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Wu Jiezhuang: Hong Kong will introduce regulations on cryptocurrency custody and OTC this year.

Hong Kong Legislative Council member Ng Kit-chung stated in an interview that Hong Kong is positioning itself as a global hub connecting the cryptocurrency market.

Ng Kit-chung emphasized that Hong Kong should not compete with other jurisdictions but should act as a bridge. He pointed out: "Cryptocurrency and Web3 are highly connected with the traditional financial system." Combined with the Greater Bay Area initiative, Hong Kong can connect the scale of mainland cities, the depth of manufacturing, and technical talent, while providing regulatory clarity and financial credibility. Ng Kit-chung also said that this year Hong Kong will introduce custody and over-the-counter trading regulations and may allow professional investors to conduct higher volume trades.

Ng Kit-chung also stated that the field of artificial intelligence will integrate with cryptocurrency, and Hong Kong holds a unique position in this regard, being able to handle both Western and Chinese data sets and become a platform for global artificial intelligence company cooperation. He believes Hong Kong's advantage lies in maintaining openness, regulation, and interconnectivity, occupying a central position in this still developing system.

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