Hong Kong Legislative Council member Wu Jiezhuang: Currently, any self-proclaimed licensed OTC dealer is misleading, and the Hong Kong government has not yet issued a license

According to , Hong Kong Legislative Council member Wu Jiezhuang revealed today on social media that the Hong Kong government is about to launch the second round of public consultation on "Legislative Proposals for Regulating Virtual Asset Over-the-Counter Trading". Due to the recent frequent occurrence of related fraud cases and the increased risks during the regulatory vacuum, the use of licensed exchanges is necessary. Wu Jiezhuang also stated that the current virtual asset over-the-counter (OTC) trading legislation has not yet taken effect, and any claims of being a "licensed OTC trader" are misleading. At this stage, no Hong Kong government department has issued a license for virtual asset over-the-counter trading.