LettersMind the gap between Hong Kong digital asset policy and practice
Readers discuss digital asset audits, the danger of setting a ride-hailing cap, and the bigger picture on allowing dogs in restaurants
In barely a year, the Securities and Futures Commission published its ASPIRe road map for growing Hong Kong’s virtual asset market, consulted on new regimes for dealers and custodians, and allowed platforms to offer more products and liquidity. Hong Kong Exchanges and Clearing has set out what listed companies must disclose about digital-asset activity. The architecture is nearly built.
Something is missing one layer down, where no circular reaches: the audit committee. A growing number of listed companies hold digital assets, take them in payment, or partner with a licensee. For them the question is no longer what to disclose – HKEX has answered that – but how the board knows that what it discloses is true.