According to the official website, starting from June 1st, the "Guidelines for Operators of Virtual Asset Trading Platforms" will be officially implemented, accepting applications for licenses from operators of virtual asset trading platforms. The Hong Kong Securities Regulatory Commission has emphasized that it has not yet approved any virtual asset trading platforms to provide services to retail investors, and most of the existing virtual asset trading platforms accessible to the public are not regulated by the Hong Kong Securities Regulatory Commission. In response, Zhu Youping, an expert from the Science Committee of the Asian Academy of Digital Economy Sciences, told Securities Daily that virtual assets or "tokens" are mostly generated spontaneously. The Hong Kong Securities Regulatory Commission reminds investors of risks, reflecting its pragmatic and responsible regulatory attitude. When dealing with unlicensed virtual asset trading platforms, investors need to be more cautious when investing, carefully evaluate the reputation and risks of virtual asset trading platforms, try to choose reputable and compliant trading platforms for virtual asset trading, and fully understand and manage risks. Further Clarification of Regulatory Boundary: On February 20th of this year, the Hong Kong Securities Regulatory Commission issued a consultation document on the guidelines for virtual asset trading platforms, soliciting opinions from the public and investors. The consultation period ended on March 31st. On May 23rd, the Hong Kong Securities Regulatory Commission released a summary of consultation documents, disclosing public opinions and responses. On June 1st, the "Guidelines for Operators of Virtual Asset Trading Platforms" will officially come into effect, including multiple standards and regulations applicable to licensed trading platforms. The Hong Kong Securities Regulatory Commission introduced that the new regulatory requirements include arrangements for safe custody of assets, separation of customer assets, and avoidance of conflicts of interest. It will provide additional guidance, other implementation details, and details of transitional arrangements regarding the new regulatory requirements. Providing clear regulatory expectations can promote responsible development. Hong Kong's comprehensive virtual asset regulatory framework follows the principle of 'same business, same risk, and same rules', aiming to provide appropriate investor protection and control of major risks, thereby promoting sustainable development and supporting innovation in the industry, "said Leung Fung yi, Chief Executive Officer of the Hong Kong Securities Regulatory Commission. An Guangyong, an expert from the Credit Management Committee of the All China Association for Mergers and Acquisitions, told Securities Daily that the gradual clarification of regulatory rules will provide enterprises with a clearer business environment and legal compliance guidance, which will help reduce business risks and increase sustainable development opportunities for virtual asset platform enterprises. Zhu Youping further explained that this measure will have a positive impact on the virtual asset market, related enterprises, and investors. This means that enterprises providing virtual asset trading services in Hong Kong can receive policy protection and regulation by obtaining licenses issued by the Hong Kong Securities Regulatory Commission, which is conducive to enhancing the credit and reputation of licensed exchanges. At the same time, it will also enhance the reputation and competitiveness of enterprises in the market, and improve the stability and sustainability of their operations. Moreover, it helps to regulate the virtual asset market, protect the interests of investors, reduce the occurrence of fraud and money laundering, and provide investors with a safer and more reliable trading environment. Investors need to pay attention to risk management. On May 25th, the Hong Kong Securities Regulatory Commission will announce the application form for the relevant license and will begin accepting applications on June 1st. Welcome virtual asset trading platform operators who are ready to comply with the standards of the China Securities Regulatory Commission to apply for a license. As for those who do not intend to apply for a license