Hong Kong SFC discusses removing the 10% minimum exemption for virtual asset management

```htmlJinse Finance reported that on July 6, the Hong Kong Securities and Futures Professionals Association announced that representatives from regulatory authorities, including Ye Zhiheng, Executive Director of the Intermediaries Division of the Hong Kong Securities and Futures Commission, and Chan Ho Lim, Deputy Secretary for Financial Services and the Treasury Bureau of Hong Kong, convened to discuss several specific policy changes. These include: abolishing the previous 10% minimum exemption for virtual asset management, as well as arrangements such as the immediate implementation of new regulations with no transition period. In addition, the Hong Kong Securities and Futures Commission stated that it has communicated with the Hong Kong Securities and Investment Institute (HKSI), and in the future, exams and courses for virtual asset platform practitioners will be separated, exam fees will be reduced, and fees will be aligned with current rates for exams such as Paper 2 and Paper 3. The Hong Kong Securities and Futures Professionals Association also requested a clear delineation between technology services and regulated activities, suggesting that the Securities and Futures Commission establish a more transparent approval timetable and phased reference framework.```