According to online reports, Ip Zhiheng, executive director of the Intermediary Department of the Hong Kong Securities and Futures Commission, said that the first priority in the short term for launching new regulatory licenses for over-the-counter trading of virtual assets and virtual asset custody will be to cooperate with the Hong Kong government to consult and submit legislative drafts on the two new licenses. It is expected that legislation will take at least one year, and full implementation may take about one and a half to two years. In addition, Ye Zhiheng also revealed that as the market develops, it will consider expanding the product choices of professional investors and disclosing the adjustment plan of the market mechanism.