The Hong Kong (SFC) securities commission is looking to increase its workforce, with more than half of the additional roles dedicated to cryptography regulations, according to a two -year budget plan presented to the Legislative Council, the Legislative Body The region known as Legco.
Despite the freezing of his effort during three of the five exercises since 2020, he seeks to add 15 other people, of which eight will devote themselves to the crypto, because the regulator strengthens its commitment to regulate the industry.
“Eight of the new enrollments offered aim to improve the support of the allocation to virtual asset regulations, market surveys and application,” said the budget presented on Monday.
Growth comes while the Hong Kong administration faces a budget deficit which is expected to reach $ 100 million HK ($ 13 million) this year and should announce budget decreases later this month, South China Morning Post.
In June 2023, Hong Kong launched a new license regime for cryptographic companies. Last year, he indicated that he would also concede suppliers of Stablescoin. The country’s gap bill is still being discussed.
