[Evening News Briefing] China's State Council to Improve Virtual Asset Supervision Framework, etc.
Original headline[저녁 뉴스브리핑] 중국 국무원, 가상자산 감독 틀 보완 外
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China’s State Council has proposed tightening its virtual-asset oversight framework, including stronger supervision of real-world asset tokenization, underground-finance detection and mining management, in a report submitted to the NPC Standing Committee by PBOC governor Pan Gongsheng on Nov. 3. Separately, Hong Kong’s Securities and Futures Commission said in consultation conclusions on Nov. 6 that it will amend legislation to restrict misleading names used by unlicensed virtual-asset trading platforms, with the changes to go before LegCo for review and approval. The moves signal that Beijing and Hong Kong are both tightening the rules around digital assets even as Hong Kong positions itself as a regulated crypto hub. What to watch next is how the State Council’s framework translates into concrete rules for tokenization and mining, and how quickly Hong Kong’s naming curbs take effect.
Muhabbit's AI wrote this summary in its own words from TokenPost's report and translated it from Korean. It can get details wrong, so check the source.
Named in this story
State Council of China, Hong Kong Securities and Futures Commission, People's Bank of China, Pan Gongsheng, National People's Congress Standing Committee