Ye Zhiheng: The Hong Kong Securities and Futures Commission will announce new measures this afternoon, allowing virtual asset trading platforms to trade tokenized funds Foresight News reported on site that Ye Zhiheng, Executive Director of the Intermediary Department of the Hong Kong Securities and Futures Commission, gave a speech at the 2026 Hong Kong Web3 Carnival, stating that "the Financial Stability Board (FSB) listed Hong Kong's digital asset regulatory system as' one of the highest levels' in last year's peer review. Looking back at the past 12 months, the China Securities Regulatory Commission has achieved six milestones: allowing platform pledges and recognizing fund pledges; Jointly initiated and completed consultation on virtual asset trading and custody system with the Financial Affairs and Treasury Bureau (summary completed on December 24th); The Crypto Tag automation report initiative was launched in the fourth quarter of last year (also reflected in paragraph 104 of the Policy Address); The perpetual contract framework was launched in February this year, allowing for guaranteed financial funding and affiliated market makers; And initiate bidding for virtual asset accelerators. \Looking ahead to the next 12 months, the work of the China Securities Regulatory Commission will be divided into three major clusters: firstly, innovation regulation. The China Securities Regulatory Commission has adopted a 'buy two get two free' approach to formulate four regulatory systems for virtual asset trading, custody, management, and consulting at once. Last week, it received a 260 page draft of the regulations. At the same time, we will promote custody technology and insurance compensation mechanisms in a dynamic manner; \The second is practical innovation at the product level. This afternoon, the China Securities Regulatory Commission will announce a new measure that will allow virtual asset trading platforms to conduct tokenized fund trading, not limited to tokenized trading. As far as we know, this is the world's first predictable framework for trading tokenized recognized funds on regulated platforms, which will be piloted starting from tokenized money market funds. In addition, the structure of perpetual contracts, ensuring financial and capital adequacy requirements will also be included in subsequent consultations; \The third is collaborative innovation. The China Securities Regulatory Commission (CSRC) collaborates with licensed institutions through initiatives such as Crypto Tag to promote automated declaration, and actively signs bilateral memorandums of understanding with multiple international jurisdictions to avoid cross-border regulatory arbitrage