President of the Hong Kong Securities and Futures Professionals Association: There is controversy surrounding the registration of brokerage account limits; the regulatory model for virtual assets shou

CoinFeed reported on March 21 that, according to Hong Kong media outlet Orange News, Chan Chi-wah, president of the Hong Kong Securities and Futures Professionals Association, commented on the controversy surrounding the "pre-registration of designated bank accounts" for brokerage clients. He stated that while the regulatory circular proposed establishing a bank account registration mechanism with a cap, this practice may stem from improperly applying the regulatory approach for virtual assets (such as pre-approval of wallet addresses) to the traditional securities industry. Chan pointed out that while pre-approval is technically reasonable for virtual assets due to the difficulty in instantly verifying ownership via blockchain addresses, traditional securities fund transfers can already be confirmed through mechanisms such as "identity verification," eliminating the need for a blanket restriction on the number of accounts.