The Hong Kong Securities and Future Commission (SFC) is looking to increase its template, with more than half of the additional roles dedicated to regulating cryptography, according to a two -year budget plan presented to the Legislative Council, the legislative body of The region known as Legco.
Despite freezing his staff in three of the five financial years since 2020, he is looking to add another 15 people, eight of whom will be dedicated to cryptography as the regulator promulgates his commitment to regulate the industry.
“Eight of the new proposed template is to improve personnel support for regulatory regimes of virtual assets, market surveillance and application investigations,” the budget said on Monday.
The growth occurs when the Hong Kong administration faces a budget deficit that will be forecast that will reach $ HK100 million ($ 13 million) this year and it is likely to announce budget cuts at the end of this month, the South China Morning Post reported.
In June 2023, Hong Kong began a new license regime for cryptographic companies. Last year he said that he would also license Stablecoin’s suppliers. The country’s Stablecoin bill is still being discussed.
