In Hong Kong, a training institute is taking proactive measures to educate individuals involved in virtual asset trading about the specific operations of the industry. This initiative closely follows the implementation of a new licensing sys-tem for digital trading platforms and exchanges by the city-state.

The Hong Kong Securities and Investment Institute (HKSI) is gearing up to launch a series of programs and workshops dedicated to virtual assets in the coming months, as reported by the South China Morning Post. HKSI's Chairman, Colin Shaftesly, anticipates significant interest in these educational opportunities, particularly among younger generations seeking to enhance their understanding of the digital market. The increased regulation in the field serves as a confidence booster, empowering Hong Kong employees and equipping them with the necessary skills.

Every year, HKSI trains and oversees licensing exams for approximately 30,000 aspiring brokers and asset managers in Hong Kong.

While HKSI will handle the training and exams for the virtual asset programs, the Securities and Futures Commission will determine the timing of the first test. Blockworks has reached out to both HKSI and SFC for further comments on this matter.

Recently, Hong Kong's market regulator introduced stricter regulations for digital asset companies, enabling retail trading in cryptocurrencies since June 1. This move has injected much-needed momentum into the industry, which has faced challenges due to the decline of prominent firms.

Hong Kong aims to attract cryptocurrency enthusiasts by establishing a transparent regulatory framework, which stands in contrast to mainland China's more cautious approach to the industry.

However, striking the right balance between investor protection and business appeal may pose challenges due to the somewhat opaque nature of the crypto industry. Moreover, the success of a crypto-friendly Hong Kong could potentially raise concerns for Beijing, as it may perceive the city's stance as a threat to its control over financial flows in Greater China.

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