The Hong Kong Monetary Authority has signed a memorandum of understanding with the City of London Corporation, aiming to focus on cooperation in areas such as virtual assets.

PANews, June 12 - According to the Sing Tao Daily, the Hong Kong Financial Development Council (FDC) has signed a memorandum of understanding with TheCityUK. It is reported that the cooperation between the two parties will focus on areas such as financial transformation, virtual assets, and capacity building, while establishing a cooperation framework to promote knowledge exchange on regulatory practices, innovative financial products, and emerging Financial Service opportunities. According to previous reports, Nigel Farage, leader of the Reform Party in the UK, revealed plans to submit a new cryptocurrency bill to help the financial district innovate in cryptocurrency and establish a two-year regulatory sandbox.