Hong Kong’s FSTB has unveiled a balanced AI policy approach for finance while the SFC preps new crypto OTC regulations.
The Hong Kong Financial Services and Treasury Bureau (FSTB) has issued policies for the financial services industry focusing on efficiency, security and customer service improvements to ensure the responsible use of artificial intelligence.
On Oct. 28, the FSTB — the Hong Kong government agency dedicated to building and enforcing policies on finance and treasury — revealed its policy stance on AI adoption in finance.
The FSTB said that Hong Kong’s financial services industry is most receptive to deploying AI into their businesses. The Hong Kong regulator recommended a “dual-track approach” for its financial services industry to foster AI development while addressing potential challenges.
