Hong Kong confirms obligation to become a regional crypto center-regulation
Hong Kong confirms obligation to become a regional crypto center-regulation
Hong Kong has confirmed his commitment to become a regional crypto hub after the collapse of the cryptocurrency exchange FTX. "As certain crypto exchanges collapsed one after the other, Hong Kong became a quality stand for companies with digital assets," said a high-ranking government official.
Hong Kong wants to become a regional crypto hub
The finance minister of Hong Kong, Paul Chan Mo-PO, confirmed the city's crypto engagement on Monday at a web3 summit in cyberport.
The finance minister emphasizes that Hong Kong continues to endeavor to become a regional crypto center described :
As certain crypto exchanges collapsed one after the other, Hong Kong became a quality stand for companies with digital assets.
he added that Hong Kong has a robust regulatory framework for crypto that "corresponds to international norms and standards".
Joseph Chan, the Sub -State Secretary for Financial Services and the Ministry of Finance of the Hong Kong government, announced at the same event that the city is preparing to issue more licenses for trading companies for digital assets. In addition, she plans a consultation with cryptoplate forms to explore the potential for the participation of retail in the industry.
Hong Kong urges to become a regional crypto hub despite the collapse of the crypto tour FTX and several other crypto companies who register bankruptcy. Last month, the Securities and Futures Commission (SFC) gave the city of a target = "_ blank" href = "https://apps.sfc.hk/edistributionweb/en/news-and-announcements/news/doc?refno=2pr103" Rel = "noopener"> statement Warning of the risks associated with cryptoplate shapes that offer deposits, savings, income and operating services.
After years of strict regulations, Hong Kong is now urging small investors to make the trade with crypto-assets easier. Elizabeth Wong, Director of Licensing at SFC and Head of the FinTech unit, said in October last year: "We have four years of experience in regulating this industry ... We think that this is actually a good time to think really carefully about whether we are only retained for investors."
In November last year, Julia Leung, another SFC leadership, said The regulatory authority is looking for "active" for a regulatory framework that enables small investors to act in stocks traded funds (ETFs) with an engagement in cryptocurrency futures. In December the first city Krypto-Futures-ETFS
What do you think that Hong Kong becomes a regional crypto hub? Let us know in the comment area below.
Bedy verification : Shutterstock, Pixabay, Wikicommons