Hong Kong Securities and Futures Fee (SFC) CEO Julia Leung Fong-Yi stated: handled Hong Kong has adopted Web3 rules after the collapse of crypto alternate FTX in November 2022, stating that cryptocurrency buying and selling is a vital a part of the crypto asset ecosystem.

In his speech, Leon reportedly defined that the brand new licensing system for digital asset suppliers would guarantee investor safety whereas making an allowance for the dangers confronted by monetary establishments. In her view, incorporating cryptocurrency suppliers into the regulatory system was the one solution to embrace innovation and strengthen market confidence after FTX’s chapter.

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