Hong Kong Securities and Futures Fee (SFC) Director Normal Julia Leung Fung-yee, addressed Hong Kong adopted Web3 regulation after the collapse of cryptocurrency trade FTX in 2022. in November and says that cryptocurrency buying and selling is a vital a part of the digital asset ecosystem.
Within the speech, Leung reportedly defined that the brand new licensing system for digital asset suppliers will guarantee investor safety in mild of the dangers confronted by monetary establishments. In her view, bringing digital asset suppliers into the regulatory framework was the one solution to embrace innovation and strengthen market confidence after the FTX chapter.
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