Hong Kong Securities and Futures Fee (SFC) CEO Julia Leung Fung-yee tackle Hong Kong’s adoption of Web3 laws following the collapse of crypto trade FTX in November 2022, stating that crypto buying and selling is a crucial a part of the digital asset ecosystem.
Throughout his speech, Leung reportedly defined that the brand new licensing system for digital asset suppliers would guarantee investor safety whereas bearing in mind the dangers that monetary establishments face. In his view, integrating digital asset suppliers into the regulatory system was the one option to embrace innovation and construct market confidence after FTX’s chapter.
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