Hong Kong Monetary Authoritystated that they will allow the crypto ecosystem to form, but this will happen in the light of strict regulations.
In the past months, the crypto industry has experienced a short-term rise. hong Kong is tightening its foothold on crypto. Especially Asiain the lead role of the developments called hong Kongstarted to provide clarity on regulations.
Hong Kong Focused on Crypto Regulations
Bloomberginterviewed with hong KongMonetary Authority Chief Executive Officer Eddie yue, gave the message that crypto regulations will be strict.
Driven by the desire to strengthen the digital asset sector and become the center of sophistication hong Kongnow has its eyes on regulations.
Moreover Hong Konglicensing process for cryptocurrency exchanges and digital asset providers June 1 It plans to start in . Sharing an opinion on yuesaid that they are ready to provide further guidance for banks in serving their crypto clients.
During the interview Sue, “We’re going to let them build the ecosystem here, and that actually brings a lot of excitement. But that doesn’t mean light-touch editing.”said.
