Hong Kong to Start Regulating Crypto in June 2023, 80 Companies Want to Join

  • More than 80 companies are waiting in line to join Hong Kong’s web3 ecosystem. The region is preparing to launch VA regulations in June 2023.

In October last year, Hong Kong published a statement on the cryptocurrency market regulation, which indicated that it wants to apply the same laws to crypto exchanges as it does to traditional finance companies. Between then and the end of February 2023, a sizable number of domestic and international firms expressed their interest in having a presence in Hong Kong.

23 of the 80 mentioned are already working to build their local presence, including cryptocurrency exchanges, blockchain infrastructure companies or cryptocurrency network security providers.

As of end-February 2023, Invest Hong Kong has received expressions of interest from over 80 virtual asset-related Mainland and foreign companies in establishing their presence in Hong Kong. These companies included VA exchanges, blockchain infrastructure companies, blockchain network security companies, virtual currency wallets and payment companies, as well as other projects on building the Web3 ecosystem," Hui said during the conference.

What is this mean?

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Thanks great news, money flow from Hong Kong so big

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We will see big smart money from Hong Kong & China

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Money :moneybag: inflow to market…

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Great hong kong and china has quite an influence on the crypto market
@asyrafmuza

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thanks bro update info

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thanks the good news, bro

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thank you for info

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