Hong Kong’s Financial Services License Permits Trading of Crypto and STOs
- Lu Tingkuang thinks Hong Kong has a convenient crypto licensing regime.
- Hong Kong’s crypto-asset license permits holders to provide services for crypto and STOs.
- Tingkunag believes Hong Kong is careful in approaching the digital assets industry.
The co-founder and chief strategy officer of HKbitEX, Lu Tingkuang, thinks Hong Kong has a more convenient crypto licensing regime than places like Singapore and the U.S. According to Tingkuang, the Hong Kong crypto-asset license permits holders to provide trading services for both cryptocurrencies and security tokens (STOs).
Meanwhile, the FinTech expert highlighted that other countries’ regulators provide licenses for only one, and not both categories of assets. For instance, he cited the U.S.-listed Coinbase, whose license only permits the trading of crypto assets.
In his presentation, Tingkuang noted that most people think Hong Kong is conservative in developing its virtual assets market. Hence, the departure of several crypto giants, who got frustrated and moved away from the region. Contrarily, the HKbitEX chief strategy officer believes Hong Kong is only careful in its approach to the industry. He noted…
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