Hong Kong crypto frenzy, DeFi token surges 550%, NBA China NFTs — Asia Express – Cointelegraph Magazine
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Our weekly roundup of stories from East Asia curates the business’s most necessary developments.
Hong Kong strikes bullish
On Feb. 20, the Securities and Futures Fee (SFC) of Hong Kong launched a session on its proposed regulatory necessities for digital asset buying and selling platforms.
The SFC requires the licensing of all cryptocurrency exchanges working in Hong Kong, or soliciting providers from Hong Kong buyers, by June 2023.
As well as, the SFC stated it’s going to search suggestions on whether or not licensed platform operators needs to be allowed to offer providers to retail buyers and what measures needs to be carried out to make sure suitability and token inclusion when establishing enterprise relationships with clients.
At the moment, retail buying and selling of cryptocurrencies is banned in Hong Kong. The announcement that the particular administrative area of China was dipping its toes again into crypto instantly set off bullish reactions from on a regular basis customers and executives alike. Brian Armstrong, CEO of cryptocurrency change Coinbase,wrote:
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