The interpretation of the new crypto policy in Hong Kong, is it bullish?
Xiao Feng, Wanxiang Blockchain CEO Before March 1 next year, it is legal to set up a so-called virtual asset exchange in Hong Kong, if only trading BTC, ETH, etc., no one can stop it. In fact, according to the regulator, before March 1 next year, those who apply for a license to the regulator are a kind of voluntary acceptance of regulation. But March 1 next year, with Hong Kong's anti-money laundering regulations revised in the Legislative Council after the passage of the mandatory licensing system management, that is, no matter how, in Hong Kong do engage in any of crypto or virtual asset-related business, not necessarily to open exchanges, is to provide wallet services need to apply for a license, otherwise it can not be done. How to interpret the new policy in Hong Kong, I think we can interpret it from several levels. The first level is that the head of financial technology of the Hong Kong Securities and Futures Commission, that is, the head of the review of our license menti...