First Digital CEO: Hong Kong Should Try to Speed Up Cryptocurrency Regulation
Vincent Chok, CEO of First Digital, a Hong Kong-based cryptocurrency custody service provider, said, "Hong Kong's current trading regulations are more conservative and slower than some other jurisdictions, which is understandable as it prioritizes investor protection." However, he pointed out, "We hope to see the regulatory pace accelerate to ensure it doesn't fall behind the rapid development of the industry."
Hong Kong is committed to positioning itself as a global hub for cryptocurrencies, and currently has only two fully licensed virtual asset trading platforms: Hash Blockchain and OSL Digital Securities. Many other crypto exchanges are still waiting for full operating licenses in Hong Kong.