A financial association in Hong Kong opposes tightening crypto licensing regulations, arguing that it will discourage traditional funds from participating.
Currently, funds can invest less than 10% in crypto without a separate license. The new proposal requiring even 1% investment to obtain a full license is considered too rigid and costly.
The association also opposes mandatory domestic crypto custody, as it complicates Web3 funds investing in early-stage tokens that are not yet supported by local custodians. #JoinGateTradFitoWinGoldPack
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A financial association in Hong Kong opposes tightening crypto licensing regulations, arguing that it will discourage traditional funds from participating.
Currently, funds can invest less than 10% in crypto without a separate license. The new proposal requiring even 1% investment to obtain a full license is considered too rigid and costly.
The association also opposes mandatory domestic crypto custody, as it complicates Web3 funds investing in early-stage tokens that are not yet supported by local custodians.
#JoinGateTradFitoWinGoldPack