Matthew Cheung from HKVAX believes that the Hong Kong's licensing framework solves the banking issues faced by crypto projects in the region.
With all the new developments happening in the region, Cointelegraph reached out to key players in Hong Kong to learn more about the state of crypto in the region and what the community can expect from Hong Kong in the near future.Animoca Brands co-founder and executive chairman Yat Siu, who wasto Hong Kong’s Web3 task force in July, told Cointelegraph in a statement that the community can expect an increase in “events, activities, and companies choosing Hong Kong as their Web3 headquarters.
“Speaking from my personal perspective, we anticipate robust support for Web3 initiatives from both the Hong Kong government and the local community, including organizations like ours.” Apart from these, both Siu and Cheung said that the trend of the SFC awarding licenses to exchanges is likely to continue in the near future. According to Siu, there has been a significant surge in applications. “The recent approvals are indicative of the Hong Kong government’s and SFC’s willingness to foster a conducive environment for Web3 projects in Hong Kong,” Siu said.
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