Gate Group in talks with Hong Kong authorities over crypto policy, regulation News โธ Hong Kong โธ Regulation
Gate Group in talks with Hong Kong authorities over crypto policy, regulation
Gate Group met the Hong Kong Financial Services and Treasury Bureau and the Securities and Futures Commission to discuss virtual asset regulation.
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Updated: Dec. 21, 2022 at 11:57 am UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Gate Group said it discussed Hong Kong’s recent policy statement on virtual assets in a closed-door meeting with the Financial Services and Treasury Bureau (FSTB), the Securities and Futures Commission (SFC) and Invest Hong Kong, according to a company statement.
The purpose of the meeting was to address industry leaders’ questions and concerns regarding policy and regulation. The watchdogs are also looking to encourage virtual asset exchanges to consider license requirements.
Gate Group said that they support the SFC’s recent efforts to regulate virtual asset trading platforms and license virtual asset funds.
Gate Group CEO Lin Han said:
“We are pleased to have had the opportunity to attend this important meeting and share our thoughts on the future of virtual assets in Hong Kong. We believe that a clear and consistent regulatory framework is essential for the growth and development of this sector, and we are committed to working closely with regulators and industry stakeholders to achieve this.”
Gate Group’s Hong Kong-based company, Gate HK, has obtained the Trust or Company Service Provider (TCSP) License โ confirming the firm’s position as a global leader in the virtual asset service industry.
Gate.io โ part of Gate Group โ also recently launched a $100 million industry liquidity support fund in efforts to support and help restore confidence in the crypto industry.
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Josh O'Sullivan
Josh has been writing for a decade and is passionate about mainstream crypto adoption, bringing positive financial change to the masses through crypto and decentralized finance as a whole.
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