HKbitEX Co-founder: Hong Kong's crypto asset license can provide both cryptocurrency and security token trading simultaneously

ChainCatcher news, according to the Hong Kong Commercial Daily, HKbitEX co-founder and Chief Strategy Officer Lu Tingkuang stated that the license for crypto assets in Hong Kong can simultaneously provide trading for cryptocurrencies and security token offerings (STO). This is actually more convenient than in Singapore and the United States, as licenses in most other countries and regions can only offer one of the services, rather than both. For example, Coinbase, which is already listed in the United States, can only provide cryptocurrency trading with its license.

Although some may believe that Hong Kong has been relatively conservative in the development of the virtual asset market in the past, which has led some crypto giants to feel disheartened and exit the Hong Kong market, in fact, Hong Kong has been carefully observing before deploying, and thus has seen results in recent years.

In addition, the Securities and Futures Commission has made it clear this year that STO investments may be open to retail investors to attract more funds and fintech talent to Hong Kong.