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I just noticed an interesting development from Hong Kong. Julia Leung, CEO of the Securities and Futures Commission, just announced that they plan to continue licensing more crypto exchanges. Last week, they approved HKVAX, marking the third approval since Hong Kong officially opened its doors to crypto about 14 months ago.
What’s notable is that currently, there are up to 11 platforms in the queue awaiting approval from Julia Leung and the regulatory agency. They have completed the initial review phase for these exchanges and are now requesting the applicants to make necessary adjustments before receiving official licensing.
It seems that Julia Leung and the SFC are taking a quite positive stance toward crypto, not adopting the strict approach seen in some other places. If this trend continues, Hong Kong could become a pretty vibrant crypto hub in the region. This is a positive signal for the entire industry.