HashKey Exchange and OSL Digital Securities Ltd. have won Hong Kong's first crypto exchange licenses under a new regime that allows serving retail customers.
Hong Kong is officially open for crypto trading to retail investors. Hash Key exchange and Os L and Digital Securities Limited have won Hong Kong's first crypto exchange licenses under a new crypto rules regime that allows serving retail customers. Uh Let's let's just understand what that means with Emily Emily, how, how significant important good news, bad news. What's it? What, what is, what does this really mean? It's very significant. It's definitely part of Hong Kong's attempt to position itself as a crypto hub. I think there's a lot of information we're going to have to see though in the coming months and years because one thing that's very notable about Hong Kong is that it's very, very strict, particularly about crypto exchanges. So I'm curious to see how many other exchanges will manage to successfully get a license in Hong Kong because it's definitely not going to be easy. Yeah. Yeah. And uh Emily it, if I so is still waiting in the Wings, aren't they? And, and, and those guys and those are some of the bigger players. Yeah, I mean, you know, the, the, the there's a lot of really strict requirements and I think that's something, it's just kind of an interesting thing because Hong Kong is being talked about a lot as welcoming and as a crypto hub and in some ways it is, but that doesn't mean that it's not going to be one of the stricter jurisdictions in the world. So, yeah, I mean, there's very few exchanges that um are, are really going to make it, I think so. I, I'm really curious to see how this pans out. And Emily, does this solve the problem of fear amongst those interested in being a part of the crypto market in Hong Kong when they think about China? Uh and, and you know the overreach that China can have, you know, you know, one nation two system kind of concept. Yeah, I mean, so I think it's generally understood that if this is happening in Hong Kong at least has the tacit support. I mean, probably more than tacit, it has the support of, of, of Beijing. Um but yeah, I think there always is some sort of question about, you know, what happens if Beijing changes its mind or what happens if Beijing backtracks, we don't have any evidence that that's going to happen and who knows, maybe it can move in the total opposite direction. But there is a little bit of uncertainty. I've heard that from certain people who are looking into the Hong Kong market