Crypto Industry Experts Optimistic about Hong Kong’s Prospects as a New Crypto Hub Despite Strict Regulations

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Published March 16, 2023

WikiBit, a world blockchain change regulatory inquiry platform, organized a roundtable discussion on “what is behind the new crypto hub in Hong Kong?” on March 10th. BYDFi, the fastest-growing cryptocurrency exchange, was invited to participate on this occasion. BYDFi’s CMO, Michael Hung, was a guest on the meeting, along with different attendees including Karen Kao, CMO of BOXTradEx, a Co-Founder and Director of AAG Ventures, and Karl, the product manager of Metaone pockets. They shared their views on the topic.

Therefore, although it appears that evidently Hong Kong’s regulatory course for the blockchain appears strict, many individuals are nonetheless optimistic concerning the blockchain trade in Hong Kong. Michael Hung, CMO of BYDFi stated,” Currently, the most important markets on the earth are the United States and China. After the FTX incident, folks started to pay attention to the development of blockchain in Asia. As the monetary center of Asia, Hong Kong has many monetary skills and enterprises, and despite seemingly strict regulatory restrictions, it still has huge market potential. This is why folks have excessive expectations for Hong Kong and are very optimistic about its prospects.” 

Karen Kao, CMO of  BOXTradEx said, “Hong Kong has been actively selling the application of innovative applied sciences within the monetary sector, actively exploring new ideas and technologies to improve the efficiency, transparency, and security of monetary transactions. Hong Kong is ahead of other jurisdictions, the SFC has recognized since 2018 that dangers associated with virtual asset activities are not restricted to money laundering but in addition embody investor protection considerations. Indeed, the SFC was one of many first few main financial regulators to introduce a complete framework to control a variety of digital asset-related actions.“

Regarding Hong Kong’s regulatory policies, Michael Hung talked about that within the FTX incident, investment funds disappeared for US users, however Japanese customers acquired compensation. Regulation is crucial to making sure market integrity and protecting investors. For Michael Hung, it’s much more essential to seek out an acceptable balance between innovation and regulation for long-term success.

In general, the attendees of the roundtable discussion were optimistic about the future of cryptocurrency in Hong Kong and appeared forward to how the market would develop.

About BOXTradEx 

BOXTradEx is a one-stop crypto platform for GameFi ecosystem offering a user-friendly platform. We purpose to build the online 3 GameFi portal infrastructure to allow access to NFT and open metaverse.

BOXTradEx products & companies for all player and trader.

1. NFT market – a secondary marketplace that allows users to buy, sell, and mint NFT, together with joining whitelist, INO, and launchpad events

2. Guild ToolBox – a tool that customers can create personal guilds group and simpler to manage the scholarship program, and assist NFT lending and borrowing

3. Tournament, Esport- organizes tournaments with GameFi tasks for customers to hitch and win rewards.

4. Exchange – assist bots for trading cryptocurrencies, together with deposit and withdraw assets

About BYDFi

BYDFi is a cryptocurrency buying and selling platform for global buyers. It has continued to convey skilled, handy, and new buying and selling services to global users since 2020. BYDFi supplies customers with a trading resolution via Spot, Contracts for Differences (CFDs), Inverse perpetual contracts, USDT perpetual contracts, Grid buying and selling, and Copy-trading companies.


Media Contact: Jeanne Hsieh

Contact: [email protected]

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Media Contact
Company Name: BYDFi
Contact Person: Jeanne Hsieh
Email: Send Email
Phone: 0911011192
State: Singapore
Country: Singapore

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