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In response to the accelerated implementation of Hong Kong regulations, the local compliance exchange MEEX has been officially launched
The trend of Hong Kong regulation has affected the nerves of countless virtual asset practitioners. Hong Kong SFC introduced a regulatory framework for virtual asset trading platforms in 2019, and made detailed regulations in the "Position Paper - Supervision of Virtual Asset Trading Platforms". In October 2022, Hong Kong issued the "Policy Declaration on the Development of Virtual Assets in Hong Kong", which took the lead in clarifying the frontier layout in the fields of virtual assets and Web3. Not long ago, the Hong Kong Securities Regulatory Commission issued a consultation summary on the virtual asset trading platform, which made a more detailed definition of many boundary issues.
On June 1, 2023, Hong Kong's virtual asset platform licensing system will officially come into effect, and Hong Kong's virtual asset compliance supervision will officially enter a new stage.
Every step of Hong Kong’s supervision shows its determination to build a global virtual asset center, and has been attracting the attention of virtual asset practitioners in Hong Kong and around the world, whether it is a global exchange or a new entrepreneur They are all speeding up the layout of projects in Hong Kong or expanding their business scale, so as not to miss the policy opportunity to grasp the development of virtual assets in Hong Kong.
With the gradual implementation of favorable policies, more than a dozen institutions around the world have successively deployed crypto exchanges in Hong Kong. Different from other foreign institutions, MEEX, which is supported by a local consortium in Hong Kong, is a localized exchange. It is understood that MEEX co-founder and Co-CEO Simon Wu is a well-known expert in virtual asset security technology in the industry. His technical team is from the core technical team of the world's leading virtual asset trading platform. The management team includes Hong Kong Securities Regulatory Commission No. 1 and No. , No. 9 license company executives, virtual asset industry operation executives, Hong Kong licensed lawyers and other people with experience in virtual assets and Hong Kong compliance financial institutions. Combining traditional compliant financial institutions and a star entrepreneurial team in the currency circle, MEEX's performance in the Hong Kong compliant market is worthy of attention and expectation.
The core of a compliant exchange is to establish a strict compliance framework based on Hong Kong laws and regulatory principles, which is also the advantage of MEEX. In addition to the corresponding compliance talents, MEEX's App of the same name has been launched on the Apple App Store and Google Play Mall. At the same time, it has become the first company in the industry to be included in the Hong Kong Web3.0 Association, which currently has the most official The industry organization of the background platform, the above performance shows to a certain extent that the compliance performance of the MEEX platform has been recognized by a third party to a certain extent.
Under the new situation, the competition between global enterprises and markets will inevitably become more intense. Different economies are vying for enterprises and talents with greater efforts in order to maintain their own economic and industrial development momentum. Judging from the new positioning of the international financial center, Hong Kong stands in a position where it needs to grasp the potential opportunities of the virtual economy in the financial field to continue to ensure its uniqueness and advantages. This also makes Hong Kong's supervision of virtual assets increasingly clear. The attitude has also shifted from conservative wait-and-see to openness and compatibility. There is no doubt that this will attract more and more virtual asset entrepreneurs and specific projects to land in Hong Kong.
In the future, Hong Kong needs more policies to support virtual asset entrepreneurs and protect investors. Industry practitioners are all looking forward to truly building Hong Kong into a virtual asset center and creating a better environment for the development of the entire industry.