Hong Kong risks falling behind in crypto regulation 🚨

- First Digital Trust calls on Hong Kong to speed up regulation of digital assets, otherwise the city may fall behind the rapid development of the industry.

- Hong Kong has only two licensed platforms for trading virtual assets: Hash Blockchain and OSL Digital Securities.

- Since June 1, working without a license has become a criminal offense.

- Hong Kong is not yet ready to regulate stablecoins pegged to the US dollar.

- Banks are in no hurry to offer crypto asset storage services due to high risks.