Hong Kong Legislative Council Member Qiu Dagan: Unlicensed platform applicants lack industry experience and are not deeply involved in the Web3 field
2024-06-03 09:33:13
The Hong Kong Securities Supervision Commission updated the list of virtual asset trading platforms, and 11 of the 17 platforms on the existing list of applicants were deemed to have been licensed. Qiu Dagan, a member of the Hong Kong Legislative Council, said that most of the remaining applicants were small in scale, some lacked industry experience, and some were traditional Financial Institution Groups trying to get involved in the VATP (virtual asset trading platform) business and did not pursue deep in the Web3 field. Under strict supervision, many in the industry are worried that even if the operator is approved for a license, it will be difficult to continue to make a profit.
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