Gate Group Exchanged Viewpoints With Hong Kong Government Representatives On Digital Asset Industry Development
Gate Group attended a closed-door meeting with the Financial Services and Treasury Bureau (FSTB) and the Securities and Futures Commission (SFC), as well as Invest Hong Kong, along with other virtual asset exchanges, on 19 December 2022, to discuss the recent Policy Statement on the development of Virtual Assets in Hong Kong.
The meeting aimed to address the questions and concerns of industry leaders about the policy and regulations, as well as encourage virtual exchanges to look into license requirements.
Gate Group Adopts A Pro-Regulatory Strategy
Gate Group shared its vision and approach toward the development of virtual assets in Hong Kong, stating that it believes in the potential of these assets to revolutionize the financial industry and improve accessibility for investors. The company also emphasized the importance of regulations to ensure the safety and security of investors and the industry as a whole.
In terms of regulations, Gate Group expressed its support for the SFC’s recent efforts to regulate virtual asset trading platforms and license virtual asset funds. The company also discussed the potential for pilot projects to test and evaluate the effectiveness of these regulations, as well as to provide a learning opportunity for the industry.
Gate Group CEO, Dr. Lin Han, said, “We are pleased to have had the opportunity to attend this important meeting and share our thoughts on the future of virtual assets in Hong Kong. We believe that a clear and consistent regulatory framework is essential for the growth and development of this sector, and we are committed to working closely with regulators and industry stakeholders to achieve this.”
Dr. Lin Han added, “We look forward to continuing to engage with regulators and industry stakeholders to ensure that the virtual assets sector in Hong Kong can thrive and reach its full potential.”
Gate Group Enters Hong Kong with Compliant, Secure, and Comprehensive Custody Services
Another vital component of the strategy is establishing a regulatory-compliant operations in Hong Kong. Gate Group’s Hong Kong-based company (Gate HK), has obtained the Trust or Company Service Provider (TCSP) Licence. Obtaining the TCSP licence is a crucial part of the global expansion strategy of Gate Group, as this affirms the Group’s position as a global virtual asset service leader in the industry. Gate Group is forming teams dedicated to tailoring services that meet the needs of investors and regulators’ expectations.
Looking forward, Gate Group is committed to working closely with the FSTB, SFC, and Invest Hong Kong to ensure the successful development of virtual assets in Hong Kong. The company will continue to engage with other industry leaders to share best practices and promote a positive and sustainable future for the virtual asset industry.
