🚨 BREAKING: Hong Kong is aggressively expanding its crypto footprint as the government moves forward with a comprehensive licensing regime for virtual asset dealers and custodians, extending oversight far beyond simple stablecoin issuers. $BTC
The new framework aims to create a robust "institutional-grade" environment, requiring all intermediaries—including OTC desks and storage providers—to meet strict capital, security, and AML standards to operate within the city-state. $ETH
Analysts suggest that by codifying these requirements, Hong Kong is positioning itself as the primary gateway for Asian institutional capital, effectively creating a regulated "safe haven" for digital asset management as the global landscape tightens. $XPL