David Duong, director of institutional research at Coinbase, said crypto market conditions may worsen due to the debt ceiling debate and that the ongoing credit crunch also has an impact on market conditions, albeit to a lesser extent. Furthermore, the liberalization of regulatory policies in Asia is unlikely to quickly trigger large inflows into crypto markets.
BlockBeats previously reported that on May 28, according to the Hong Kong Securities and Futures Commission, the "Guidelines Applicable to Virtual Asset Trading Platform Operators" came into effect on June 1. The Securities and Futures Commission of Hong Kong welcomes virtual asset trading platform operators who are prepared to comply with SFC standards to apply for licenses. Operators that do not intend to apply for a license should proceed to wind down their operations in Hong Kong in an orderly manner. This marks significant progress in the construction of a global virtual asset center that Hong Kong is vigorously promoting. Industry insiders are gearing up. Some can’t wait to submit their applications as soon as possible.
