First Digital's CEO urges Hong Kong Government to expedite crypto regulation
CryptoNewsTerminal Staff14 Sep, 2024
First Digital's CEO urges Hong Kong Government to expedite crypto regulation
In a recent interview with Cointelegraph, Vincent Chok, the CEO of crypto custody platform First Digital Trust, emphasized the urgent need for the Hong Kong government to establish clear crypto regulations. Expressing concern over the city's readiness to regulate stablecoins, Chok said, "If we don’t hurry, with a clear regulatory framework in place, we risk falling behind the rapid pace of development in the crypto industry.” While acknowledging the government's cautious approach, Chok believes that regulation should not lag behind industry advancements. He added, "It is understandable that Hong Kong’s regulatory approach to crypto is conservative and slow as investor protection is a top priority. But let's not let regulation lag too far behind the pace of industry change and development.”
