Massive investment inflows into crypto Continue

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Hong Kong presently has many regulators that deal with cryptocurrencies. Putting cryptocurrency under financial regulation is the strategy that the Financial Services and the Treasury of Hong Kong (FSTB) employs. The bureau is one of the few pilots the regulator is launching and is testing out a non-fungible token (NFT) offering. According to Hui Siu-yuen, the financial secretary for Hong Kong, the way society and the economy operate could change due to cryptocurrencies. As part of the growing emphasis on digital currencies in the city, Hui was speaking at Hong Kong FinTech Week. According to Chief Executive CY Leung, Hong Kong’s “one country, two systems” policy is its primary point of differentiation. Hui added that there are many instances where the technology may effectively address bottlenecks, using the initial public offering subscription period as an illustration. According to Hui Qunbao, Hong Kong’s top financial officer, the Hong Kong Monetary Fund may invest in virtual assets. Hui would not specify whether the new fund will make investments in cryptocurrency businesses. If they adhere to local laws and regulations, he would even be happy to see cryptocurrency enterprises leave China. The Hong Kong regulator stated that it is willing to talk about creating an exchange-traded fund (ETF) for crypto futures and allowing authorised exchanges to serve retail customers.

Kunji research crypto market update

Dragon Victory International, which is listed on Nasdaq, is changing its name to Metalpha Technology Holding Limited. The client will find it much easier to recognise the brand name, according to Adrian Wang, founder and CEO of Metalpha. Hong Kong has fallen behind peer cities like Singapore and Dubai over the past year or so because of worries about its regulatory environment and the impact of mainland China, which has outlawed cryptocurrency mining and trade. However, since November, city officials have made it clear that they want to put Hong Kong back on the crypto map. After the restructuring, Metalpha will change its name to Metalpha Technology Holding Limited and become a fully owned subsidiary of the listed firm (MATH). “It’s more like saving people that haven’t drowned yet,” said Wang.

According to Alex Thorn, head of research at cryptocurrency investment firm Galaxy Digital, Web3 blockchain startups and trading-based services dominated venture-capital transactions and funding in 2022, and the trend may continue this year. Online gaming, the metaverse, decentralised autonomous organisations (DAO), and non-fungible tokens (NFTs) are the components of Web 3. Especially those that offer trading and exchange services are receiving more funds for later stage businesses. 

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