Hong Kong's Comprehensive Crypto Regulations Highlighted By Former CoinDesk Executive

According to Odaily, Emily Parker, former Global Strategy Executive Director at CoinDesk, emphasized during an event in Hong Kong that being 'crypto-friendly' does not equate to being 'crypto-easy.' She explained that jurisdictions considered friendly to cryptocurrencies have stringent requirements for sustainable development. Parker highlighted Hong Kong's comprehensive virtual asset regulations and the licensing of exchanges that allow retail trading, positioning the city as a burgeoning digital asset hub. Parker pointed out that Hong Kong has detailed regulations and clear rules, with strict operational guidelines for virtual asset exchanges. These include a mandate to maintain 98% of assets in 'cold wallets' and adherence to rigorous regulatory standards. She also noted Hong Kong's proactive development of Web 3.0, providing a new 'sandbox' for stablecoin issuers and offering spot exchange-traded funds (ETFs) for cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH).