Hashkey CEO: The cost of applying for a license of tens of millions of dollars for a Hong Kong virtual asset trading platform is not true, it should be "tens of millions of Hong Kong dollars"

Hashkey Exchange CEO Weng Xiaoqi (Livio Weng) said in the latest interview with the FT Chinese website that the cost of applying for a license is not necessarily tens of millions of dollars, but tens of millions of Hong Kong dollars. The cost of preparing the licensing materials is different from the cost corresponding to the operation stage. For HashKey, which has actually been in operation, the investment of the entire exchange sector is indeed tens of millions of dollars, but the platform that is still in the licensing stage is not expected to have so much. Weng Xiaoqi also revealed that the Hong Kong Securities Supervision Commission may not have enough manpower to conduct a comprehensive review of all Native Web3 institutions, but at least it has clearly embraced a development path, which is stronger than the previous stage of crossing the river by feeling the stones. It is optimistically estimated that the supervision will enter a new stage after the risk management and control water level is delineated. This round of policy advocacy of "531" is also a broad education for the entire market, laying the foundation for the long-term development of Web3 in Hong Kong.