![]() Saying no to the past predicts the future. Historically, such coverage led to a bull run. Chinese speaking communities are buzzing. Historically, this kind of coverage led to a bull run.”ĬCTV (China Central Television) just broadcast cryptic. “The Chinese-speaking community is buzzing. Hong Kong’s CCTV coverage of cryptocurrency regulation is “a big deal”.That said, it was low key compared to previous coverage of the crypto space. However, some business insiders saw a change in story in the latest CCTV report on developments in Hong Kong. It tracked the collapse of FTX in late 2022 and MiCA (market in crypto assets) regulatory developments in Europe in April. This is not unusual for CCTV – which enjoys an estimated total viewership of over 1 billion – to cover the crypto space.“We have seen from past incidents that network security remains a major challenge in the region,” Choy told CCTV. CCTV interviewed Keith Choy, interim head of intermediaries at the Hong Kong SFC, who highlighted the importance of cyber security and client asset protection related to virtual asset trading platforms.Companies failing to do so would have to leave the Hong Kong market. Existing trading platforms serving Hong Kong clients are required to apply for a license from the SFC within 6 months following the June 1 launch date. The new rules will allow licensed virtual asset trading platforms to sell some large market cap cryptocurrencies such as bitcoin and ether to retail investors in Hong Kong. ![]() During Tuesday evening’s coverage, CCTV reported that the Securities and Futures Commission (SFC) of Hong Kong – a special administrative region of China – has finalized its licensing regime for virtual asset service providers, which will come into force on June 1.See related articles: Hong Kong? Singapore? Tokyo? Seoul? Dubai? The race is on for Asia’s Web3 hub Part - 1 Some facts Changpeng Zhao, CEO of the world’s largest crypto exchange Binance, remarked that the unexpected focus on the Hong Kong crypto space could signal the start of a bull run. The move caught the attention of analysts and crypto heavyweights alike. ![]() China Central Television (CCTV), the country’s largest national broadcaster, shed light on Hong Kong’s cryptocurrency sector on Tuesday when it reported on the territory’s upcoming virtual assets regulations.
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