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During a discussion on the new Twitter Space Hong Kong virtual asset policy organised by SQUARE DAO, Dr Xiao Feng of HashKey Group revealed that it would take about 2 years and US$20 million to apply for licences 1, 4, 7 and 9 related to virtual assets. He also pointed out that there is hope that the passage of the Anti-Money Laundering and Terrorist Financing Regulations in March next year will lead to relevant simplifications for virtual asset licences, and that Utility Token will also come under regulation after the regulations are passed, but he believes that its regulation should be different from that of securities-based Token. it is worth noting that Utility Token is not under It is worth noting that Utility Token is not regulated in Singapore.

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【Xiao Feng: Hong Kong Virtual Assets licence application costs US$20 million, 2 years】During a discussion on the new Twitter Space Hong Kong virtual asset policy organised by SQUARE DAO, Dr Xiao Feng of HashKey Group revealed that it would take about 2 years and US$20 million to apply for licences 1, 4, 7 and 9 related to virtual assets. He also pointed out that there is hope that the passage of the Anti-Money Laundering and Terrorist Financing Regulations in March next year will lead to relevant simplifications for virtual asset licences, and that Utility Token will also come under regulation after the regulations are passed, but he believes that its regulation should be different from that of securities-based Token. it is worth noting that Utility Token is not under It is worth noting that Utility Token is not regulated in Singapore.

Xiao Feng: Hong Kong Virtual Assets licence application costs US$20 million, 2 years

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