🚀 First Digital CEO Discusses Hong Kong's Conservative Crypto Regulations
#FirstDigital #VincentChok #HongKong #CryptoRegulations #InvestorProtection #DigitalAssets #CryptoCustody #BankingSector
According to Odaily, Vincent Chok, CEO of institutional-grade crypto custody platform First Digital, commented on Hong Kong's current regulatory approach to cryptocurrency trading. Chok noted that Hong Kong's regulatory framework is more conservative and slower compared to other jurisdictions, which he attributes to the region's priority on investor protection. He expressed a desire for regulatory processes to accelerate to keep pace with the rapid development of the industry.
Chok also shared his perspective on the banking sector's involvement in digital asset custody services. He does not foresee banks rushing to offer these services in the short term, citing the responsibilities and risks associated with digital asset custody as exceeding the banks' risk tolerance levels.#FirstDigital #VincentChok #HongKong #CryptoRegulations #InvestorProtection #DigitalAssets #CryptoCustody #BankingSector
🚀 🔥 First Digital Responds to Allegations, Emphasizes Security of $FDUSD Backing 🔥
#FirstDigital #FDUSD #Security #USBacked #TreasuryBills #LegalAction #AttestationReport
In response to recent allegations, First Digital posted on their X account to affirm the security and safety of every dollar backing $FDUSD. Thye highlighted that all funds are fully accounted for with U.S.-backed Treasury Bills."Every dollar backing $FDUSD is completely, secure, safe and accounted for with US backed T-Bills. The exact ISIN numbers of all of the reserves of FDUSD are set out in our attestation report and clearly accounted for," stated First Digital.Additionally, First Digital indicated their intention to pursue legal action to protect their rights and reputation. They also shared a link to the attestation report.#FirstDigital #FDUSD #Security #USBacked #TreasuryBills #LegalAction #AttestationReport