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Binance CEO Changpeng Zhao tweeted a clip on Wednesday from China Central Television. The topic of discussion? Hong Kong’s decision to accept license applications for crypto exchanges that want to serve retail investors.<\/p>\n
China Central Television (CCTV) is a government-controlled national television broadcaster. It is often seen as a medium for directly promoting<\/a> the government’s perspectives and agenda.<\/p>\n Zhao and others claim that this was a “big deal,” adding that similar coverage in the past has contributed to “bull runs.”<\/p>\n The broadcaster notes that starting from June 1, any virtual asset trading platform must apply for a license from the Hong Kong Securities and Futures Commission to operate in the country.<\/p>\n Crypto trading companies that are already operating will have nine months starting from the first of June to apply for a license, or else they must cease all operations, CCTV said.<\/p>\n “We saw that online safety is a huge challenge,” Zhong Hui Cai, the head of intermediaries department at the Securities and Futures Commission of Hong Kong, said on the broadcast. <\/p>\n Cai stressed that particular attention will be given to the storage of customer funds and ensuring the absence of any conflicts of interest.<\/p>\n The broadcaster also prominently displayed two images featuring the Bitcoin logo. Another shot contained what appeared to be a screen with Samoyedcoin’s collection of dog NFTs.<\/p>\n China has been notoriously strict with cryptocurrency operations, banning bitcoin in 2013, initial coin offerings in 2017 and bitcoin mining operations in 2021<\/a>, <\/p>\n This latest move to regulate cryptocurrency exchanges suggests that there is still interest among citizens in the country to trade digital assets.<\/p>\n Note: Quotes from CCTV were translated from Chinese into English.<\/em><\/p>\n Get the day’s top crypto news and insights delivered to your email every evening. Subscribe to Blockworks’ free newsletter<\/a> now.<\/strong><\/p>\n Want alpha sent directly to your inbox? Get degen trade ideas, governance updates, token performance, can’t-miss tweets and more from Blockworks Research’s Daily Debrief<\/a>,<\/strong><\/p>\n Can’t wait? Get our news the fastest way possible. Join us on Telegram<\/a> and follow us on google news<\/a>,<\/strong><\/p>\n
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