Gate Group, a leading cryptocurrency exchange, has announced its participation in the first-ever Hong Kong Web3 Festival 2023, scheduled to take place at the Hong Kong Convention and Exhibition Centre (HKCEC) from April 12 to 15, 2023.
The company stated in a press release that Edwin Cheung, Business Lead of Gate Hong Kong, will attend the festival and participate in various Web3 events to represent the Gate Group.
Additionally, Gate HK will co-host the BTS Labs Network Assembly with BTS Labs on April 12, 2023, to showcase its commitment to promoting growth and involvement in the Hong Kong blockchain community.
The event is expected to draw a diverse audience of over 10,000 attendees, 300 distinguished industry speakers, and almost 100 Web3 projects, along with community and media partners worldwide. Together, they aim to foster a collaborative and supportive ecosystem for the blockchain industry.
Gate HK also announced that it plans to apply for licenses, including the VASP license under the new Anti-Money Laundering and Counter-Terrorist Financing Ordinance 2022 and the licenses under the Securities and Futures Ordinance. This move will enable them to trade non-security tokens and engage in regulated trading activities for security tokens.
By obtaining the anticipated VASP licenses, the company aims to maintain high standards of security and regulatory compliance, establish trust among customers, and support the development and expansion of the Web3 ecosystem, including participation in the Hong Kong Web3 Festival.
The announcement comes after the Gate Group successfully obtained a Trust and Corporate Service Provider (TCSP) license from the company registry in Hong Kong, which grants the group permission to offer virtual asset custody services.
DeFi Planet reported in February 2023 that Gate.io was preparing to establish a new platform called Gate HK in Hong Kong. The company announced the move after it was revealed that a part of the local government’s proposed 2023–2024 budget includes an HKD 50 million ($6.4 million) capital injection into Web3 advancement in the region.
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