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In terms of the ownership of the pending licensing qualifications, it is evident that local institutions without historical risk burdens, familiar with Hong Kong regulatory rules, and possessing traditional financial experience and capabilities have gained more favor, which has also sparked some controversy among the native Web3 population who migrated to the region. Over the weekend, I had informal discussions with the heads of several licensing agencies and received widespread feedback on a sense of disappointment. Some institutions that choose to go to Hong Kong due to the 2022 Hong Kong Policy Declaration may become wait-and-see or even leave. @ru @zora-feed
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