The Hong Kong Licensing Regime will allow Virtual Asset Service providers to commence trading on June 1st 2023. One has to note this is not for retail investors, but accredited professional investors. This is a start in the right direction, but is a limited offering with a small selection of crypto's available.
When I say reading between the lines I expect to see VeChain (VET) on this list as they have been working with the Chinese Government already. All food in China is being recorded and tracked using the VeChain with transactions burning the gas token VTHO.
Most of us who don't have this extra regulation hanging over our heads are fortunate as imagine being blocked at every move. The United States crypto community is having a rough time as there are games being played and this could cost the US citizens in the long run missing out on certain investments.
I know some of our users on Hive have been waiting patiently to move their stake into the COTI Treasury and have not been able to as yet. The SEC just seems to be buying time and nothing else as they cannot stop Crypto as it offers too much technology with use proper use cases on a selected few. Could they rate various projects and only allow those with use cases going forward as who knows what they are thinking of as I don't think they have a clue what they are dong anyway. It is clear they are just being a nuisance and why I believe this is all about buying time and nothing else.
The Chinese have been quiet for a long time as they at one point were changing their mind every 6 months making crypto legal then illegal. This is most likely manipulation at the highest level as why else would they be doing this. Just think all the food related businesses in China have to have VET in order to earn VTHO which is used to pay for their transactions. This is a Chinese Government backed scheme they implemented so they are not anti crypto.
The technology being developed using blockchains is going to open up mass adoption and it will not be down to various Governments saying yes or no. The Crypto world has to keep on developing with no let up in pace as this is going to blow up in a good way. Unfortunately many of the crypto projects are a waste of time being centralised and offering nothing of real use case value. This will be up to the few to make this happen and because the numbers are so small this will take a little longer to happen.
Every 6 months we are getting closer to mass adoption but it still seems as though we are still a few years out from breaking through. In my head I have penciled in 2026 which is a realistic time frame for mass adoption to start taking place. 3 years is time for the right development to take place bringing blockchain technology to the forefront of everyday requirements used by businesses.
