Donald Day and Ajay Shamdasani’s conversation discussing the importance of broadening the policy at HKU Fintech

Donald Day, chief operating officer of VDX, and the former in-house cryptocurrency/digital asset expert at Hong Kong’s capital markets regulator, the Securities and Futures Commission (SFC), sits down to chat with Regulatory Ramblings host Ajay Shamdasani. In the conversation about Regulating Virtual Assets: The Hong Kong Advantage, they discussed the importance of broadening the policy discussion beyond just being about cryptocurrencies to envisaging a future where virtual assets are a key part of daily commerce, as well as the importance of digitization, and Hong Kong’s ideal position as a global fintech and digital asset hub.

In the video, when asked if he felt Hong Kong’s regulatory advancement was slow, Donald Day shared his thoughts from his own experience:

“ The institutional finance world always places a great emphasis on trust and perception. Hong Kong has a framework that, while now being finessed and potentially widened and expanded, has provided a stable framework to run a business. If you start and run a business, you need to be aware of the framework under which you operate. And that to a large degree the Hong Kong framework has remained stable and unchanged since it was launched.

Whereas if you are in another jurisdiction, if you start your business under one framework, and that suddenly dramatically changes, your business strategy might not work anymore. Your business might not be feasible anymore. And it’s not the case that in all circumstances you can just relocate your business to a different country. Your staff might have families and not be able to relocate that easily.

You want responsible innovation that is compliant, that is constructive, forward looking, but also ensures that it complies with the regulation.”

A full version of their discussion will air in a subsequent episode of Regulatory Ramblings at www.hkufintech.com.

VDX Group is absolute pleasure and honour to share some of thoughts on the great opportunity and bright future in the digital asset space for Hong Kong, with the great Ajay Shamdasani.

About VDX

VDX is creating a world-leading digital asset platform, committed to bringing regulated, reliable, safe and fair services to global investors and financial institutions. VDX Connect delivers customized solutions in the areas of regulation, compliance, trading and risk reporting. Bridging traditional and digital finance, VDX provides a trusted gateway for brokers, banks, fund managers and family offices to access the digital asset space in a compliant way. For more information, please visit https://www.vdx.com