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Floki Inu Restricts Access to Staking Programs in Hong Kong: Regulatory Concerns Addressed

In a recent development, Floki Inu has made the decision to block users in Hong Kong from accessing its staking programs. This action follows a warning from the Securities and Futures Commission of Hong Kong, which raised concerns about the staking programs being labeled as suspicious investment products due to the high annualized return targets ranging from 30% to over 100%. Despite the regulatory scrutiny, the Floki team has come forward to defend the elevated Annual Percentage Yield (APY) by explaining that it is a result of allocating the majority of TokenFi's token supply to stakers. Key Points: Floki Inu has restricted access to its staking programs for users in Hong Kong. The Securities and Futures Commission of Hong Kong issued a cautionary warning regarding the staking programs' high annualized return targets. The Floki team justified the high APY by attributing it to the allocation of the majority of TokenFi's token supply to stakers.

Greenland Holdings Subsidiary to Apply for Virtual Asset Trading License in Hong Kong

As the world becomes increasingly digitized, more and more companies are seeking to expand into the virtual asset trading space. One such company is China state-owned Greenland, a real estate developer with a fintech unit that already holds a digital banking license in Singapore. This subsidiary is now seeking to obtain a virtual asset trading license in Hong Kong, a move that could have significant implications for the global digital asset landscape.

As the CEO of Greenland, I am excited to announce that our company is taking this bold step into the world of virtual asset trading. With our extensive experience in real estate development and our growing fintech expertise, we believe that we are uniquely positioned to succeed in this new arena.

Here are some of the reasons why we believe that obtaining a virtual asset trading license in Hong Kong is a smart move for us:

Hong Kong is a major financial hub

Hong Kong is one of the world's leading financial centers, with a highly developed infrastructure and a strong regulatory framework. By obtaining a virtual asset trading license in Hong Kong, we will be able to tap into this thriving ecosystem and take advantage of the many opportunities it offers.

Virtual asset trading is a rapidly growing industry

The virtual asset trading industry is growing at an astonishing pace, with more and more people around the world turning to digital assets as a store of value and a means of exchange. By entering this market now, we are positioning ourselves for long-term success and growth.

Our existing expertise gives us a competitive advantage

At Greenland, we have extensive experience in real estate development, as well as a growing fintech unit that is already licensed to operate as a digital bank in Singapore. This combination of skills and expertise gives us a unique competitive advantage in the virtual asset trading space, and we believe that we can leverage this advantage to achieve success in Hong Kong and beyond.

We are committed to innovation and growth

Finally, at Greenland we are committed to innovation and growth. We believe that virtual asset trading represents a significant opportunity for us to expand our business and explore new avenues of growth. By obtaining a virtual asset trading license in Hong Kong, we are demonstrating our commitment to this vision and our willingness to take bold risks in pursuit of our goals.

In conclusion, we are excited about the prospect of obtaining a virtual asset trading license in Hong Kong, and we believe that this move will position us for long-term success and growth in the digital asset space. We look forward to working with regulators and industry partners to make this vision a reality, and we are confident that our expertise, experience, and commitment to innovation will enable us to achieve great things in this exciting new market.

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