"Will the price of gaming tokens go up if Hong Kong acts like this?"
Some gaming tokens have finally managed to see an encouraging performance after Hong Kong parliamentarians said the digital asset is unlikely to face strict regulation if it is not involved in securities or futures trading.
While aggressive actions by the Securities and Exchange Commission (SEC) of the United States (US) caused the cryptocurrency market to fall, Hong Kong's optimistic stance has fueled the growth of the digital asset ecosystem.
According to Colin Wu, a Chinese journalist who has 290,000 followers on his Twitter account, a Hong Kong lawmaker wants to make the exchange or management of virtual assets including gaming tokens unregulated.
He added that Hong Kong is quite open to such protocols and projects as long as Web3 development does not involve securities and futures.
Like to be informed that the very different stance of the US and Hong Kong lawmakers is one of the signs for a change in development from the US to China in the long term.
Through observation, Internet Computer (ICP), ApeCoin (APE), The Sandbox (SAND), Immutable X (IMX) and Gala (GALA) have seen price recovery on Wednesday yesterday.
There is no denying that Hong Kong's positive stance on gaming and Web3 tokens has pushed the recovery of gaming tokens in the short term and further developed the digital asset ecosystem.
