Hong Kong's crypto licensing system is more convenient than in places such as Singapore and the US, according to Ting Kuang Lu, co-founder and chief strategy officer of HKbitEX. According to Lu Ting Kuang, the Hong Kong crypto asset license allows holders to provide trading services for cryptocurrencies and security tokens (STOs). At the same time, the fintech expert emphasised that regulators in other countries only licensed one asset class, rather than both, citing US-listed Coinbase, for example, whose licence only allows trading in crypto assets.