RABIT Weekly News (W1 January 2023)

As the Hong Kong Parliament announced an amendment to allow individual investors to invest in virtual assets, it also announced that it would implement the amendment starting this year. According to local media, local financial companies have begun the preparation process to obtain license approval.
The U.S. IRS said in an interview with WSJ that it wants to establish a partnership with the cryptocurrency industry to cope with financial crimes. This indicates that the IRS considers the cryptocurrency industry a potential partner in the fight against financial crime.
News platform The Block reported, “The virtual asset market is more likely to be a sideways market than experience a significant decline this year.” This is suspected to be why it is difficult for investment funds to flow into virtual assets on a large scale, which are classified as risky representative assets.