In this exclusive interview, we talk to Gate.HK’s CEO Kevin Lee. Gate.HK is a leading cryptocurrency exchange with its headquarters in Hong Kong. The exchange has a diverse range of cryptocurrencies and provides its users with a secure and efficient trading environment.
Background
Hi Kevin, please introduce yourself and share your role at Gate.HK
Hi there! I’m Kevin; I serve as the CEO of Gate.HK, a pivotal role that allows me to merge my 18 years of diverse experience across traditional finance and the crypto industry to steer our ambitious project, aiming to obtain regulatory licenses in Hong Kong and expand the business in the city. My journey through the financial landscape has equipped me with a rich blend of insights and expertise, which I now channel into leading Gate.HK.
The strategic acquisition of regulatory licenses with the Securities and Futures Commission (SFC) is at the core of my responsibilities. This critical aspect of my role ensures that our operations meet and exceed the stringent compliance standards set forth by regulatory bodies, safeguarding our platform’s integrity and users’ trust. This focus on regulatory excellence allows us to provide secure, efficient, and innovative trading experiences that comply with global standards.
Equally important to my role is cultivating a strong, vibrant community both locally and internationally. I am deeply committed to building meaningful connections with industry peers and our users, fostering an ecosystem where collaboration, support, and shared growth are at the forefront. Through open dialogues, community initiatives, and constant engagement, we aim to empower our users and stakeholders, making them an integral part of our financial inclusivity and innovation journey.
As the CEO of Gate.HK, what aspects of the project are you most passionate about?
As the CEO of Gate.HK, my enthusiasm for our project is deeply rooted in the remarkable and unique journey we’re embarked on. This adventure is a once-in-a-lifetime opportunity, as we are at the forefront of a brand-new industry growing exponentially. The chance to contribute to the success and integration of cryptocurrency within the broader financial ecosystem is not just exciting; it’s a privilege that fuels my dedication every day.
What makes this journey uniquely thrilling is the blend of pioneering a “zero-to-one” venture while simultaneously drawing upon the substantial resources and reputation of the Gate Group. Starting Gate.HK, from scratch just about a year ago, presented its own set of challenges and opportunities. Yet, the process has been significantly empowered by the immense support and resources provided by the Group. This unique advantage has enabled us to navigate the complexities of establishing a new entity in the rapidly evolving crypto space with confidence and strategic insight.
Furthermore, the encouragement and collaboration we have received from our business partners and counterparts have been extraordinary. Their recognition of the long-established Gate brand name and willingness to support our vision and growth have been instrumental in our early successes. Our partners’ collective enthusiasm validates our efforts and propels us forward with a sense of shared purpose and optimism.
Market Sentiment
How would you describe the current market sentiment towards cryptocurrencies in Hong Kong and globally?
In Hong Kong, the sentiment towards cryptocurrencies is distinctly positive, reflecting the broader supportive stance of the government towards the Web3 industry with a promising top-down approach. The city’s authorities, including the Securities and Futures Commission (SFC), the Hong Kong Monetary Authority (HKMA), the Customs and Excise Department, and the Hong Kong Police Force, are not just individually acknowledging the importance of this burgeoning sector but are also making concerted efforts to establish and enforce a coherent and comprehensive regulatory framework. This unified approach is instrumental in nurturing a secure, innovative, and investor-friendly environment, positioning Hong Kong as a premier, all-round Web3 hub in Asia and globally.
Globally, my outlook is cautiously optimistic. The recent upticks, seeing coins hit new all-time highs, have been a welcome change of pace following over 18 months of a prolonged crypto winter. However, this resurgence also attracts attention from those primarily interested in speculative investments. Given cryptocurrencies’ inherently dynamic and fluid nature, we must remain vigilant and ready for potentially shorter yet more volatile cycles compared to traditional financial markets.
How does the market sentiment affect the operations and strategies of Gate.HK?
Market sentiment plays a pivotal role in shaping the operations and strategies of Gate.HK. Our philosophy of maintaining a cautious stance during bull markets reflects a broader commitment to prioritizing security, compliance, and accessibility in our virtual asset trading platform, irrespective of prevailing market conditions.
This approach ensures that Gate.HK remains resilient and adaptable, focusing on long-term sustainability rather than short-term gains. Investing in a secure and compliant platform provides a foundation of trust for our users, which is essential in both buoyant and challenging market environments.
Cryptocurrency Listing Process at Gate.HK
Please walk us through the process of listing a new cryptocurrency on Gate.HK. What are the key factors you consider when listing a new coin?
In listing a new coin on Gate.HK, we rigorously adhere to Hong Kong’s regulatory framework, focusing on key factors: the management team’s background, the token’s regulatory compliance, its market supply, demand, maturity, and liquidity, as well as its technical security features and utilities. Additionally, we assess market, legal, and governance risks alongside potential risks for money laundering and terrorist financing. While this thorough vetting process may result in a more curated selection of tokens than unregulated platforms, it underscores our commitment to user protection. We continuously engage with regulatory bodies to refine our listing criteria, ensuring a secure, compliant, and accessible trading environment for our users.
Regulatory Outlook
How do you see the regulatory landscape for cryptocurrencies evolving in Hong Kong?
The regulatory landscape for cryptocurrencies in Hong Kong is on a path of progressive evolution. The Securities and Futures Commission’s (SFC) approach, which involves leveraging and adopting the existing regulatory frameworks from the securities market for cryptocurrency trading, marks a pivotal step towards establishing a more comprehensive regulatory environment. This initial phase indicates the broader journey towards more detailed and complete regulations in the coming years. Given Hong Kong’s robust regulatory infrastructure for traditional financial markets, including derivatives trading, margin trading, borrowing and lending, and prime brokerage, there’s a strong foundation to build.
The SFC is poised to explore extending these regulations to encompass more than just spot trading in the future. Gate.HK is proactively preparing for these potential regulatory expansions. We are committed to staying at the forefront of regulatory compliance, ensuring we can swiftly adapt to new regulations as they emerge. This preparation involves continuous engagement with regulatory developments, investing in our platform’s compliance capabilities, and maintaining a flexible operational model that can quickly respond to new regulatory requirements.
By aligning our operations closely with the evolving regulatory framework, Gate.HK aims to ensure that we can offer corresponding compliant products without delay in time-to-market when broader regulations are introduced. This forward-looking approach not only positions us to integrate new regulatory changes seamlessly but also underscores our dedication to providing a secure, compliant, and innovative trading environment for our users, reinforcing our commitment to leadership and excellence in the burgeoning crypto market.
Gate.HK Upcoming Features and Projections
What new features or services can users expect from Gate.HK in the near future?
In the near future, Gate.HK users can look forward to a suite of new features and services designed to enhance their experience with depositing, withdrawing, storing, and trading virtual assets. Committed to our mission of being the “Gateway to Crypto,” we aim to ensure a seamless experience across our web platform, mobile app, and API access. Additionally, we will expand our offerings to include specialized services for our VIP clients through delegated OTC traders. These upcoming features are aligned with our mission to provide comprehensive access to the crypto market, reinforcing our commitment to user-centric innovation and ease of use.
Beyond platform enhancements, Gate.HK is dedicated to building a strong community presence in Hong Kong. Through hosting various events and seminars throughout the year, we aim to offer valuable education on cryptocurrencies and foster a well-informed user base. Our commitment extends to local charity work, reflecting our vision to contribute positively to the community and establish a meaningful connection beyond the digital asset space. These initiatives differentiate Gate.HK from other exchanges and reinforces our role as a leader in promoting a more inclusive and educated cryptocurrency environment.
