11/08/2023
Why Hong Kong Wants to Be a Hub for the Crypto Sector
Hong Kong wants to become an international crypto hub even as jurisdictions like the US cast a wary eye on the sector. In August, the first licenses were issued under a new system to regulate crypto exchanges offering trading in tokens like Bitcoin and Ether. The regime is part of Hong Kong’s effort to attract fresh capital and talent back to the city, after its reputation was tarnished by years of harsh Covid-19 curbs and a crackdown on political dissent. Initial reaction was largely positive from digital-asset firms, but there was a lack of major new investment pledges. Hong Kong’s push appears to have quiet backing from Beijing even as mainland China sticks with a ban on crypto trading.
Hong Kong wants to become an international crypto hub even as jurisdictions like the US cast a wary eye on the sector. In August, the first licenses were issued under a new system to regulate crypto exchanges offering trading in tokens like Bitcoin and Ether. The regime is part of Hong Kong’s effo...
