, 2023-01-09 20:01:15,
Hong Kong has reaffirmed its commitment to become a regional crypto hub in following the collapse of cryptocurrency exchange FTX. “As certain crypto exchanges collapsed one after another, Hong Kong became a quality standing point for digital asset corporates,” said a top government official.
Hong Kong Aims to Become Regional Crypto Hub
Hong Kong Financial Secretary Paul Chan Mo-po reaffirmed the city’s crypto commitment at a web3 summit in Cyberport Monday.
Emphasizing that Hong Kong remains committed to becoming a regional crypto hub, the financial secretary described:
As certain crypto exchanges collapsed one after another, Hong Kong became a quality standing point for digital asset corporates.
He added that Hong Kong has a robust regulatory framework for crypto that “matches international norms and standards.”
Joseph Chan, the undersecretary for financial services and the Treasury for the government of Hong Kong, revealed at the same event that the city is preparing to issue more licenses for digital asset trading firms. Moreover, it is planning a consultation on crypto platforms to explore the potential for retail participation in the industry.
Hong Kong is pushing to become a regional crypto hub despite the collapse of crypto exchange FTX and several other crypto firms filing for bankruptcy. Last month, the city’s Securities and Futures Commission (SFC) issued a statement warning about the risks associated with crypto platforms offering deposits,…
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