Will Hong Kong legalize cryptocurrencies?

Hong Kong is pivoting toward a friendlier regulatory regime for cryptocurrencies with a plan to legalize retail trading, contrasting with the city’s skeptical stance of recent years and the ban in place in mainland China.

Will Hong Kong create a top crypto hub?

The government is expected to flesh out its recently stated goal of creating a top crypto hub at a fintech conference starting Monday. The push comes amid a broader drive to restore Hong Kong’s credentials as a finance center after years of political turmoil and Covid curbs sparked a talent exodus.

Is Hong Kong trying to frame an all-encompassing crypto regime?

Hong Kong has actually been trying to frame an all-encompassing crypto regime going beyond retail token trading, said Michel Lee, executive president of digital-asset specialist HashKey Group. He cited tokenized versions of stocks and bonds as a potentially more important segment in future.

How did the cryptocurrencies crash affect Hong Kong?

The crash toppled a range of crypto outfits while exposing unbridled leverage and deficient risk management. Singapore, Hong Kong’s traditional rival for financial business, was buffeted by the implosion and has tightened up its digital-asset rules to curb retail trading.