“The U.S. being more stringent these days than ever on crypto and Hong Kong regulating in a more favorable way…is going to clearly shift the center of gravity of crypto assets trading and investments more towards Hong Kong,” said Ambre Soubiran, chief executive of Kaiko, a digital assets data provider based in Paris. “We want to be where our clients are,” she said.focusing on investor protection
More than 20 crypto and blockchain companies from mainland China, Europe, Canada and Singapore have told the government they are planning to establish a presence in Hong Kong, while over 80 firms have expressed interest in doing so, according to official figures. Bybit, a cryptocurrency exchange based in Dubai, said it is working to build its core Asian operations in Hong Kong, with plans to put part of its research and development as well as marketing teams in the city. The exchange, founded in 2018, is planning to apply for a license in Hong Kong under proposed rules coming into effect in June.
Other companies have questioned how much profit an operation in Hong Kong can generate, as well as how much it will cost to obtain and maintain licenses. Some view the city’s proposed rules for centralized exchanges and retail trading—which will be restricted to highly liquid and well-known tokens such as bitcoin and ether—as too conservative. As the securities regulator completes its rules, others are waiting to see if exchanges can only serve local citizens, which make up a small market.
Lol
Great job ewarren
The shift of Hongkong from aromatic to stinky
Duh
Ok.. so crypto escapes to Hong Kong to exist in the shadow of China… that banned crypto. Yeah, that’s going to end well.
Why couldn’t people be honest about what crypto is?
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