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Hong Kong Aims to Become New Crypto Hub as US Regulatory Crackdown Continues

Hong Kong is hoping to become a new hub for the crypto industry as US crypto companies face increasing regulatory crackdowns.

The surge in interest has come after the Hong Kong government released its policy statement on Virtual Asset Development in October 2022, which clarified and laid out the government’s welcoming attitude towards the sector. More than 80 crypto-related firms have expressed interest in getting a presence in Hong Kong, with at least 20 preparing to make the move.

Among the US companies that have found themselves in hot water with American regulators recently are the crypto exchanges Coinbase and Binance, which are both facing potential legal action from regulators.

Hong Kong Coinbase Binance
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