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Hong Kong Embraces Cryptocurrencies, Becomes Data Hub for Key Businesses

Hong Kong, a city with a population of over seven million in southern China, is renowned for its pro-innovation and technology stance. Despite China's anti-crypto stance, Hong Kong has introduced its own crypto legislation, allowing retail investors to invest directly in crypto assets.

The city is a significant global economy, serving as a hub for investment and trade in the region, and is a well-established data center for key businesses in finance, shipping, trade, and retail. Binance and Bitfinex, two major global crypto exchanges, have welcomed the regulatory clarity provided by Hong Kong's virtual asset platform regulation.

The digital assets ecosystem is much broader than crypto alone, and the Web3 and digital finance industries are set to continue to grow overall in greater China.

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