The U.S. government's frosty approach to cryptocurrency regulation could ultimately see the industry’s “center of gravity” shift to Hong Kong, says Ambre Soubiran, the CEO of Paris-based institutional crypto market data provider Kaiko.

Julia Leung has stated that cryptocurrency platforms must be regulated from the perspective of investor protection, as they are part of the Web 3.0 ecosystem.

In April, there will be over 100 Web3 events concentrated in Hong Kong. With a Web3-friendly policy environment, Hong Kong has become the new utopia of the Web3 world.

Julia Leung, head of the Hong Kong Securities and Future Commission, has stated that cryptocurrency platforms must be regulated from the perspective of investor protection, as they are part of the Web 3.0 ecosystem. This follows Hong Kong's efforts to develop the Web3 industry and regain its status as a financial and crypto hub, with over 80 companies expressing interest in building Web3 businesses in the city. At least eight crypto-related firms could receive licenses by the end of 2023. Meanwhile, at the Boao Forum for Asia 2023, vice-governor of China's central bank Xuan Changneng praised the convenience of stablecoins in cross-border payments, while warning of their susceptibility to scams and illegal trading.

A new Hong Kong-based fund plans to raise $100 million this year to invest in digital asset startups, as the city seeks to become a regional fintech hub.

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The Hong Kong Securities and Futures Commission (SFC) has signaled its intention to license over 8 crypto companies by the end of the year. The move is part of a broader effort by the Hong Kong government to regulate and legitimize the cryptocurrency industry.

In light of Hong Kong’s commitment to developing cryptocurrency infrastructure, a FinTech official King Leung has visited Japan to talk with policymakers and regulators in Tokyo to better understand the idea around Web3 digital assets.

Accroding to Cointime,Particle Network and LongHash Ventures are hosting the Wallet Developers Conference in Hong Kong on April 14th. The conference will feature eight different vertical tracks focused on the theme of wallets, as well as a roundtable discussion on how wallets can drive Web3 mass adoption. Prominent figures such as co-founders from Cobo, Conflux, SafePal, and Biconomy will share their insights during the event.

Hong Kong may issue virtual asset trading licenses to at least eight cryptocurrency-related firms by the end of this year as part of the city’s new crypto licensing regime, said Angelina Kwan, chief executive officer of financial services firm Stratford Finance and a former regulator of the Hong Kong Securities and Futures Commission (SFC).