🚨 Hong Kong’s push to lure back cryptocurrency companies has been boosted by the tightening regulatory environment in the US, which has cut off access to crypto products and services, sued exchanges like Binance, and targeted crypto-friendly banks.
According to official figures, over 80 firms have expressed interest in establishing a presence in Hong Kong, with more than 20 crypto and blockchain companies from mainland China, Europe, Canada, and Singapore planning to do so. Some companies, like Kaiko and Bybit, have already started to build their teams in Hong Kong, citing the city’s access to Chinese institutional investors, liquidity, mature capital markets, and high financial literacy.
However, some have questioned the profitability of operating in Hong Kong and the conservative nature of the city’s proposed rules for centralized exchanges and retail trading.
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