More than 80 crypto firms have expressed interest in moving to Hong Kong, as the city continues its push to become a Web3 hub, says the financial secretary.
Hui noted that these companies were interested to learn more about the “implementation details” of the policy statement, as well as regulatory requirements, visa requirements for talent admission as well as targeted support measures for the virtual assets and Web3 sector.
Hui said that Hong Kong already has over 800 fintech companies and that it is “well-positioned” to be aHong Kong’s crypto ambition gets subtle nod from Beijing: Report Hui further reiterated Hong Kong's plans to establish a licensing regime for virtual asset service providers in June 2023. He suggested this could lead to more crypto firms flocking to Hong Kong, noting:
“Through the establishment of a comprehensive and clear regulatory system, we are expecting more quality VA enterprises to set up businesses in Hong Kong or to seek development opportunities in Hong Kong.”for feedback on its licensing regime as part of a consultation process that will continue until March 31.
It proposed that all centralized cryptocurrency trading platforms operating in Hong Kong must be licensed with the regulatory body.
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