ong Kong will be a great place for crypto, fintech and other startups to set up shop in the new year, the city’s financial secretary said on Monday, looking past the current upheaval in the industry.
Hong Kong is keen to plug its crypto credentials at a time rival Singapore is backtracking, spooked by the fallout from the derailment of FTX. Following the city’s policy statement, several leading tech firms and startups are now considering a move of their headquarters or an expansion to Hong Kong, Chan said, without disclosing their names.
Hong Kong is preparing to issue more licenses for digital asset trading firms. The city is also planning a consultation on crypto platforms — exploring the potential for retail participation in the industry — the details of which will be published soon, said Joseph Chan, under secretary for financial services and the treasury, at the same event.
Once again China ahead of the curve.
Wall Street will do anything from the ground up. Hong Kong must have a similar bent, a willingness.
And if that industry goes under completely, which is where it's headed? Why do these scammers who run these cities - including NYC, which has a crank as a mayor who wants to grift off crypto as well - think they can wish away that crypto is ending?