Trump’s crypto executive order could thwart Hong Kong’s virtual-asset-hub ambitions

Quick Summary:

The city is now moving to adjust’ a proposal for regulating over-the-counter virtual-asset trading after receiving market feedback.

Hong Kong in late 2022 set out its ambition to become a global virtual-asset hub, and has charged ahead with a series of initiatives over the past two years, including a licensing regime for crypto exchanges, exchange-traded funds that directly track bitcoin and ether, and introducing a legislative bill on stablecoins.

The previously unfriendly environment for crypto in the US had in part made Hong Kong “one of the few very vibrant and rather successful hubs for international crypto in Asia”, he said.

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Article Details

Author / Journalist: Xinmei Shen

Category: Technology

Markets: Hong Kong

Topics: Order Hong Making Industry Trump Including Virtual-asset Crypto Executive Kong International

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-01-24 @ 21:30:08 (11 hours ago)

News Timezone: GMT +8:00

News Source URL: scmp.com

Language: English

Article Length: 246 words

Reading Time: 2 minutes read

Sentences: 6 lines

Sentence Length: 41 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © SCMP

News ID: 25403698

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