Renewed Era of Crypto Assets Growth in Hong Kong
By Jay Lee
Recently, Hong Kong, through its Financial Services and the Treasury Bureau, pronounced a Policy Statement on Development of Virtual Assets (“VA”) in Hong Kong (the “Policy Statement”), which sets out the government’s vision and next steps to help grow Hong Kong’s VA sector again. Hong Kong hopes to develop “a vibrant sector and ecosystem” for VA in the future. The positions set forth in the Policy Statement are widely welcomed by market participants, who hope it will attract more talented crypto-related businesses back to Hong Kong.
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