Hong Kong has emerged as a cryptocurrency hub, competing with the UAE and Singapore, according to Ivan Ivanov, global CEO of WOW Summit. He attributes this growth to Hong Kong's unique 'one country, two systems' framework, which allows for innovative exploration of digital assets under a strong regulatory regime. This amalgamation of robust legal structures and connections to Mainland China makes Hong Kong an attractive environment for startups and investors. Ivanov emphasizes that the city's stablecoin policy fosters trust and transparency, as issuers must secure licenses and maintain reserves in local banks. The Hong Kong Financial Services and Treasury Bureau has also introduced measures to mitigate AI risks while facilitating its integration into financial systems. Noteworthy developments include collaborations among the Hong Kong Monetary Authority, Brazil's Central Bank, and Thailand's Bank towards cross-border tokenized settlements, alongside the growth of Cyberport's Web3 network which has seen over 120 new firms join recently. Furthermore, ZA Bank, Hong Kong's largest digital bank, has launched services for crypto holdings, signaling regulatory support to stimulate investment in the crypto sector.

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