The East is embracing crypto! Contrary to the cautious stance of several Western countries toward cryptocurrencies, Hong Kong has embraced a proactive approach by inviting Coinbase and other crypto exchanges to establish operations in the region.
. This initiative, announced on June 9, seeks to investigate the advantages of CBDCs as a means of payment for everyday transactions and to facilitate customer access to cryptocurrency exchanges.
The invitation extended by Ng illustrates Hong Kong’s dedication to becoming a digital hub for the crypto industry. OKX and Huobi were among the first crypto exchanges to apply for virtual asset service provider licenses in the region. The favorable approach toward cryptocurrencies in Hong Kong has also attracted interest from prominent international technology companies. In January, South Korean
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