Here’s how Hong Kong is opening up to crypto

Sat Jun 03 2023

Hong Kong is becoming a leading destination for crypto in Asia with the approval of retail crypto trading and the implementation of a virtual asset service provider licensing regime.
Despite regulatory openness, crypto startups in Hong Kong face challenges with banking support.
Asian markets are seeing growth in both gaming and financial use cases for crypto, with many large exchanges based in Asia.
Mobile-based games targeted at Southeast Asia are being developed by many crypto companies due to higher consumer behavior and receptiveness to new applications in the region.
China is opening up to blockchain but not cryptocurrency, while large funds are being raised in Asia for investing in crypto.
Family office wealth plays a significant role in the capital for long-tail funds in the crypto industry.
Decentralized exchanges are gaining market share compared to centralized exchanges, but regulation remains unclear.
Regulators face challenges in controlling DeFi, which is difficult to ban.
The speaker is excited about investing in founders who are building zero to one use cases that enable behavior that was not possible before, especially in Asia.