Hong Kong Stresses Pro-Crypto Stance as Industry Reels

(Bloomberg) — Hong Kong will be a great place for cryptocurrency, fintech and other startups to set up shop in the new year, the city’s financial secretary said Monday, looking past the current upheaval in the industry.

Paul Chan, speaking at a Web3 forum in Cyberport, said Hong Kong remains committed to becoming a regional crypto hub — an ambition expressed at the end of October. That was just before Sam Bankman-Fried’s FTX cryptocurrency exchange had its industry-altering meltdown. Chan said Hong Kong will work to attract new businesses from all over the world.