What Happened on Feb. 16th | Hong Kong Aims to Become Asian Crypto Hub

TI Research

Hong Kong's plan to become a crypto hub by officially legalizing crypto trading has led to a surge in Bitcoin and crypto markets, amidst the US regulators' war on crypto. This move is expected to make it easier for money from China to flow into digital assets.

Positive news that Hong Kong is opening its doors to digital assets and investors is fueling a surge in Bitcoin and crypto markets today. Hong Kong aims to become a major Asian crypto hub and plans to legalize buying, selling, and trading of crypto for all citizens.

This move opens up the possibility for money from China to flow into digital assets more easily. Crypto experts have commented on the bullishness of this development, with predictions of an emerging Asian stablecoin and a shift away from U.S. dollar.

Singapore's largest bank, DBS, has also announced plans to apply for a digital asset license, which will enable it to offer crypto trading to Hong Kong customers. Meanwhile, industry analysts are expecting the next crypto bull market to be driven by money from China and Asia.

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Headlines

Hong Kong to Make Crypto Trading Legal for Citizens on June 1st, Says KOL: Crypto熊猫, a crypto KOL, said on Twitter that Hong Kong will officially make crypto purchase, sell and trading fully legal for all of its citizens on June 1st, 2023. "Asian currency based stablecoin coming out of HK will be a certainty as well." He added. The report is retweeted by the likes of Coinbase CEO Brian Armstrong.

Hong Kong Government Launches Tokenised Green Bond: The government of Hong Kong announced the successful offering of HK$800 million of tokenised green bond under the Government Green Bond Programme. This is the first tokenised green bond issued by a government globally.

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TokenInsight is a data and research organization for the digital asset market. TI provides comprehensive asset-related data and comprehensive and timely information and research services for digital assets.

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