The post Hong Kong Stands Firm as ‘Open & Vibrant’ Crypto Hub, Says Top Official appeared on BitcoinEthereumNews.com.

Speaking at the Consensus, Hong Kong’s Financial Secretary, Paul Chan Mo-po, reaffirmed the city’s dedication to being an open and dynamic cryptocurrency market.  As Hong Kong authorities work to expand licensed crypto platforms, they are also strengthening regulations, further solidifying the city’s ambition to become a global digital finance hub. Hong Kong is doubling down on its commitment to becoming a global hub for digital assets, with top officials reaffirming their support for Web3 innovation, fintech, and blockchain development. Speaking at Hong Kong Consensus 2025, Financial Secretary Paul Chan Mo-po emphasized the government’s dedication to fostering a stable, open, and dynamic cryptocurrency market. During his speech, Mo-po highlighted Hong Kong’s substantial investments in digital infrastructure and talent development as key drivers of the city’s growing fintech ecosystem. “Our Cyberport and Science Park have evolved into thriving centers for Web3 innovation and financial technology, while our universities and industry partnerships continue to produce new generations of blockchain experts,” Mo-po stated. He pointed to the emerging intersection of artificial intelligence (AI) and blockchain as one of the most exciting developments for the future. “AI is constantly evolving and is being increasingly applied to finance,” Mo-po said. “Its convergence with blockchain will unlock new use cases, presenting both opportunities to seize and challenges to address. Hong Kong has already outlined a clear policy on AI integration in financial services.” Hong Kong has also introduced favorable regulations to strengthen its position as a leading financial hub, including tax exemptions on crypto gains for hedge funds and private equity firms. These measures aim to attract institutional investors and solidify the city’s reputation as a pro-crypto jurisdiction. Mo-po stressed the need for a strong regulatory framework, highlighting that the failures of several crypto exchanges in recent years serve as a clear reminder of the importance of…

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Filed under: News - @ February 20, 2025 5:25 am