Here’s how Hong Kong is opening up to crypto
The Scoop
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The Challenges of Hong Kong in Cryptocurrency
A lot of crypto startups are effectively unbanked especially startups that have to deal with crypto assets directly in high frequencies such as exchanges. I think the only exception we've seen was HashKey Pro which is one of the first exchanges to have obtained a VASP license in Hong Kong. The majority of other businesses at least anecdotally it has not been easy for them to get backed. Without more banks actively supporting crypto businesses it's very hard for a place to really thrive for crypto businesses.
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