Hong Kong Poised to Become Crypto Hub as US Crackdown Looms, Kaiko CEO Forecasts

Ambre Soubiran, the CEO of Kaiko, a Paris-based institutional crypto market data provider, has suggested that Hong Kong’s crypto-friendly approach could make it the “center of gravity” for crypto trading and investments. With the U.S. government increasingly adopting a regulation-by-enforcement approach, many companies, developers, and investors are looking to work in more crypto-friendly environments. Soubiran believes that the recent crackdown on crypto in the U.S. will help Hong Kong in its goal of becoming a major crypto hub. Hong Kong’s Securities and Futures Commission has proposed a crypto licensing regime that aims to provide consumer protections without stifling innovation. More than 80 virtual asset-related firms have expressed interest in setting up shop there. Furthermore, Bloomberg reported that Chinese banks have started offering banking services to crypto firms in Hong Kong, indicating the growing attractivity of Hong Kong in the region. Kaiko is looking to relocate its headquarters of its Asian-Pacific unit from Singapore to Hong Kong in response to the country’s friendly crypto stance.