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<h2 id="header-0">Key Takeaways</h2><ul><li>Hong Kong has been attracting interest from over 80 virtual asset companies around the world</li><li>According to the Secretary for Financial Services and the Treasury, Christian Hui, 23 #crypto firms have already made plans to set up in Hong Kong</li><li>Hong Kong plans to establish a licensing regime for #virtual asset service providers in June of this year, which is expected to attract more quality virtual asset enterprises to the city.</li></ul><h3 id="since-october-of-last-year-hong-kong-has-been-attracting-interest-from-over-80-virtual-asset-companies-around-the-world">Since October of last year, Hong Kong has been attracting interest from over 80 #virtual asset companies around the world.</h3><p>These firms are keen on establishing their presence in <a href="https://www.coingabbar.com/en/crypto-currency-news/hong-kongs-sfc-grants-signum-digital-approval-for-security-token-offering-platform" rel="noopener noreferrer nofollow">Hong Kong</a> as it strives to become a leading hub for #Web3, the next generation of the internet.</p><p>According to the Secretary for Financial Services and the Treasury, Christian Hui, 23 crypto firms have already made plans to set up in Hong Kong. These companies include virtual asset exchanges, blockchain infrastructure firms, and #blockchain network security firms.</p><p>Hui shared that these firms are interested in learning more about the regulatory requirements, visa requirements for talent admission, targeted support measures for the virtual assets and #Web3 sector, and the implementation details of the policy statement. Hong Kong already has over 800 fintech companies, and the city is well-positioned to be a leading hub for Web3.</p><p>Hong Kong plans to establish a licensing regime for virtual asset service providers in June of this year, which is expected to attract more quality virtual asset enterprises to the city. The Securities and Futures Commission (SFC) is currently accepting feedback on its licensing regime until the end of this month. The <a href="https://www.coingabbar.com/en/crypto-currency-news/china-takes-a-softer-stand-on-hong-kong-crypto-aspirations" rel="noopener noreferrer nofollow">proposed regulation </a>requires all centralized #cryptocurrency trading platforms operating in Hong Kong to be licensed by the regulatory body.</p><p>In summary, Hong Kong has received interest from more than 80 #virtual asset-related firms around the world since October 2022, with 23 of them already planning to establish a presence in the city. Hong Kong plans to establish a licensing regime for virtual asset service providers in June of this year, and the regulatory body is currently accepting feedback on the proposed regulation.</p><p><strong>Also read - <a href="https://www.coingabbar.com/en/crypto-currency-news/beware-of-scams-arbitrum-airdrop-targeted-by-fraudulent-websites-and-phishing-scams" rel="noopener noreferrer nofollow">Beware of Scams: Arbitrum Airdrop Targeted by Fraudulent Websites and Phishing Scams</a></strong></p>

Over 80 Cryptocurrency Companies Are Considering a Foothold in Hong Kong

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