Bitcoin

<h2 id="header-0">Is crypto shifting to Asia?</h2><p>As the United States becomes more unattractive for companies in the crypto landscape, regions in Asia, and especially Hong Kong, have been making major steps in terms of regulation.</p><p>We all know that China has banned crypto (mining) 300 times already.</p><p>India initially banned crypto in 2016 but has recently taken a more regulatory take on the sector.</p><p>And Indonesia initially classified cryptocurrencies as trading commodities, forbidding banks to get involved with crypto but it has recently introduced a new law, signed by President Joko Widodo.</p><p>The law is a financial regulations overhaul that modified at least 17 outdated local laws to align with technological developments.</p><p>Nearly half of the global trade happens in Asia. Regulators and financial institutions in Hong Kong know this and are trying to make Hong Kong the crypto hub of Asia.</p><h2 id="header-1">Hong Kong is working with crypto companies</h2><p>ZA Bank, the largest virtual bank in Hong Kong, ran a pilot with more than 100 organizations. As a result of the regulatory pilot, it is now providing online banking accounts to Web3 startups and small-to-medium crypto enterprises.</p><p>Later this month, banking and securities regulators will meet up with crypto companies and banks. They hope to learn about the needs and perspectives of these entities.</p><h2 id="header-2">A shift in capital allocation</h2><p>As the United States is increasingly cracking down on crypto, not understanding the needs, and not welcoming innovation, attention is shifting towards Asia.</p><p>More countries in Asia are starting to open up and regulate crypto in favor of the crypto sector. It&#39;s just a matter of time before the next Asian crypto hub arises. With more than 4.5 Billion people living in Asia, and the continent being very tech-friendly, the next Billion crypto users will be onboarded there!</p><p>#hongkongweb3 #hongkong #asia $BTC #Bitcoin</p>

Hong Kong becomes more crypto-friendly | This is what it could mean!

目录

CRYPTOTAG

发布于 2023年4月12日的其他文章

Revolutionizing Nine Chronicles: PBFT Implementation and the Path to Decentralization

Bitcoin Mining Firm Bitdeer to Go Public in $4B SPAC Deal

2 days ahead of Ethereum’s Shapella upgrade; What to expect?

Over the Moon Web 3 Reception: Gala of the Industry and MixMarvel's 6th Anniversary

Hong Kong Virtual Bank Takes Lead in Embracing Crypto, Offering Conversions and Accounts to Estab...

Ripple v. SEC case update as of April 10, 2023

订阅我们免费的电子期刊，获取每日最新加密领域动态！