Hong Kong is charting its own web3 path despite China’s anti-crypto stance

Hong Kong has an on-again-off-again relationship with crypto: Before China outlawed all crypto-related activities in 2021, the Asian financial hub was the early home to several crypto startups, including the now-defunct FTX, which left for the Bahamas after the ban. Now, Hong Kong is again welcoming crypto businesses, only this time with more regulatory clarity.
During its government-backed fintech week late last year, Hong Kong indicated its intention to legalize crypto retail trading and introduce a licensing regime for digital asset providers. The plan took more shape in February when the c

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