Latest news about Hong Kong

Both Far East financial hubs adopt a comprehensive approach in regulating cryptocurrencies and are expected to draw businesses globally. Although they are not listed in CoinDesk's Crypto Hubs 2023 ranking of the top 15 destinations for crypto professionals to live and work, they should not be underestimated.

The SFC's guidelines explicitly forbid the distribution of crypto 'gifts' intended to encourage retail investments, which may encompass airdrops. Additionally, the guidelines state that stablecoins should not be allowed for retail trading until they undergo regulatory oversight.

The company aims to take advantage of Hong Kong's renewed status as a promising crypto hub, considering the city's efforts to establish a well-defined regulatory framework for digital assets.