Binance Increasing Its Dominance Amid Hong Kong’s Crypto Hub Plan

The world’s largest crypto exchange Binance teams up with Hong Kong police to fight cybercrime as the city plans to become Asia’s crypto hub. The crypto exchange has been at the forefront of investigating and preventing virtual asset-related crimes.

Binance is increasing its dominance in the crypto market in Hong Kong after the city set up a licensing regime for virtual asset service providers, and regulate stablecoins and other virtual assets.

According to an official blog on February 3, Binance attended and supported a Virtual Asset Investigation Course (VAIC) conducted by the Cyber Security and Technology Crime Bureau (CSTCB) of the Hong Kong Police Force (HKPF). The course was conducted to reinforce law enforcement efforts against growing cybercrime in the city.

(By Varinder Singh)

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