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Hong Kong's Crypto Ambitions Receive Guarded Reception from Digital Asset Companies

Hong Kong's ambition to become a crypto hub has received a guarded reception from digital asset companies, who remain cautious about the city's regulatory framework for the industry.

While the new regulatory regime for virtual assets has gone into effect, placing a greater burden on exchanges in the city, interest from crypto firms hoping to gain a foothold in Hong Kong remains high. However, concerns around the sustainability of the new regulatory framework and the city's regulatory ambiguity on crypto remain a major concern.

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