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Hong Kong Continues to be The Hub in Asia
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Hong Kong is a city that embraces innovation and change. Being one of the financial centres in the world, Hong Kong is catching up with the tide of fintech, especially in the field of cryptocurrency. As one of the most open and dynamic markets in the world, Hong Kong offers many opportunities for crypto enthusiasts, investors, entrepreneurs and professionals. Whether it is trading, investing, working or building, there is something for everyone in the crypto space in Hong Kong.
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Photo by Cheung Yin on Unsplash |
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One of the main attractions of Hong Kong is its crypto-friendly regulatory environment. Unlike mainland China, which has banned most crypto activities, Hong Kong has opened up its crypto market to anyone who wants to participate. By introducing a licensing scheme for crypto exchanges, Hong Kong has created a clear and transparent framework for crypto businesses to operate legally and safely. This also provides more confidence and protection to crypto users, as they can trade on licensed platforms and exchanges without fear of scams or hacks. While some may say that the JPEX event has exposed the risks and challenges of the crypto sector, especially in terms of regulation, security and trust, it also proved that the Securities and Futures Commission (SFC) has move on the right direction in building the same.
Another advantage of Hong Kong is its proximity and connection to mainland China. Despite the restrictions on crypto in China, many Chinese companies and individuals are still interested in exploring the potential of crypto in Hong Kong. Some of the leading Chinese securities firms and banks have set up offices or branches in Hong Kong to offer services or partnerships to crypto companies. Some of the state-affiliated banks have even started offering banking services to crypto clients in Hong Kong, signaling a possible shift in Beijing’s attitude toward crypto. This creates more opportunities for cross-border collaboration and innovation in the crypto sector.
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Crypto Talents |
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Hong Kong is also a hub for crypto talent and startups. It is a vibrant and cosmopolitan city that has always been attractive to talents from different backgrounds and professions. In the 2022 Policy Address, the Hong Kong Government has announced a series of measures to enhance Hong Kong’s competitiveness and appeal as a talent hub. Launching a Top Talent Pass Scheme to widely entice talents to pursue their careers in Hong Kong. Existing talent admission schemes have also been enhanced, such as extending the Immigration Arrangements for Non-local Graduates to graduates from campuses of Hong Kong universities in the Guangdong - Hong Kong - Macao Greater Bay Area, abolishing local employment quota requirements for the Technology Talent Admission Scheme and suspending the annual quota for a period of two years for the Quality Migrant Admission Scheme. There were 5799 cases of Top Talent Pass Scheme applications approved in just one month since the scheme launch in December 2022, and there is a substantial increase of application under Quality Migrant Admission Scheme approved from 2 845 case in 2022 full year to 7 022 cases in 2023 first half.
There are also many job openings for people who want to work in the crypto industry, ranging from engineering to design to customer support, sales and marketing. These jobs offer a chance to join some of the most exciting and fast-growing companies in the world, such as Bybit, OKX, KuCoin, Gate.io and Uphold. These are some of the best crypto exchanges in Hong Kong, offering a variety of features and options for traders, such as low fees, high liquidity, large selection of tokens, security and regulation.
Besides jobs openings from existing crypto companies, there are also many opportunities for creating new ones. Various developments and measures highlighted the city’s commitment to fostering an environment conducive to fintech and Web3 innovation. Hosting the annual Hong Kong Fintech Week, which is one of the largest and most influential fintech events in the world. Launching a new venture capital fund called Titan Fund, which is dedicated to investing in early-stage Web3 and blockchain companies. Establishing a Fintech Innovation Hub, which serves as a platform for conducting research and experimentation on emerging fintech and Web3 topics. These events and platforms will all empower great entrepreneurs launching their startup in Hong Kong.
Hong Kong has a vibrant and supportive ecosystem for entrepreneurs who launched their own crypto projects or startups to flourish. There are many resources available for them, such as incubators, accelerators, mentors, investors, events and communities. Some of the notable examples are Cyberport, a digital technology park that hosts over 400 fintech and blockchain startups; Genesis Block, a co-working space and accelerator that provides mentorship, funding, and networking for crypto startups; and Crypto.com, a leading platform for buying, selling and paying with cryptocurrencies that was founded in Hong Kong.
In conclusion, Hong Kong is a city that offers many crypto opportunities for anyone who wants to get involved in this emerging and disruptive industry. By embracing innovation and change, Hong Kong has become a regional cryptocurrency hub that attracts talent, capital and business from all over the world.
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Related Topics: Hong Kong Top Talent Pass Scheme | Hong Kong QMAS vs TTPS | Trifles with Hong Kong Work Visa |
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