Chairman of Hong Kong Fintech Association: Under strict regulation in the US, crypto companies are turning their attention to Hong Kong.

BlockBeats News, June 19th - Neil Tan, chairman of the Hong Kong Fintech Association, stated that due to the challenging regulatory environment in the United States, cryptocurrency companies are being forced to explore more friendly jurisdictions. Hong Kong's strategic position as a gateway to China, coupled with its strong funding channels, is enhancing its ambition to become a leader in the virtual asset field. However, Hong Kong is facing fierce competition from Dubai and Singapore. Tan stated that other jurisdictions have regressed in terms of admitting retail investors, while Hong Kong is taking the lead in this area. We will see different participants entering the market, including cryptocurrency and TradFi fields. There are also many other applicants, including Greentown Holdings, a real estate participant with no experience in cryptocurrency or digital assets, but they express their desire to apply for licenses.