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Hong Kong Seeks to Revive Crypto Sector Wrecked by FTX Debacle

  • City pursues digital-asset blueprint in shadow of FTX’s crash
  • Officials expected to roll out revamped crypto license regime
Matrixport front office in Singapore.
Matrixport front office in Singapore.Source: Matrixport Technologies
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Hong Kong is sticking with a plan to become Asia’s digital-asset capital despite the industry’s tarnished reputation, a stance drawing tentative interest from bruised crypto firms looking for paths to recovery.

The city claims it will learn the lessons of a $2 trillion crypto market rout and a spate of global bankruptcies like the collapse of the FTX exchange to create a fresh regulatory framework that can protect investors and encourage growth.