Hong Kong Commits to Promoting Crypto with New Initiatives

Hong Kong's financial secretary, Paul Chan Mo-po, reaffirmed the city's commitment to becoming a dynamic hub for digital assets. The region is investing heavily in Web3 innovation and blockchain infrastructure.

The Cyberport Web3 Hub now hosts over 270 blockchain firms, with 120 new additions in the last 17 months.
Proposals include tax exemptions on crypto gains for certain entities.
Chan highlighted the integration of AI into blockchain, unlocking new use cases and challenges.
Nine crypto licenses have been issued since the licensing drive began last year.

As global attitudes towards cryptocurrency become more positive, the environment for building crypto portfolios is improving.