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Sandeep Kumar Mishra
Feb 22, 2023
by Sandeep Kumar Mishra

Hong Kong to Establish Crypto Task Force

Hong Kong Crypto Task Force
Hong Kong will set up a crypto task force to give proposals on how it can achieve a recently adopted goal of becoming a crypto hub.

Hong Kong Crypto Task Force to Help It Become Crypto Hub

Finance Secretary Paul Chan stated while delivering the budget for the fiscal year 2023–2024 that over the past few months, a huge number of innovative firms having good potential are looking out for prospects to set up their business in Hong Kong.

The next step, according to Chan, is to create and head a task group on virtual asset development with members from relevant policy bureaux, financial regulators, and market participants to make suggestions for the sector's sustainable and responsible growth.

Efforts At Becoming The Cryptocurrency Capital

As a significant step toward becoming a crypto capital, Hong Kong presented a strategy to permit retail investors to trade digital tokens like Bitcoin and Ether. The city's policy shift is in contrast to the US crackdown that followed the FTX exchange's collapse, which left it with an $8 billion hole in its finances.

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Hong Kong to Establish Crypto Task Force
Sandeep Kumar Mishra
Sandeep is an avid cryptocurrency enthusiast and a keen & passionate blogger. He has a strong mix of skills in the areas of computer networking, cryptography, algorithms, and data structures and specializes in ERC20 tokens. Lately, he is taking a lot of interest in blockchain-powered AI solutions, about which he is also reading and writing extensively. He has to his name dozens of deeply researched articles about cryptocurrencies, blockchain, AI, and IoT. Apart from that, he loves to keep track of the latest trends in social media and digital marketing space. Also, as a huge proponent of blockchain and cryptocurrencies, Sandeep tries to deliver all the latest cryptocurrency news to ardent crypto supporters like yourselves. If you like his content, feel free to follow him on LinkedIn.

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