On one side world’s countries apply difficult Terms and conditions for cryptocurrency but other side Hong Kong is creating a crypto-friendly environment so that is why it is becoming a favourite among crypto firms. Hong Kong Security and Futures Commission (SFC) got 18 crypto licences from Global and local crypto firms and you know this is a big thing and this proves that Hong Kong is becoming a favourite for the Crypto firms. Hong Kong branch whose name is Hong Kong HK applied for a virtual asset trading Licence In Hong Kong SFC.

Apart from this, 18 different crypto exchanges including OKX, Crypto.com, Bybit, and DFX Labs have applied for virtual asset trading licenses from November 2023 till now. so Hong Kong becoming a crypto hub the reason is the crypto-friendly environment in Hong Kong. Any crypto firm can manage their services easily in Hong Kong and they are not facing many issues like the crypto community facing issues in other countries that is why crypto firms first preference is Hong Kong at the current time. crypto is being encouraged by Businesses, Crypto ATMs, accessibility and legality This is exactly what crypto firms want to manage their services. this type of crypto-friendly environment is needed in the world so that crypto can grow and people can get the benefit of this technology.

These are the reasons for Hong Kong's popularity among crypto firms but there is more Hong Kong government is inviting crypto firms and giving them attractive offers to start their business in Hong Kong. Offers like easy banking and easy regulations. and most of the crypto firms facing the issue regarding banking services and regulation in other countries and this is what the Hong Kong government is solving. One of China's largest fund managers is Harvest Hong Kong and the Hong Kong regulator recently received its first application for a spot bitcoin exchange-traded fund on January 26 from Harvest Hong Kong.

So these are the biggest things that happening in Hong Kong that is why Hong Kong is maintaining its image regarding cryptocurrency I hope that in the future it will maintain this image and other countries will take inspiration from this and maybe they will change their cryptocurrency policy there is other good news coming from the el Salvador and nayib bukule has got an election victory and he is the fan of bitcoin which is a good thing. ETF approval is a positive thing and sooner or later we will get the impact on the cryptocurrency and impact like hassle-free regulation and adoption are the key points in the impacts. So what is your opinion on this particular information that I have shared here please do a comment and share this post on social media thank you for being here have a good day.

Lucky Ali

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		Hi I am lucky ali from gujarat, india. I am a crypto enthusiast, blogger, and SEO developer. I am always interested in learning new things and getting new experiences. You can find me on hive, twitter and discord (Lucky Ali#6343). Sharing is caring, Thank you hive family ♥

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