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Here’s how Hong Kong is opening up to crypto

Here’s how Hong Kong is opening up to crypto

Episode 52 of Season 5 of The Scoop was recorded with The Block’s Frank Chaparro and Tangent Ventures Co-Founder Jason Choi.

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Jason Choi is the co-founder of Tangent Ventures and the host of Blockcrunch podcast.

In this episode, Choi shares why Hong Kong’s new Virtual Asset Service Provider (‘VASP’) licensing regime represents an “unapologetically bullish” shift in tone from regulators.

Although the new laws effectively lift Hong Kong’s prior ban on retail crypto trading, Choi still thinks it will take some time for Hong Kong to become a dominant hub for crypto:

“A lot of crypto startups are effectively unbanked, especially startups that have to deal with crypto assets directly in high frequency such as exchanges… Without more banks actively supporting crypto businesses, it’s a very hard to really thrive for crypto businesses.”

During this episode, Chaparro and Choi also discuss:

  • The Asian VC landscape
  • What’s next for Web3 gaming
  • Crypto market liquidity

This episode is brought to you by our sponsors PayPal and CleanSpark.

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© 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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Author: Davis Quinton and Frank Chaparro