The founder of BitMEX exchange Arthur Hayes recently said that the cryptocurrency market will grow at an accelerated pace if China and Hong Kong legalize it.
Numerous surveys show growing interest from large and small investors in digital assets in Hong Kong and Singapore, so local authorities face the challenge of creating an environment for retail and institutional investors to legally enter bitcoin and other virtual currencies.
As Bloomberg specifies, Hong Kong authorities began to develop a regulatory framework for crypto-trading. In addition, the city could become a development center for the blockchain industry.