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Hong Kong’s Crypto Dream

Hong Kong’s economy is shrinking, but a recent budget draft published by the government lists some changes that could help the city recover – and crypto is at the center of it all.

Welcome to The Daily Forkast – February 23, 2023 – presented by Joel Flynn.

Hong Kong’s economy shrank by 3.5% last year and it’s only just emerging from restrictions imposed during the pandemic. In response, the local government announced its latest plans to pull Asia’s World City out of the doldrums and crypto is at the forefront of it all.

Where cryptocurrencies, NFTs, and other digital assets were largely unregulated in the city, authorities proposed changes to rules governing them in October. This week, the Securities and Futures Commission published a draft of those changes.

Could crypto power shift away from the US as Hong Kong realizes its crypto dreams? We’ll have more on that in this episode of The Daily Forkast.