Hong Kong Seeks to Attract Web3 Firms Amid Singapore Regulatory Shifts

Facing new regulations in Singapore, Web3 companies are being encouraged to relocate to Hong Kong. This move seeks to capitalize on the city’s dynamic digital asset ecosystem and bolster its position as a global hub for blockchain technology. 2022 saw Hong Kong implement a virtual asset declaration framework which has fueled the growth of over 1,000 Web3 companies in the region. ]