Hong Kong's Open Crypto Regulatory Framework Attracts New Firms

Recent reports indicate that Signum Digital, a joint venture of Coinstreet and Somerley, has received approval-in-principle from the Hong Kong Securities and Futures Commission (SFC) for its security token offering (STO) and subscription platform, which will be a pioneering development in Hong Kong. Cryptocurrency data firm Kaiko has also announced its plans to move its Asian headquarters from Singapore to Hong Kong, citing the city’s pro-crypto policies and impressive recovery from covid-related restrictions.