HONG KONG: Hong Kong's cryptocurrency entrepreneurs and investors are looking to the government to take more measures to support the industry amid growing concerns about the city's diminishing status as a crypto hub resulting from regulatory uncertainty.
"There was a point in time where Hong Kong had a leading position in cryptocurrency and business related to crypto," said Padraig Walsh, a partner at the Hong Kong law firm Tanner De Witt. "That isn't the case any more, and I think regulation has been a key part of the reasons why."
