Crypto exchange FTX founder Sam Bankman-Fried said that, unlike the West, although Asia does not have a key web3, blockchain and cryptocurrency hotspot, Hong Kong could emerge as a leader in that sector.
Speaking virtually during the annual Hong Kong FinTech Week 2022, Bankman-Fried said that other potential locations in Asia are Singapore and Busan.
“If you look at what the crypto hubs will be in the world, I think the Bahamas looks like one of them, Dubai looks like one of them, but if you look at the East, it’s not as obvious. It could be Singapore, could be somewhere like Busan in Korea, but I think there is a real chance it ends up being Hong Kong,” Bankman-Fried said.
Furthermore, the world’s youngest billionaire Bankman-Fried added that the Hong Kong government’s crypto initiative to start a consultation on legalising crypto trading by retail investors is a positive sign for a brighter future for crypto in the region.
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