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Hong Kong sees biggest uptick in cryptocurrency activity in East Asia, new report finds

The city rose to 30th place, up from the No 47 spot last year, in this year’s Global Cryptocurrency Adoption Index rankings by Chainalysis.

Hong Kong regulators’ acceptance of cryptocurrencies and “decisiveness” in laying down a regulatory framework helped build up institutional adoption, according to Chainalysis. Its index measures activities across several types of cryptocurrency services, including centralised exchanges and decentralised protocols. The latest rankings reflect how Hong Kong has managed to make the city’s virtual-asset market attractive via “regulatory clarity”, which has helped guard against risks to retail investors.

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