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Kaiko Relocates to Hong Kong to Take Advantage of Pro-Crypto Policies

• Kaiko, a cryptocurrency market data provider based in Paris, is relocating its Asian headquarters from Singapore to Hong Kong.
• The move is driven by the city’s efforts to become a global leader in the digital asset space and its recent regulatory changes and initiatives.
• A new licensing regime for crypto exchanges is expected to be implemented on June 1.

Kaiko Relocates To Hong Kong

Kaiko, the cryptocurrency market data provider based in Paris, has announced the relocation of its Asian headquarters from Singapore to Hong Kong. This move was motivated by the city’s efforts to cement itself as a global leader in the digital asset space and its recent regulatory changes and initiatives that promote growth while safeguarding investor interests.

City’s Pro-Crypto Policy Pivot

Hong Kong is learning from past bankruptcies like the FTX exchange, positioning itself for a rebound from a $2 trillion market rout. The US has been cracking down on crypto while Singapore is considering stricter rules following the FTX fallout; however, Hong Kong is set to allow retail investors to trade larger tokens such as bitcoin (BTC) and ether (ETH). Furthermore, Kaiko CEO Ambre Soubiran believes that Hong Kong’s regulatory landscape is changing positively and that Kaiko wants to support this development of institutionalization, growth, and establishment of the digital asset class in the city.

Challenges Facing Crypto Industry

The crypto industry remains in a deep downturn after a bubble in token prices last year caused investors to flee. Several companies have had to slash thousands of jobs due to this situation while others are waiting for a crypto recovery before investing funds into it again. Despite this economic difficulty, Kaiko’s Head of Asia-Pacific Sean Lawrence will relocate from Singapore to Hong Kong by end March 2023. He suggested that “something like nine out of 10 people” in crypto are discussing returning back some way or another due to these policy pivots taking place within Hong Kong.

New Licensing Regime Expected By June 1st

Hong Kong’s revamped digital-asset rules are expected allow retail investors to trade larger tokens such as bitcoin (BTC) and ether (ETH) later this year with a mandatory licensing regime for stablecoins due by 2023-2024. As part of its broader effort restore credentials as cutting edge financial center after experiencing Covid related restrictions, there will be stricter regulations surrounding cryptocurrencies when it comes trading securities digitally – thus making it much more attractive destination for hedge funds, investors & asset managers alike come June 1st 2023 when these new policies take effect .

Conclusion

                                                                
 In conclusion , we can expect an influx of capital towards hong kong given their pro-crypto stance which should help stimulate an overall recovery within not just hong kongs but also global economy . Furthermore , kaikos decision serves as testament how far hong kongs come terms embracing cryptocurrencies something many other countries yet still afraid do .