Will Hong Kong’s ‘regulatory clarity’ on crypto forge a path to global hub status?

In late 2022, Syed Musheer Ahmed packed his bags and departed Hong Kong. The founder of fintech advisory firm FinStep Asia headed for Dubai, where he joined the founding team of the Gulf city’s new digital-asset regulator, Virtual Assets Regulatory Authority (VARA). Like many in Hong Kong’s crypto scene at the time, Ahmed was drawn by the Middle East’s regulatory clarity – a stark contrast to the uncertainty and Covid-19 restrictions still lingering in his adopted home. “Dubai came up as a good...


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