Global Crypto Hotspots: Hong Kong and Ljubljana Lead the Way
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Hong Kong and Ljubljana: Leading the Crypto-Friendly City Rankings
A groundbreaking analysis by the migration platform, Multipolitan, has spotlighted Hong Kong as the second most crypto-friendly city globally, trailing just behind Ljubljana, Slovenia. This revelation, part of Multipolitan’s anticipated Crypto Report 2025, highlights Hong Kong’s burgeoning status as a magnet for digital wealth, talent, and innovation in the cryptocurrency realm.
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Ljubljana: The Pinnacle of Crypto Adoption
The Crypto Friendly Cities Index evaluates urban regions based on diverse criteria such as regulatory frameworks, taxation policies, digital infrastructure, and the density of digital asset wealth. Ljubljana, renowned for its progressive stance on blockchain technology and widespread acceptance of crypto payments across various retail outlets, clinched the premier position in the ranking.
Closely following Hong Kong in this esteemed list are Zurich, Singapore, and Abu Dhabi, each making significant headway in nurturing conducive ecosystems for cryptocurrency ventures and investments.
Slovenia’s Dominance in Crypto Wealth
Slovenia also boasts a high concentration of crypto wealth, with the typical owner possessing around $240,500 in digital assets, a stark contrast to Cyprus’s $175,000 and Hong Kong’s $97,500. This surge in “crypto whales”—individuals holding substantial cryptocurrency amounts—has driven many to explore residence in tax-neutral territories.
The United Arab Emirates, with Dubai at the forefront, has become a haven for wealthy industry players, thanks to its Golden Visa initiative, which offers a decade-long residency for a minimum investment of 2 million dirhams (approximately $544,500).
Nirbhay Handa, co-founder and CEO of Multipolitan, reflected on this evolving landscape, noting, “We are transitioning from inherited rights to chosen affiliations—where individuals select jurisdictions, currencies, and communities that best align with their needs.” He further highlighted the transformative impact of tokenized assets and decentralized governance on societal foundations.
Hong Kong’s Strategic Move: Expanding the Digital Asset Ecosystem
In a move reflecting these trends, Hong Kong’s Securities and Futures Commission (SFC) has unveiled new guidelines aimed at broadening the city’s digital asset ecosystem. These regulations will enable licensed Virtual Asset Trading Platforms (VATPs) and SFC-approved funds to provide staking services, allowing investors to earn returns on their digital assets while bolstering blockchain network security.
Julia Leung, CEO of SFC, emphasized the importance of regulatory oversight, asserting, “Enhancing the range of regulated services and products is vital for the sustainable growth of Hong Kong’s virtual asset ecosystem.”
Under these new regulations, crypto exchanges and funds intending to offer staking services must obtain written approval from the SFC and comply with stringent conditions, including comprehensive disclosure, strong internal controls, and diligent evaluation of blockchain protocols and third-party service providers.
This initiative is part of the SFC’s “ASPIRe” roadmap, launched in February, aimed at nurturing the development of Hong Kong’s virtual asset landscape.
The current total valuation of the crypto market stands impressively at $2.8 trillion.
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