Hong Kong's Active Crypto Market Could Spark a Shift in China's Stance

Despite China's bans on crypto, Hong Kong has become an active crypto market, receiving $64 billion in transactions between July 2022 and June 2023. This trend suggests that the Chinese government may be reversing its stance on digital assets and becoming more open to crypto initiatives. However, most of the activity in the region remains over the counter, with China still dominating in terms of retail and professional size transfers