A digital asset hub is a geographical region or virtual ecosystem that supports the development, trading, and regulation of digital assets. These hubs typically offer favorable regulatory environments, advanced technological infrastructure, and a concentration of talent. They serve as central points for innovation and commercial activity in the blockchain space.
Context
Jurisdictions globally are competing to establish themselves as leading digital asset hubs, attracting businesses and investment in the crypto sector. Regulatory clarity and supportive governmental policies are critical factors in the success of such initiatives. The development of robust legal and operational frameworks remains a key area of focus for these emerging centers.
The SFC's hard deadline compels all non-compliant VASPs to cease Hong Kong operations by May 31st, solidifying the jurisdiction's regulated market structure.
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