Hong Kong lawmaker Johnny Ng says harsh COVID travel rules, not China’s 2021 crypto ban, pushed firms out as Hong Kong and Singapore now compete head‑to‑head as crypto hubs.
Summary
- Hong Kong Legislative Council member Dr. Johnny Ng Kit-chong argued at Consensus HK on March 24 that COVID-era travel restrictions — not China’s 2021 crypto ban — were the primary reason crypto companies departed the city.
- Hong Kong and Singapore are now described as “neck and neck” for Asia’s top crypto hub position, with Hong Kong having fully opened its doors to retail crypto trading by 2026 following years of regulatory rebuilding.
- The remarks come as the global crypto industry…
