The US Senate’s rejection of the Clarity Act – a landmark bill meant to regulate cryptocurrency market structure – has opened a window for Hong Kong to accelerate its digital asset ambitions, industry insiders say, even as the sector remains mired in a slump after a brief rally last month.
Beijing’s ban on crypto remains in force in mainland China, but Hong Kong has received approval to develop itself as a digital asset hub, with the stalled push in Washington presenting the city with what analysts called a “critical strategic window” to secure a regulatory lead.
US Senators on Wednesday blocked the bill, which was expected to accelerate the integration of digital assets into mainstream finance.
Senate Democrat Elissa Slotkin…
