Hong Kong landlords lease to crypto exchanges following regulatory clarity

CoinTelegraph

Hongkong Land, a property landlord in Hong Kong, has leased out commercial office space to a local crypto-asset firm named HashKey Group following clarity around cryptocurrency regulations. 

Neil Anderson, director of Hongkong Land, believes that the decision to lease commercial property to crypto businesses was heavily reliant on the recent crypto regulations set by the Securities and Futures Commission (SFC):

How To Get Free Crypto  

“The SFC’s recent decision to regulate digital asset exchanges in Hong Kong gives us confidence that this new asset class has a regulatory framework, and therefore a future within the finance industry.”

Hong Kong regulators require crypto businesses to be licensed locally and offer their services only to professional investors.

Hong Kong’s regulatory decisions around cryptocurrency have brewed mixed feelings among local investors. However, Christopher Hui, Hong Kong’s Secretary for Financial Services and the Treasury, has defended the recent proposal to ban retail crypto trading.

Hui said that a regulatory framework that bans retail crypto activity help against “market manipulation, money laundering and terrorist financing.”

According to Hongkong Land, HashKey Group has rented an entire floor in the Three Exchange Square building in central Hong Kong, which is partly owned by the Hong Kong government.

Related: Restricting crypto trading to millionaires good for Hong Kong, says official

On the flip side, the demand for commercial spaces from traditional banks is declining, primarily attributed to the COVID-19 pandemic. HashKey, currently operating from a business park dedicated to startups, will be taking up space previously leased by Australia and New Zealand Banking Group.

Coinbase Banner  

Bloomberg reported that mainstream fintech giants, including Standard Chartered and BNP Paribas, have reduced their office space. This is supported by data from Jones Lang LaSalle, which shows a 9.6% vacancy in the central region, which has almost doubled from last year.

Go to Source
Author: Arijit Sarkar


Recommended Crypto Services, Products and Strategies:

The first thing any crypto investor needs is is a reliable and secure Crypto Wallet.  Whether you’re looking for an online wallet, hardware wallet, desktop or mobile wallet, Crypto Renegade provides you with all the Best Crypto Wallets in each category.

Best Crypto Wallets Banner

When you’re ready to buy more crypto, or exchange your coins for others, Crypto Renegade’s list of the Best Crypto Exchanges has you covered.  The Crypto Exchanges recommended here offer everything from simplicity and convenience to advanced trading platforms and profit sharing. 

Best Crypto Exchanges Banner

If you want to learn more about the methods and tools that can be used to find Great Crypto Projects, then be sure to check out Crypto Renegade’s strategy for How To Find The Best Cryptocurrency.

Crypto Strategy Banner

For those people that don’t have any money to invest right now, or just want to understand the technology a bit more, you’ll definitely want to check out Crypto Renegade’s Free Crypto Strategy and start collecting Free Coins today!

Free Crypto Banner

What do you think about cryptocurrency? Do you have any questions about it? Be sure to leave a comment below.

This site uses Akismet to reduce spam. Learn how your comment data is processed.