Australian cryptocurrency trading company Independent Reserve is looking to take advantage of investment opportunities in Hong Kong, as the city strives to become a cryptocurrency hub in Asia.
The company’s CEO, Adrian Przelozny, considers Hong Kong’s licensing system to make it an ideal destination for business, which he plans to confirm during his visit next week to meet with officials, lawyers, and compliance experts.
This move comes as more cryptocurrency companies express interest in investing in Hong Kong, where they must comply with a set of measures related to asset safety, anti-money laundering, and counterterrorism.
Przelozny believes that the Chinese government is using Hong Kong as a testing platform, and if this experiment succeeds, China is likely to ease its current restrictions on cryptocurrencies.
However, Przelozny remains cautious, warning that this experiment may be temporary and subject to reversal in the future.