US crackdown will push crypto ‘center of gravity’ to Hong Kong: Kaiko CEO
Kaiko CEO Ambre Soubiran said that Hong Kong’s friendly approach might make the city the “center of gravity” for cryptocurrency trading and investments
The United States government’s frosty approach to cryptocurrency regulation could ultimately see the industry’s “center of gravity” shift to Hong Kong, says Ambre Soubiran, the CEO of Paris-based institutional crypto market data provider Kaiko.
The U.S. has been at the forefront of the crypto sector for quite some time. However, with the government seemingly adopting a regulation-by-enforcement approach, there is a growing feeling by some that a significant amount of companies, developers and investors will soon flock elsewhere to work in friendlier environments.
Speaking to The Wall Street Journal on April 1, Soubiran suggested that the recent crackdown on crypto in the U.S. will inadvertently help Hong Kong in its goal of becoming a major crypto hub:
“The U.S. being more stringent these days than ever on crypto and Hong Kong regulating in a more favorable way…is going to clearly shift the center of gravity of crypto assets trading and investments more towards Hong Kong.”
“We want to be where our clients are,” she added.
The U.S. government has become increasingly aggressive towards crypto since the collapse of FTX in November 2022, with Senator Elizabeth Warren even recently stating that they are building an "anti-crypto army". Hong Kong, however, has been moving in the other directions.
