The situation for crypto exchanges has not been developing in the best way lately, although the Hong Kong authorities have taken a number of measures to develop the crypto industry, the newspaper writes. In particular, a long-term ban on trading cryptocurrencies for retail investors was lifted and a new licensing regime for crypto exchanges was introduced.

As explained by one of the partners of the law firm Clifford Chance, financial organizations in Hong Kong are afraid that cryptocurrencies can be used for money laundering.