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Hong Kong crypto hub takes shape with approvals, hiring

Binance-backed platform's former CEO has joined securities commission, sources say

An advertisement for bitcoin and cryptocurrencies in Hong Kong. The city is on a mission to make itself a hub for trading the digital assets.   © Reuters

HONG KONG -- The evolution of Hong Kong into a hub for cryptocurrency trading is gathering pace, with more approvals and filings as well as personnel moves, although the barriers are proving too high for some.

Hong Kong units of China Asset Management, Bosera Fund Management and Harvest Fund Management are set to list their exchange-traded funds based on the cryptocurrencies bitcoin and ethereum next week. The funds secured listing approval from the Hong Kong exchange on Wednesday and Thursday.

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