Hong Kong’s Crypto Ambitions Get a Boost From U.S. Crackdown

HONG KONG—Hong Kong’s attempt to attract cryptocurrency companies is getting help from an intensifying crackdown by American regulators.

The city was once home to a number of prominent companies, including Crypto.com, BitMEX and now-bankrupt FTX. But increasing competition from Singapore, concerns about China’s tough approach to crypto and Hong Kong’s prolonged and strict response to Covid-19 meant many companies in the sector left.