Crypto Hong Kong: The Blockchain Outpost of the Chinese World

Hong Kong’s evolution traces a unique path from a British colony to a Special Administrative Region of China. 

• Before 1997, the city operated under British rule. 
• It was then returned to China under the “one country, two systems” model, preserving a high degree of autonomy 

This unique framework allowed Hong Kong to develop its own legal and economic systems, including an independent currency and judiciary. 

As a result, Hong Kong blended British legal and financial institutions with Chinese scale, pragmatism, and economic drive. The city emerged as a true bridge between East and West—a launchpad where international projects and Chinese ambitions meet on equal terms.

Hong Kong: Financial Heritage Meets Digital Ambition

In recent years, Hong Kong has undergone a profound transformation. After the 2019 protests against the extradition bill and Beijing’s subsequent tightening of control (including the introduction of the National Security Law), the city entered a new political reality.

These developments reshaped not only public sentiment but also the business landscape, as major corporations faced a regulatory environment unlike anything they had previously encountered.

In response, Hong Kong began charting new strategic directions. One of the most notable is its push to become a regional hub for the crypto industry, focusing on institutional transparency and integration into global Web3 practices. The government has openly backed Web3 as a new engine of economic growth, while major tech players are returning to Hong Kong from Singapore and South Korea, reaffirming their foothold in the Chinese market.

Laws, Licenses, and a New Tax Reality

As of June 2023, Hong Kong introduced a formal licensing regime for crypto exchanges, regulated by the Securities and Futures Commission (SFC). 

To obtain approval, companies must: 

• Pass an independent audit
• Use licensed custodians for asset storage
• Enforce strict KYC and AML procedures
• Maintain a clear separation between client and corporate funds 

Additionally, the application process includes:

• Public disclosure of reserves
• A thorough risk assessment
• Full documentation on issued digital assets and the underlying business model 

Failure to meet these requirements can lead to license revocation or even criminal prosecution.

In Hong Kong, cryptocurrencies are officially recognized as digital financial assets. 

• For individuals, capital gains from selling crypto are not subject to tax, provided it’s not part of a professional trading activity. 
• For traders and businesses engaged in regular crypto trading, profits are taxed at a standard corporate rate of 16.5%.

The city offers a strict but well-structured regulatory environment with clear rules of the game, where regulatory approval serves as the foundation for market legitimacy.

For startups, this means full compliance is a must, but the framework is transparent, logical, and free from bureaucratic traps. 

If you’re ready to operate within the established system, you won’t face unexpected setbacks or double standards in Hong Kong.

Related: Standard Chartered and Animoca Drive Stablecoin Adoption in Hong Kong

Crypto Hong Kong’s Digital Energy

Hong Kong has become a powerful draw for Web3 projects and investment. 

This section highlights several Chinese companies that have chosen the city as a strategic base for growth and innovation.

Web3 Coworking Hubs in Hong Kong

• Cyberport

A government-backed tech park that supports over 1,700 startups in fintech and Web3. It regularly hosts high-profile events like Hack.Summit() 2024, bringing together key players from the industry.

• theDesk

A coworking network with locations in Wan Chai, Sheung Wan, and other popular districts. theDesk is known for its energetic business vibe and its role in nurturing Hong Kong’s Web3 community through regular industry-focused events.

• Ooosh Tech Lab

An innovation hub with branches in Central and Kowloon, Ooosh Tech Lab is geared toward supporting Web3 startups. It hosts events such as the Sui Hong Kong Community Meetup and offers virtual and in-person collaboration spaces.

• WeWork Tower 535

Located in the heart of Causeway Bay, this upscale coworking space offers sleek, modern offices and frequently serves as a venue for Web3 and crypto-related gatherings.

Hong Kong’s Web3 scene is dynamic and vibrant. The city carries the sharp edge of Asian business culture, yet offers a relaxed, international way of life.

Hong Kong has become a critical fallback for Chinese developers and founders facing limited opportunities on the mainland. It offers a solid legal foundation and access to global markets.

Web3 Companies in Hong Kong

• HashKey Group

One of Asia’s leading digital asset financial firms, HashKey Group offers a full suite of services including trading, custody, and asset management. The company is fully licensed by Hong Kong’s Securities and Futures Commission (SFC) to operate in securities trading, advisory, and automated trading services. HashKey is deeply involved in shaping the Web3 ecosystem and advancing cutting-edge solutions, including the launch of an Ethereum L2 network.

• Hex Trust

A fully licensed digital asset custodian, Hex Trust serves institutional clients with custody, staking, and trading services. The company manages assets exceeding $5 billion and supports a client base of more than 200,000.

• Bitfinex

Founded in 2012, Bitfinex is one of the oldest and most liquid cryptocurrency exchanges. Although officially registered in the British Virgin Islands, the exchange maintains strong ties to Hong Kong, where its parent company, iFinex, operates its offices. Bitfinex offers a broad range of digital asset trading services and actively contributes to the region’s crypto industry growth.

• Animoca Brands

A Hong Kong-based company specializing in blockchain gaming and NFT platforms, including The Sandbox. Animoca Brands actively invests in Web3 projects and is deeply involved in shaping the future of the metaverse and the digital economy. With its headquarters in Hong Kong, Animoca is a cornerstone of the region’s evolving crypto ecosystem.

From Hackathons to Token Launchpads

In 2025, Hong Kong cemented its role as a premier destination for global Web3 and blockchain events. 

• Consensus Hong Kong 2025

From Feb. 18 to 20, the Hong Kong Convention and Exhibition Centre hosted CoinDesk’s flagship conference, Consensus. The event brought together key industry players to explore the future of digital assets and Web3 innovation. As part of the conference, the EasyA Consensus Hackathon took place, offering a prize pool of over 2 million Hong Kong dollars.

• Hong Kong Web3 Festival 2025

From April 6 to 9, the Hong Kong Convention and Exhibition Centre hosted the Web3 Festival, organized by HashKey Group and Wanxiang Blockchain Labs. The event welcomed over 50,000 attendees, including Ethereum co-founder Vitalik Buterin and representatives from the Solana Foundation. Discussions centered on Web3 regulation, the metaverse, and AI.

• WOW Summit Hong Kong 2025

Set to take place on May 28–29 at AsiaWorld-Expo, the summit will focus on digital assets and Web3. The agenda includes panel discussions on DeFi, NFTs, and digital identity, with more than 7,000 participants already confirmed.

Today, Hong Kong is a fully developed digital asset hub, backed by a time-tested infrastructure. 

At the heart of this ecosystem is Cyberport, a government-backed startup incubator focused on fintech and Web3, with more than 1,700 participating companies.

The city also hosts regional offices for some of the industry’s biggest names, including Binance, OKX, and Animoca Brands.

Crypto in Daily Life: From Coffee to Real Estate

Some bars, cafés, and boutiques in Hong Kong accept USDT, BTC, and ETH. Crypto payments are especially popular in the Central district and on Kowloon Island. 

• You can pay for lunch in crypto at Boticario. 
• For drinks, try Shady Acres bar or NOC Coffee Co. café. 
• Galleries and shops along Hollywood Road and in Soho often display QR codes for crypto payments at checkout.
• Real estate platforms like Spacious.hk and Squarefoot offer the option to pay for services in digital assets.

Most retail outlets and gas stations across Hong Kong accept crypto debit cards. The most popular options are cards from Crypto.com, Binance, and Wirex, allowing users to pay for food, transportation, subscriptions, apartment rentals, and more. 

Crypto ATMs are available in locations such as Tsim Sha Tsui, along Queen’s Road Central, and nearly every major shopping mall. The primary operators are HK Bitcoin ATM and Genesis Block. As of April 2025, Hong Kong hosts over 25 active crypto ATMs, making it one of the most densely covered cities in the region. The machines are accessible 24/7, with transaction fees typically ranging from 2% to 4%.

Web3 Education and Career in Hong Kong

The University of Hong Kong (HKU) offers a Master’s program in FinTech (MSc in FinTech) with dedicated coursework on blockchain technologies and digital currencies.

The Chinese University of Hong Kong (CUHK) also features blockchain-focused modules within its MSc in Data Science program. Both degrees are supported by government-led initiatives under the FinTech 2025 strategy.

On the job market, there’s consistent demand for developers skilled in Solidity, Rust, and TypeScript, UX designers and legal consultants.

Salaries in Hong Kong are significantly higher than in many European markets:

• Web3 Developer: $50,000 to $150,000 per year
• Product Manager in Web3: $62,800 to $188,500
• Digital Asset Legal Advisor: $82,300 to $149,000 per year 

Leading firms such as HashKey, Animoca Brands, Aspen Digital, and Xalts regularly post open roles on their official websites and LinkedIn pages.

Related: China’s CB Mentions Hong Kong’s Crypto Stance in a New Report

Are There Affordable Rental Options in Hong Kong?

Hong Kong remains one of the most expensive cities in Asia due to limited land availability, population density, and a steady flow of international investment.

The property market is heavily regulated and largely controlled by major developers, which has slowed the growth of affordable housing projects. In this dense metropolis, where high-rises replace traditional street layouts, rent remains one of the most significant living expenses.

• Mid-Levels Central 

A prestigious neighborhood on the slope of Victoria Peak, it is especially convenient for professionals working in Central, just 10 minutes from Central via the escalator. Popular with finance professionals, lawyers, and executives, it offers fitness centers, fine dining, and international schools. Studios start at $3,000.

• Sai Ying Pun and Sheung Wan 

Located on the western edge of Hong Kong Island, they offer proximity to Central but with a noticeably calmer atmosphere. Popular among expats, freelancers, and students, one-bedroom apartments here start at around $2,200.

• Tai Kok Tsui (Kowloon) 

One of the most crowded and lively districts, Tai Kok Tsui offers affordable housing in older buildings, with easy access to MTR stations, parks, and markets. Rent ranges from $1,500 to $1,800.

• Tuen Mun 

A residential district on the western edge of the New Territories, Tuen Mun is a popular choice despite its distance from Central (about 50 minutes by MTR). Popular for its proximity to beaches, parks, and new housing, it suits those seeking quiet and not commuting to the city center frequently. Rental prices start at $1,000–1,200.

Crypto Detox Spots Worth Visiting

Even if you’re in town for a meetup or blockchain conference, take a day to unplug and explore some of the city’s iconic landmarks:

• Victoria Peak 

The city’s most iconic viewpoint, Victoria Peak offers panoramic views of the skyline and harbor. It’s especially striking at twilight and into the night, when Hong Kong turns into a glowing sea of lights.

• Mong Kok 

A bustling district alive with night markets, electronics shops, and street food stalls. It’s Hong Kong in full sensory overload—loud, vivid, and tightly packed, like a scene of a neon-lit future.

• Kowloon Bay 

A former industrial zone turned creative cluster, Kowloon Bay is now home to tech parks, art spaces, and experimental galleries. A go-to for those looking for something contemporary and unconventional.

• Lantau Island 

A nature retreat just outside the city. Here you’ll find the towering Big Buddha, the scenic Ngong Ping cable car, and quiet sandy beaches—perfect for recharging after a week of Web3 immersion.

Hong Kong is for you if you:

• Want strict but flexible regulation and fast access to the Asian market
• Prefer proximity to China without being subject to its restrictions
• Thrive in a fast-paced environment

Hong Kong might not be for you if you:

• Prefer a relaxed, low-cost crypto environment
• Struggle with dense urban living and constant noise
• Feel uncomfortable living in a heavily surveilled environment

Remember that despite its formal autonomy, Hong Kong maintains a robust surveillance system coordinated by Chinese intelligence agencies. Foreigners operating in the city, especially in finance and digital technology, should be prepared for their activities to be closely monitored.

Related: Hong Kong Police Arrested 27 Suspects in $46.3M Crypto Scam