The Hong Kong government attended a tech conference in Toronto to unveil a ready-made tech hub for Canadian crypto and Web3 startups. Toronto ETO, InvestHK and StartmeupHK hosted an event highlighting Hong Kong's crypto-centric landscape.

Toronto ETO director Emily Mo highlighted existing startup-friendly regulations, such as lower taxes compared to Canada, and Hong Kong's willingness to work with "specialist pre-commercial technology companies." Mo noted that Canadian businesses are allowed to receive public and private financing in Hong Kong.

All unlicensed crypto exchanges operating in Hong Kong were closed in June. Although more than 20 exchanges initially applied for a crypto license, most of them withdrew their applications after failing to meet the set requirements.

Gate.HK, a Hong Kong-based cryptocurrency exchange, said it will relaunch its services after bringing its platform into compliance with Hong Kong's regulatory requirements. These requirements include establishing Anti-Money Laundering and Anti-Terrorism Financing measures.

Crypto exchanges that have withdrawn their license applications include leading global players such as OKX, Huobi HK and Bybit. What do you think about this? We are waiting your comments.