Mayor Eric Adams said on May 12 that the Big Apple is “open for business” with crypto companies. UK’s crypto hub push goes quiet, but London’s still callingIn 2023, then-Prime Minister Rishi Sunak launched a bold vision to make the UK a global crypto hub, pushing for stablecoins to be recognized as regulated payment instruments and outlining a broader framework to integrate crypto into the country’s financial system. That momentum translated into real movement: In April 2025, the UK Treasury released near-final legislation aimed at bringing crypto assets — like trading platforms, stablecoins and staking services — within the country’s regulatory perimeter.
It has also introduced stablecoin sandboxes under the supervision of the Hong Kong Monetary Authority to trial approved digital assets in a controlled environment.“Sandboxes are an experiment, so too are staking ETFs,” said Kelvin Koh, a Spartan Group co-founder.“The key point is that these experiments are happening in Hong Kong.”Hong Kong recently released its ASPIRe roadmap in February 2025, which aims to foster blockchain innovation and fill regulatory gaps to set the city up as a global crypto hub.
Related: The lessons learned at Operation Chokepoint 2.0 Congressional hearingsCrypto firms have reported easier access to banking services in Dubai, which is an improvement over the challenges companies say they’ve faced in the US under “Operation Chokepoint 2.0.”Hong Kong makes crypto hub push with retail access and staking ETFsHong Kong has long acted as a financial gateway to mainland China, where crypto activities like mining and trading remain banned.
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