CZ Urges To Broaden HK Crypto Services To Rival US, UAE

Hong Kong Should Expand HK Crypto Services, Says CZ

Binance Founder Changpeng Zhao, also known as CZ, is calling on Hong Kong regulators to expand HK crypto services to compete with global hubs like the US and UAE. CZ believes that the region has the potential to become a major digital asset center, but only if regulators move quickly to widen the scope of HK crypto services.

CZ Sees Bright Future

According to a recent report, Binance founder Changpeng Zhao has expressed confidence in Hong Kong’s cryptocurrency future. He posited that the city holds a clear vision for embracing Web3 and commended the government's swift action.

Significantly, Hong Kong stands out as a crypto-friendly hub, diverging from mainland China's stricter digital asset regulations. The city has taken pivotal initiatives to foster digital asset and blockchain developments in the region. Recently, at the Bitcoin Asia 2025 conference, SFC policy manager Clarence Shen underscored the region’s vision of building itself into a trusted BTC liquidity hub.

HK Crypto Services To Be Expanded

However, HK crypto services are currently constrained by limited cryptocurrency options and exchanges. As of now, Bitcoin (BTC), Ether (ETH), Avalanche (AVAX), and Chainlink (LINK) are the only cryptocurrencies available for trading on licensed exchanges.

Despite these limitations, Changpeng Zhao remains confident of the city’s potential, driven by its favorable conditions and the government’s enthusiasm. He emphasized that a region's future prospects shouldn't be judged solely on its current situation. He noted,

“We shouldn’t evaluate a place’s future potential based on its current status. We should assess it based on the speed of change.”

Further, he added that the HK crypto services should be expanded to compete with major players like the US and the UAE. He urged the authority to establish more licensed cryptocurrency exchanges and increase the number of digital assets available across them. He added,

There’s nothing magical about what the US, UAE or other countries are doing. Maybe tomorrow, there could be a meeting in Hong Kong where [officials] say, ‘Look, we’re going to change some things.

Bitcoin to Become the Global Reserve Asset: CZ

In a parallel development, the Binance founder posited that Bitcoin is poised to become the global reserve asset. Speaking at the Bitcoin Asia event, he also addressed the growing adoption of BTC among institutions and governments.