TechFlow news, June 4 — Hong Kong Legislative Council member Ng Ka-chung posted on social media stating, "Singapore recently released the Guidelines on Licensing for Digital Token Service Providers, introducing new policies for companies, institutions, and individuals engaged in virtual assets.
Since issuing its Virtual Assets Declaration in 2022, Hong Kong has actively welcomed the industry to develop within the city. According to informal statistics, over a thousand Web3 companies have already established operations in Hong Kong. If you are currently operating in Singapore and are considering relocating your headquarters and personnel to Hong Kong, I am happy to provide assistance—welcome to develop in Hong Kong!"
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