Hong Kong —

Hong Kong is eager to embrace cryptocurrency.

Crypto exchange shops now greet customers in shopping malls. Hundreds of crypto ATMs have sprung up along the city’s busy streets. And last week, Eric Trump – son of United States President Donald Trump and now a central figure in the family’s crypto empire – was featured at the Bitcoin Asia summit in the global financial center.

Hong Kong has ambitious plans to tap into the $3.8 trillion digital assets market with new legislation rolled out last month that will allow licensed businesses to issue stablecoin, a type of cryptocurrency pegged to real-world assets like the US dollar. As mainland China has banned crypto trading and mining, the success of the stablecoin ecosystem in the city, as the country’s testing ground, could pa

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