Hong Kong Ranks 2nd In Global ‘Crypto Friendliness,’ Following Slovenia In New Report

A recent report by migration platform Multipolitan has identified Hong Kong as the world’s second-most crypto-friendly city, just behind Ljubljana, Slovenia. 

The findings, part of Multipolitan’s Crypto Report 2025, underscore Hong Kong’s growing appeal as a hub for wealth, talent, and innovation in the cryptocurrency sector.

Ljubljana Tops Crypto Friendly Cities Index, Hong Kong Close Behind

The Crypto Friendly Cities Index ranks urban centers based on several criteria, including regulatory frameworks, tax regimes, digital infrastructure, and the concentration of wealth in digital assets. 

Ljubljana, recognized for its proactive approach to blockchain technology and the acceptance of crypto payments at numerous retail locations, took the top spot in the index.

Following Hong Kong in the rankings are Zurich, Singapore, and Abu Dhabi, all of which have made strides in creating favorable environments for cryptocurrency investments and businesses. 

Notably, Slovenia also leads in the concentration of crypto wealth, with the average owner holding approximately $240,500 in virtual assets, compared to $175,000 in Cyprus and $97,500 in Hong Kong.

The rise of so-called “crypto whales”—individuals holding significant amounts of cryptocurrency—has prompted many to seek alternative residences in tax-neutral jurisdictions. 

The United Arab Emirates, particularly Dubai, has attracted numerous affluent industry figures through its Golden Visa program, which grants residency for ten years with a minimum investment of 2 million dirhams (about $544,500).

Nirbhay Handa, co-founder and CEO of Multipolitan, commented on the changing landscape, stating, “We’re moving from birthrights to choices—where individuals pick the jurisdictions, currencies, and communities that serve them best.” He emphasized that the emergence of tokenized assets and decentralized governance is transforming the foundations of society.

New Guidelines To Expand Digital Asset Ecosystem

In alignment with this trend, Hong Kong’s Securities and Futures Commission (SFC) recently announced new guidelines aimed at expanding the city’s digital asset ecosystem. 

These regulations will permit licensed Virtual Asset Trading Platforms (VATPs) and SFC-authorized funds to offer staking services, a practice that allows investors to earn yields on their digital assets while enhancing the security of blockchain networks.

SFC Chief Executive Officer Julia Leung highlighted the importance of regulatory oversight, stating, “Broadening the suite of regulated services and products is crucial to sustain the healthy advancement of Hong Kong’s virtual asset ecosystem.” 

Under the new rules, crypto exchanges and funds wishing to implement staking services must secure written approval from the SFC and adhere to stringent requirements, including proper disclosure, internal controls, and thorough due diligence regarding the blockchain protocols and third-party service providers involved.

This move is part of the SFC’s “ASPIRe” roadmap, introduced in February, which aims to foster the growth of Hong Kong’s virtual asset landscape. 

Featured image from DALL-E, chart from TradingView.com