Changpeng Zhao (CZ), the founder of Binance, believes that Hong Kong should increase the number of cryptocurrencies available on its licensed exchanges to remain competitive with global crypto hubs like the U.S. and the UAE.
In an interview with the South China Morning Post, Zhao praised Hong Kong's proactive and positive approach to Web3, stating that the city has a "very clear attitude towards embracing Web3" and can move quickly. However, he pointed out that the current limitation of only four cryptocurrencies for retail traders—Bitcoin, Ether, Avalanche, and Chainlink—is "not enough."
These restrictions were imposed by the Securities and Futures Commission (SFC) when it legalized retail trading in August 2023. Under these rules, tokens must be included in at least two major investible indices, with one coming from a traditional finance index provider. Zhao suggested that Hong Kong's approach is "conservative," noting that Japan's system offers exchanges more autonomy in listing assets.
Although he stepped down as Binance CEO, Zhao continues to engage with regulators and advises on the industry. He also remains the largest owner of BNB tokens.
Looking ahead, Hong Kong is expected to release a more detailed digital asset policy framework by the end of the year, which will further define its strategy to become a leading crypto hub amidst a global landscape of varied regulatory approaches.
August 2025, Cryptoniteuae