Bitcoin saw a surge in prices followed by stabilization, while other cryptocurrencies have recovered some of their losses. However, Hong Kong's banks are not yet ready to support the city's ambition to become a cryptocurrency hub due to strict requirements. The US regulatory system is outdated, leading many projects to seek better-regulated jurisdictions in Asia and the Middle East.

Despite remaining optimistic, Hong Kong still has a long way to go before it can be considered a crypto hub. Today's important events include economic indicators and news about blockchain use cases, Ripple partnerships, and Hong Kong's pressure on banks to work with crypto exchanges.