How is Hong Kong setting itself up to be a crypto hub in Asia?
Many in the industry believed China’s crypto policy would influence Hong Kong.
Vivien Khoo, co-founder and chairwoman of the crypto industry association, Asia Crypto Alliance, told Cointelegraph that it’s important to differentiate between crypto and Web3 more broadly when looking at the relationship between Hong Kong and mainland China. “The Hong Kong government is a big proponent of Web3 rather than specifically pro-crypto. The digital assets ecosystem is much broader than crypto alone; while mainland China banned cryptocurrencies in 2021, it is bullish on the potential of Web3 and the application of blockchain technologies. The Web3 and digital finance industries look set to continue to grow overall in greater China,” Khoo explained.
On one side, Hong Kong will become the “stage for Chinese founders, venture capitalists, institutions and exchanges, where they cluster together and explore the frontier of the industry,” while on the other, “China mainland will continue its policy under the central bank’s guidance to prevent the prevalence of crypto onshore in the consistency of the capital control.
Binance CEO Changpeng Zhao has said that the developments in Hong Kong, particularly the onboarding of retail traders, could very well
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Hong Kong detains 8 people on eve of Tiananmen Square anniversaryHong Kong police have detained eight people on the eve of the 34th anniversary of China’s Tiananmen Square crackdown.
Read more »
Hong Kong, once home to Tiananmen vigil, now hosts pro-China carnivalVictoria Park epitomizes the broader erosions in Hong Kong: In four years it has gone from candlelight vigil to heavily policed desolation to flag-waving carnival.
Read more »
Hong Kong detains 8 people on eve of Tiananmen Square anniversaryHong Kong police have detained eight people on the eve of the 34th anniversary of China’s Tiananmen Square crackdown.
Read more »
Hong Kong: Four Arrested for 'Seditious' Acts on Tiananmen AnniversaryPolice arrested four people in Hong Kong for “seditious” acts on the eve of the Tiananmen Square massacre anniversary.
Read more »
Arrests and tight security in Hong Kong on Tiananmen anniversaryHong Kong police said they had detained eight people near a park, as authorities tightened security on the 34th anniversary of the 1989 Tiananmen Square crackdown.
Read more »