With its partial autonomy, the island city of Hong Kong has traditionally served as “a gate to China” — the local trade center, backed by transparent English-style common law and an openly pro-business government strategy. Could the harbor, home to seven million inhabitants, inherit this role in relation to the crypto industry, becoming a proxy for mainland China’s experiments with crypto?
Finally, on Oct. 31, during the city’s FinTech Week 2022, Hong Kong Financial Secretary Paul Chan assured attendees that the digital transformation of financial services is a key priority for his team. Chan’s colleague, the CEO of the Hong Kong Monetary Authority , Eddie Yue, promised “radical open-mindedness” regarding the innovations.
This uncertainty took its toll indeed — after attracting $60 billion in crypto between July 2020 and June 2021, Hong Kong started to witness the largest players opening up alternative offices in the Caribbean or neighboring Singapore. FTX was joined by the likes of Crypto.com, BitMEX and Bitfinex.
Another major factor behind China’s possible support of Hong Kong’s crypto liberalization, according to Hayes, is the former’s problem with a giant United States dollar trade proficit. Historically, like almost any nation in the world, China has been storing dollar income in assets like U.S. Treasury bonds.
Well,they said Chinese is one of the smartest people in the world. and combine it with crypto like ReadtoEarn NFT project of EarlyMinter, then Hong Kong will become even richer in the future. Even Prof isiqat will not be surprise if ReadtoEarn will be famous in Hongkong
Many of us that saw what the CCP did to Hong Kong in 2019 are never going to see Hong Kong positively. 🇭🇰 adopting crypto won’t encourage us to go back home
I DONT trust China..every yr it’s China banning btc this banning crypto that.. and now they are friendly? Sure tell that to Taiwan or keep saying it to children.. eventually they will believe u.
i'm expecting to see African countries and cities following Hong Kong's steps, especially after BitDAO funding AfricaDAO's mission to drive-up web3 adoption in the continent
Hong Kong is setting themselves up for the future 🚀
ProtestCoin?
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Hong Kong’s once-vibrant movie industry now walks a fine China lineHong Kong cinema was once a point of pride, with hundreds of movies produced annually. But as Chinese censorship increases in the wake of the pro-democracy protests, independent filmmakers are increasingly looking overseas to fund and show their work. Reading this piece, you almost think the US finance its own independent filmmakers. By your own standards, WaPo, the US is a dictatorship... They don't know how they are bringing down the entertainment industry when everyone wants to have an opinion over what should been shown.
Source: washingtonpost - 🏆 95. / 72 Read more »
U.S. imposes new sanctions over Iran sanctions evasion, targets Chinese firmsThe United States on Thursday imposed sanctions on over a dozen companies based in China, Hong Kong and the United Arab Emirates that Washington accused of facilitating the sale of Iranian petrochemicals and petroleum products to buyers in East Asia. China has the US pissing its pants. Lol. Lmao. USA government Is stupid. It is no use sanctioning some of the Chinese firms considering all of the firms are under 100% control of CCP government and they can easily change a name to escape the sanctions.
Source: Reuters - 🏆 2. / 97 Read more »
China says Xi was not criticising Trudeau in meeting at G20China's foreign ministry on Thursday said Chinese President Xi Jinping was not criticising Canadian Prime Minister Justin Trudeau, a day after Xi was seen confronting Trudeau at the G20 summit over alleged leaks from a meeting they held. He wasn't criticised he was fucked in the ass. Trudeau is like a 2 yr old child compared to President Xi. Seamos sinceros.... El primer ministro de Canadá es un chismoso y con esa ligereza le costó mucho en las relaciones diplomáticas con China
Source: Reuters - 🏆 2. / 97 Read more »
Analysis: Have China and India shifted stance on Russia war?China and India, after months of refusing to condemn Russia’s war in Ukraine, did not stand in the way of a G-20 statement in Indonesia by the world’s leading economies that harshly criticized Moscow. Are they shifting their policy? Analysis by APklug klug Errr no klug klug Betteridge's law of headlines is an adage that states: 'Any headline that ends in a question mark can be answered by the word no.' You got taught this in journalism school ! AP do better.
Source: AP - 🏆 728. / 51 Read more »
China to speed up vaccinations, build more designated COVID hospitalsChina plans to speed up COVID-19 vaccinations and will release information to the public in due course, the head of China's Center for Disease Control and Prevention said on Thursday. What, they still vaccinating. Mental asylums for diss... I mean COVID care facilities... ignore what I just said. InstitutionalIdiocy China ZeroCovidNutJobs
Source: Reuters - 🏆 2. / 97 Read more »
After exchange, China calls Canada's manner 'condescending'BEIJING (AP) — A Chinse spokesperson on Thursday accused Canada of acting in a “condescending manner' following a testy exchange between President Xi Jinping and Canadian Prime Minister Justin Trudeau that underscores the depths to which the bilateral relationship has fallen. China can't seem to stick with a story. I wonder why? Xi trucked Trudeau real good didn't he?
Source: AP - 🏆 728. / 51 Read more »