Could Hong Kong really become China’s proxy in crypto?

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Hong Kong recently became more crypto-friendly! Moving forward, what could this mean for Hong Kong and China?

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, 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.


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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 🚀


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