![]() ![]() ![]() Mark Connors, head of research at 3iQ, said China is likely being pulled toward crypto rather than pushing on its own, because it needs new revenue streams to help service its debts. “I have literally been laughed at when I tell people that our business is in the U.S.” Leo Mizuhara, CEO, Hashnote grows increasingly hostile toward the sector. But Hong Kong’s new approach could have a bigger impact, experts say, because of the potential for China, the world’s second-biggest economy, to embrace crypto as the U.S. The shift in Hong Kong’s attitude toward digital currencies follows similar actions by governments in Dubai and Singapore. 0Ts1UB0jnL- CZ □ Binance May 27, 2023Īnd on Monday, two new Hong Kong–based industry associations, Hong Kong Licensed Virtual Assets Association and Web3 Harbour, also launched with “a shared commitment to the long-term growth and development of the virtual asset economy and decentralized internet,” according to a press release. Interesting timing on this Web 3.0 white paper from the Beijing government tech committee with the June 1st anticipation in Hong Kong. ![]() Changpeng “CZ” Zhao, CEO of the world’s largest crypto exchange, Binance, posted a copy of the white paper on Twitter, noting the “interesting timing.” The report seemed to affirm at least some commitment to supporting blockchain-related companies ahead of the implementation of Hong Kong’s new policy. Over the weekend, Beijing added to the speculation of a crypto renaissance in the country after the Beijing Municipal Science and Technology Commission and the Zhongguancun Science and Technology Park Management Committee released a white paper on Web3 technologies, according to local media. Just two exchanges, OSL Digital Securities Limited and Hash Blockchain Limited, have been licensed so far, according to the SFC’s website, but several others, including Huobi and OKX, have said they plan to apply for licenses. ![]()
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