Local crypto operators say their presence is clearing up any doubts about Beijing’s attitude toward Hong Kong’s efforts to become a crypto hub. The low-key support shows that officials are keen on using the laissez-faire city as a testing ground for digital assets as they keep a tight rein on any such activity on the mainland.
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Hong Kong’s crypto hub ambitions win quiet backing from Beijing
“As long as one doesn’t violate the bottom-line, to not threaten financial stability in China, Hong Kong is free to explore its own pursuit under ‘One Country, Two Systems,’” said Nick Chan, a National People’s Congress member and a lawyer who advises on cyber-security and digital assets.
