Hong Kong politician responds to Vitalik’s comments about crypto-friendliness

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Johnny Ng, a member of the Legislative Council of Hong Kong, took to social media on Sept. 15 in response to feedback made by Ethereum co-founder Vitalik Buterin about Hong Kong’s future “friendliness” towards cryptocurrencies. 

Ng mentioned he “sincerely invitations” Buterin to go to Hong Kong to raised perceive the area. Moreover, he mentioned he would “coordinate with related establishments and enterprises to share the state of affairs in Hong Kong.”

On the Web3 Transition Summit in Singapore on Sept. 14, Buterin commented, “I do not perceive Hong Kong nicely. I perceive even much less the difficult interplay between Hong Kong and the mainland these days.” 

“If any crypto challenge needs to make Hong Kong their dwelling, they might need to have some confidence, not simply that it’s pleasant now,” he mentioned, ”however that it’ll proceed to be pleasant years from now when every kind of unknown, regulatory and political and different kinds of occasions are going to occur.”

He continued by saying that although Hong Kong is pleasant now, “How secure is the extent of friendliness?”

Associated: Hong Kong regulator eyes tokenization for bond market enchancment: Report

Alongside along with his invitation to Hong Kong, Ng responded on to Buterin’s issues, saying that Hong Kong’s insurance policies “is not going to change in a single day.”

“All related methods and rules have gone by way of main social consensus and full procedures. Due to this fact, I can inform Mr. Vitalik that Hong Kong’s insurance policies are very secure.”

Ng additionally pressured that each one insurance policies or laws in Hong Kong undergo a interval of dialogue, which incorporates “authorities coverage writing, public session, discussions in a number of committees of the Legislative Council and the Common Meeting.”

This comes as Hong Kong continues to retain its spot as probably the most “crypto-ready” place for 2 consecutive years, with a rating of 8.36 in contrast with the US at 7.25. 

On Aug. 30, HashKey and OSL grew to become the primary exchanges to obtain clearance to supply retail crypto providers in Hong Kong. Cryptocurrency change OKX lately entered the ultimate stage of making ready for its license in Hong Kong.

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