Ethereum founder Vitalik Buterin recently expressed concerns about Hong Kong’s stance on crypto. Today, a Hong Kong politician tried to calm Buterin’s concerns. He even offered a private tour of the country…
Ethereum founder questions Hong Kong’s crypto-friendliness
Vitalik Buterin, co-founder of Ethereum, made statements questioning Hong Kong’s attitude towards cryptocurrencies at the Web3 Transition Summit held in Singapore recently. He stated that Hong Kong currently offers a “friendly” environment. However, he stated that he had doubts about whether this situation would continue in the future. Buterin stated that he did not fully understand the complex relations between Hong Kong and mainland China.
Hong Kong Legislative Assembly member Johnny Ng responded to Buterin in statements made on September 15. Ng invited the Etehreum founder to the city to better understand Hong Kong’s crypto friendship. Additionally, Ng promised Buterin to cooperate with relevant institutions and companies to share the situation of the city.
Responding directly to the Ethereum founder’s concerns, Ng emphasized that Hong Kong’s crypto policies will not change overnight. Ng said, “All relevant strategies and regulations have been shaped by major social consensuses and complete procedures. “For this reason, I can tell Vitalik Buterin that Hong Kong policies are extremely stable,” he said.
Hong Kong government’s approach to cryptocurrency
Providing information about the policies and laws of the Hong Kong government, Ng stated that all processes take place through government policy writing, public consultation and discussions in the Legislative Assembly and the General Assembly.
Ng emphasized that policies are determined by a large social consensus. Hong Kong has managed to retain its title as the most “crypto-ready” city for two consecutive years thanks to its crypto-friendly policies. Hong Kong maintains its title with 8.36 points, while the USA ranks second with 7.25 points. Therefore, Ng can make confident statements against the Ethereum founder.
Crypto exchanges in Hong Kong are reshaping
Finally, touching on the development of crypto exchanges in Hong Kong, Ng stated that HashKey and OSL received the first approvals to offer crypto services at the end of August. He also mentioned that the cryptocurrency exchange OKX is approaching the final stages of obtaining a license in Hong Kong. These developments regarding Hong Kong’s crypto sector show the city’s determination to build a crypto-friendly future in response to the Ethereum founder’s concerns. It is a matter of curiosity whether Vitalik Buterin will accept this invitation.
Ethereum founder doubts Hong Kong’s crypto stance
Recently, Buterin warned crypto firms that use Hong Kong as a base. He expressed uncertainty regarding Hong Kong’s permanent friendship. cryptokoin.com As we reported, Ethereum exchange wrote the following from account X that day:
I don’t understand Hong Kong well. Lately I have become even less understanding of the complex interaction between Hong Kong and the mainland. Frankly, he’s very friendly now. But the big question I ask, and I think everyone asks, is: How stable is the level of friendship?
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