(MENAFN- CoinXposure) Hong Kong Legislative Council member Johnny Ng responded on social media on September 15 to remarks made by Ethereum co-founder Vitalik Buterin regarding Hong Kong's prospective“friendliness” towards cryptocurrencies.
Ng stated that he“sincerely invites” Buterin to visit Hong Kong to gain a greater understanding of the region. In addition, he stated that he would“coordinate with relevant institutions and businesses to share the Hong Kong situation.”
Buterin stated on September 14 at the Web3 Transition Summit in Singapore,“I don't comprehend Hong Kong very well. Recently, I have comprehended even less about the intricate interactions between Hong Kong and the mainland.”
If a crypto project wants to make Hong Kong its home, they need to be confident that it will continue to be friendly in the years to come, when unknown regulatory, political, and other events will occur,” he explained.
Even though Hong Kong is currently friendly, he continued by asking,“How stable is the level of friendliness?” Along with his invitation to Hong Kong, Ng addressed Buterin's concerns explicitly by stating that Hong Kong's policies“will not change overnight.”
Ng also emphasised that all policies and laws in Hong Kong undergo a period of discussion that includes“government policy writing, public consultation, and discussions in multiple committees of the Legislative Council and General Assembly.”
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Hong Kong has maintained its position as the most“crypto-ready” location for two consecutive years, with a score of 8.36 compared to the United States' score of 7.
HashKey and OSL were the first exchanges to receive permission to offer retail crypto services in Hong Kong on August 30. OKX, a Hong Kong-based cryptocurrency exchange, has recently entered the concluding phase of preparation for its licence.
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