July 16, 2024
Johnny Ng, Hong Kong Legislative Council member, invites Ethereum's Vitalik Buterin.
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Crypto-Friendly Hong Kong: Johnny Ng’s Response to Vitalik Buterin’s Concerns

Johnny Ng, a member of Hong Kong’s Legislative Council, recently took to social media on September 15th to respond to remarks made by Ethereum co-founder Vitalik Buterin regarding the future receptiveness of Hong Kong towards cryptocurrencies. Ng extended a sincere invitation to Buterin, encouraging him to visit Hong Kong and gain a deeper understanding of the region’s dynamics. Furthermore, he expressed his intent to collaborate with pertinent institutions and businesses to provide insights into Hong Kong’s current situation.

Buterin’s comments were originally made during the Web3 Transition Summit in Singapore on September 14th, where he confessed his limited comprehension of Hong Kong’s intricate relationship with the mainland. He emphasized the importance for crypto projects considering Hong Kong as their base to have confidence not only in its present crypto-friendly stance but also in its long-term commitment to such friendliness, especially given the unpredictability of regulatory and political events in the future.

Buterin raised concerns about the stability of this friendliness, despite its current existence, prompting Ng to address these concerns directly. Ng assured Buterin that Hong Kong’s policies would not undergo sudden changes, emphasizing that these policies are deeply rooted in extensive social consensus and rigorous procedures. He highlighted the thorough process involving government policy drafting, public consultations, and discussions within various committees of the Legislative Council and the General Assembly.

It’s worth noting that Hong Kong has maintained its position as the leading crypto-ready destination for two consecutive years, boasting a score of 8.36, which surpasses the United States’ rating of 7.25. Notably, on August 30th, HashKey and OSL became the first exchanges to secure clearance for offering retail cryptocurrency services in Hong Kong, and cryptocurrency exchange OKX is currently in the final stages of preparing for its licensing in the region.

Image by freepik

Disclosure Statement: Miami Crypto does not take any external funding, or support to bring crypto news to the readers. We do not have any conflicts of interest while writing news stories on Miami Crypto.

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