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.
昨天就以太坊創始人Vitalik Buterin分享關於在香港發展虛擬資產項目 (Cryptocurrencies Project) 的看法，我尊重他的發言權利，但同時認為他不了解和不:認識香港的情況。我有以下邀請和看法:
1. 我現誠意邀請Vitalik先生來香港了解情況。我願意協調相關的機構和企業向其分享香港的情況。
2.… pic.twitter.com/pnXipv7YE0
— Johnny Ng 吴杰庄 (@Johnny_nkc) September 15, 2023
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. As we reported as Kriptokoin.com, the 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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