Hong Kong’s Ambition To Be A Crypto Hub Quietly Backed By The Beijing
The mainland government in Beijing may be covertly encouraging the idea as Hong Kong gets ready for a consultation process that might eventually authorize a type of retail crypto trading in the territory, according to Bloomberg.
Representatives from China’s Liaison Office and other officials have been frequent guests at the city’s crypto gatherings over the past months, exchanging business cards and WeChat details which are familiar with the company. In this matter, the person asked to remain anonymous to discuss personal information. Hong Kong rolled out the red carpet for crypto businesses to help revive the struggling financial hub. Signs are emerging that the push has implicit backing from Beijing, giving mainland Chinese companies an incentive to return.
