FTX founder Sam Bankman-Fried (SBF) spoke at Hong Kong’s FinTech Week 2022 and stated that Hong Kong had actual potential to develop into the Web3 hub of Asia, as reported by Forkast Information.
SBF stated that areas like Dubai and the Bahamas emerge as important crypto hubs of their areas; nonetheless, the image is far more blurry for Asia. Whereas Singapore and Korea carry the potential to develop into crypto hubs of the realm, SBF stated Hong Kong would declare that title.
He acknowledged:
“In case you take a look at what the crypto hubs might be on the earth, I believe the Bahamas seems like considered one of them, Dubai seems like considered one of them, however for those who take a look at the East, it’s not as apparent. It might be Singapore, might be someplace like Busan in Korea, however I believe there’s a actual probability it finally ends up being Hong Kong.”
Hong Kong on Crypto
Primarily based on Chainalysis‘ 2022 World Crypto Adoption Index, Hong Kong ranks 46 amongst 146 nations evaluated based mostly on their crypto adoption ranges. Based on Gemini’s World State of Crypto, Hong Kong leads crypto-adoption within the Asia-Pacific area, with 24% of the inhabitants proudly owning crypto belongings. Greater than half (51%) of the crypto homeowners in Hong Kong acquired their crypto belongings in 2021.
Hong Kong launched a coverage assertion on Oct. 31 and introduced its plans to create a “vibrant sector and ecosystem” for crypto. Based on the report, Hong Kong will enable crypto ETFs and develop pro-crypto rules. The assertion additionally revealed that the Hong Kong authorities has been engaged on pilot tasks like NFT issuance for Hong Kong Fintech Week, Inexperienced Bond Tokenization, and a Central Financial institution Digital Forex (CBDC).
Crypto executives agree with SBF
As quickly because the assertion was launched, many outstanding crypto executives aside from SBF posted supportive feedback for Hong Kong’s new motive.
CEO of New World, Zheng Zhigang, additionally spoke on the Hong Kong Fintech Week and have become one of many first to help the assertion.
CEO of Crypto.com, Kris Marszalek, joined within the supportive crowd by quoting the information on Twitter and saying:
“Nice information for the whole business coming from HK right this moment, highlighting help for crypto and a want to re-build a vibrant crypto hub. We wholeheartedly help this growth.”
Co-Founding father of 100x Arthur Hayes additionally shared his pleasure and help by way of his private Twitter account.
Alternatively, TRON (TRX) founder Justin Solar spoke for each TRON DAO and HuobiGlobal and shared his supportive feedback.
.@trondao and @HuobiGlobal actively help the Hong Kong authorities’s new crypto coverage. See you tonight at 10:00pm @HuobiGlobal dwell! We’ll actively apply for crypto Hong Kong license!
— H.E. Justin Solar🌞🇬🇩🇩🇲🔥 (@justinsuntron) October 31, 2022
