Not like China: Hong Kong reportedly wants to legalize crypto trading

Techkoy407

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Quote from: pangu on October 22, 2022, 05:40:23 AM

Hong Kong is taking action to regain its status as a global cryptocurrency hub by launching several legal initiatives related to the crypto industry:
https://cointelegraph.com/news/not-like-china-hong-kong-reportedly-wants-to-legalize-crypto-trading

The territory of Hong Kong includes a group of small islands not far from mainland China.

Until 1997, Hong Kong was a British colony, which was then ceded to China.

Since then, Hong Kong and China have become one country with two systems.

Hong Kong or officially the Hong Kong Special Administrative Region, has its own government, flag and currency.

Source: compass

But even so, Hong Kong remains under Chinese rule, so there will definitely be opposition, from the Chinese government.

Marcellin9

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Hong Kong's intention to legalize crypto trading is not a sign against China but truly an experiment of crypto trading within China's soil. Hong Kong's autonomy is limited somhow and it relects the central government's will and influence in many ways. The statement here is a positive expression. Hong Kong is truly part of China and only the infusion of mainland China will bring Hong Kong's economy to life. Nothing is gonna stop this. Time has changed.

Die_empty

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Give all before death

Quote from: pangu on October 22, 2022, 05:40:23 AM

Hong Kong is taking action to regain its status as a global cryptocurrency hub by launching several legal initiatives related to the crypto industry:
https://cointelegraph.com/news/not-like-china-hong-kong-reportedly-wants-to-legalize-crypto-trading

Hong Kong has always been more open-minded and flexible than Mainland China. These initiatives are no doubt a welcomed development in the crypto space but they are just proposals or bills. These bills have to go through a lot of legislative processes. And sometimes the bill initiators have to do a lot of lobbying for these bills to see the light of day.

Politically Hong Kong is going through a lot of intimidation by mainland China. But Joe Biden's acceptance that the US and its Allies would send troops to defend Hong Kong if China invades would always be a deterrent to the preparing invader. It might put Hong Kong in a better position than Ukraine.

Kavelj22

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Quote from: Gyfts on October 23, 2022, 01:26:10 AM

Quote from: Kavelj22 on October 22, 2022, 04:27:42 PM

Quote from: BADecker on October 22, 2022, 02:21:51 PM

But Hong Kong is part of China, now. Will China let them?

Cool

The island enjoys autonomy and operates in a political and social system completely different from that followed by China. Taiwan cannot disengage from China, and the latter keeps it under a watchful eye.

Taiwan can pass internal laws without referring to China, but this may not be a wise decision since China does not support cryptocurrencies given that China is the first economic partner of the island.
Taiwan, however, cannot give up the bulk of its interests with China or with other allies that do not support cryptocurrency.

Not really. Hong Kong's autonomy is limited. They're controlled and operated by China with a marginal amount of additional freedoms that mainland Chinese citizens don't enjoy.

https://www.reuters.com/world/china/chinas-xi-says-full-control-over-hong-kong-achieved-determined-taiwan-2022-10-16/

Xi Jinping considers Hong Kong to be part of China. A couple years ago, China would ship in law enforcement to take over the region and it has pretty much been under their control since.

Yesterday, I followed the results of the decisions of the Twentieth Congress of the Communist Party of China, which stipulate in its most important articles that Taiwan is a Chinese province and the expansion of the influence of the Chinese president within the party, who is considered the largest adherent to the island of Taiwan as part of the Chinese People's Republic.

This is no alarm bell for Taiwan, as it can still enjoy autonomy without coming out from under the Chinese cover, as the anti-Chinese countries (mainly America and its allies) seek. On this basis, the adoption of cryptocurrencies may not represent a big problem for China as much as it will represent for Taiwan, which may be looking for new customers with new ingredients in an attempt to get rid of the influence of its traditional partners.

Gyfts

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Quote from: Kavelj22 on October 22, 2022, 04:27:42 PM

Quote from: BADecker on October 22, 2022, 02:21:51 PM

But Hong Kong is part of China, now. Will China let them?

Cool

The island enjoys autonomy and operates in a political and social system completely different from that followed by China. Taiwan cannot disengage from China, and the latter keeps it under a watchful eye.

Taiwan can pass internal laws without referring to China, but this may not be a wise decision since China does not support cryptocurrencies given that China is the first economic partner of the island.
Taiwan, however, cannot give up the bulk of its interests with China or with other allies that do not support cryptocurrency.

Not really. Hong Kong's autonomy is limited. They're controlled and operated by China with a marginal amount of additional freedoms that mainland Chinese citizens don't enjoy.

https://www.reuters.com/world/china/chinas-xi-says-full-control-over-hong-kong-achieved-determined-taiwan-2022-10-16/

Xi Jinping considers Hong Kong to be part of China. A couple years ago, China would ship in law enforcement to take over the region and it has pretty much been under their control since.

Kavelj22

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Activity: 1778

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🔃EN>>AR Translator🔃

Quote from: BADecker on October 22, 2022, 02:21:51 PM

But Hong Kong is part of China, now. Will China let them?

Cool

The island enjoys autonomy and operates in a political and social system completely different from that followed by China. Taiwan cannot disengage from China, and the latter keeps it under a watchful eye.

Taiwan can pass internal laws without referring to China, but this may not be a wise decision since China does not support cryptocurrencies given that China is the first economic partner of the island.
Taiwan, however, cannot give up the bulk of its interests with China or with other allies that do not support cryptocurrency.

BADecker

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But Hong Kong is part of China, now. Will China let them?

Cool

pangu

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CoinMetro

Hong Kong is taking action to regain its status as a global cryptocurrency hub by launching several legal initiatives related to the crypto industry:
https://cointelegraph.com/news/not-like-china-hong-kong-reportedly-wants-to-legalize-crypto-trading

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