Hong Kong wants to assert itself as a major center for the development of crypto technology. It is in this context that regulators are going to organize a meeting between crypto companies and bankers in this region. The objective is to facilitate the financing of the sector.
Hong Kong, the next crypto leader in Asia?
The meeting will be held on April 28 at the premises of the Hong Kong Monetary Authority. According to the reportthe meeting is made to facilitate direct dialogue ” And ” share practical experiences and perspectives for opening and maintaining bank accounts “.
With this event, Hong Kong confirms its intention to become an important center of Blockchain development. According to a report by CryptoPotato, Hong Kong subsidiaries of some major Chinese banks have already started offering their services to local crypto projects. Examples include Bank of China, Bank of Communications and Shanghai Pudong Development Bank.
For now, the Chinese government that controls Hong Kong remains silent about the city’s plans. Recall that China showed its hostility to cryptos in 2021 by banning all types of transactions.
Will the bull market come from this meeting?
The crypto industry loves this kind of good news. Besides, good news often causes bull markets. In this regard, Arthur Hayes rightly states ” Hong Kong’s friendly shift towards crypto-skeptic China reasserting itself in crypto capital markets. When China loves crypto, the bull market will return. It will be a slow process, but the stage is set. »
Hayes also thinks the banking crisis that seems to be rocking the world could spread further. It could thus force Hong Kong to part with its American dollars. Crypto could then prove to be a good store of value.
Meanwhile, in the United States, the SEC, the stock market policeman, is doing everything possible to put an end to cryptos. Lawsuits against crypto companies never end. Could Uncle Sam’s country’s decision to buck the global trend be the right one?
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