Hong Kong’s Friendly Crypto Policies ‘Very Stable,’ Legislator Assures Vitalik Buterin

A Hong Kong Legislative Council subordinate has assured Ethereum co-founder Vitalik Buterin that the affable cryptocurrency policies successful Hong Kong are “very stable.” In effect to Buterin’s comments expressing his unfamiliarity with Hong Kong and its “complicated interaction” with Mainland China, the legislator has extended an invitation for the Ethereum co-founder to sojourn Hong Kong and get a deeper knowing of the city’s crypto regulations.

Hong Kong’s Legislator Responds to Vitalik Buterin’s Crypto Policy Comments

Johnny Ng, a subordinate of Hong Kong’s Legislative Council, has responded to the remarks by Ethereum co-founder Vitalik Buterin regarding Hong Kong’s crypto policies. Buterin cautioned crypto projects seeking to acceptable up operations successful Hong Kong astatine this year’s Web3 Transition Summit successful Singapore which took spot connected Sept. 4.

“Yesterday, Ethereum laminitis Vitalik Buterin shared his views connected the improvement of virtual plus projects (cryptocurrencies project) successful Hong Kong. I respect his close to speak, but astatine the aforesaid time, I deliberation helium does not recognize the concern successful Hong Kong,” Ng wrote connected societal media level X (translated by Google). He continued:

I sincerely invitation Mr. Vitalik to travel to Hong Kong to recognize the situation. I americium consenting to coordinate with applicable institutions and enterprises to stock the concern successful Hong Kong with them.

Buterin stated astatine the acme that helium doesn’t recognize Hong Kong well. Ng explained that Hong Kong operates nether a “one country, 2 systems” arrangement, with legislative power.

“As a subordinate of the Legislative Council of the Hong Kong Special Administrative Region, I would similar to stock with you that each argumentation oregon authorities successful Hong Kong volition spell done a play of discussion, including authorities argumentation writing, nationalist consultation, discussions successful aggregate committees of the Legislative Council and the General Assembly, etc. So I anticipation Vitalik understands the existent situation,” helium described.

The Ethereum co-founder besides said that helium understands adjacent little the “complicated interaction” betwixt Hong Kong and Mainland China. Ng responded by clarifying that China and Hong Kong “do not person the complications Vitalik said.”

Ng stressed: “The cardinal authorities has ever expressed enactment for the improvement of ‘one country, 2 systems’ successful Hong Kong, truthful Hong Kong has country to formulate policies connected virtual assets and welcomes planetary compliance companies to make successful Hong Kong.”

Buterin further stated that portion crypto policies successful Hong Kong are “very affable now,” helium questioned: “How unchangeable is the level of friendliness?” Ng responded: “Hong Kong’s policies and laws volition not alteration overnight. All applicable strategies and regulations person gone done large societal statement and implicit procedures.” The lawmaker concluded:

Therefore, I tin archer Mr. Vitalik that Hong Kong’s policies are precise stable.

What bash you deliberation astir the legislator’s effect to Ethereum co-founder Vitalik Buterin’s comments astir Hong Kong’s crypto policies? Let america cognize successful the comments conception below.