Ethereum Co-Founder Vitalik Buterin Criticized for Comments on Hong Kong
Vitalik Buterin, the co-founder of Ethereum, faced backlash for his remarks about Hong Kong’s status as a crypto-friendly hub. Local lawmaker Johnny Ng criticized Buterin for questioning whether Hong Kong will remain hospitable to the crypto industry in the long term. Ng invited Buterin to visit Hong Kong and understand the situation firsthand, offering to coordinate with relevant institutions and enterprises.
昨天就以太坊創始人Vitalik Buterin分享關於在香港發展虛擬資產項目 (Cryptocurrencies Project) 的看法，我尊重他的發言權利，但同時認為他不了解和不:認識香港的情況。我有以下邀請和看法:
1. 我現誠意邀請Vitalik先生來香港了解情況。我願意協調相關的機構和企業向其分享香港的情況。
2.… pic.twitter.com/pnXipv7YE0
— Johnny Ng 吴杰庄 (@Johnny_nkc) September 15, 2023
Vitalik Buterin had expressed concerns about the long-term stability of Hong Kong’s friendliness towards crypto companies during a conference in Singapore. He emphasized the need for confidence in Hong Kong’s regulatory and political environment over time. However, Ng refuted Buterin’s remarks, asserting that the country and Hong Kong do not face the complications he mentioned. Ng highlighted that the central government supports Hong Kong’s development under the “one country, two systems” policy and welcomes global compliance companies in the city.
Yesterday in Singapore, NFTChina CEO Tony asked a question to Vitalik Buterin. pic.twitter.com/5Iwbu7p46u
— NFTChina (@nftchinahk) September 15, 2023
Buterin’s concerns may stem from China’s crackdown on the technology industry and the ban on cryptocurrencies within China itself. The implementation of a national security law in Hong Kong in 2020 has caused businesses to reduce their exposure to the city due to uncertainties surrounding its implications. Despite this, Ng remains optimistic about Hong Kong’s commitment to the crypto industry, stating that the city’s policies and laws have undergone extensive consensus and procedures, ensuring stability.
Hot Take: Hong Kong’s Crypto Industry Future Remains Uncertain
The clash between Vitalik Buterin and Johnny Ng highlights the uncertainty surrounding Hong Kong’s crypto industry. While Ng asserts that Hong Kong’s policies are stable and supportive of the crypto sector, Buterin’s concerns about regulatory and political events in the future cannot be dismissed. As China exerts greater control over Hong Kong, businesses may continue to question the long-term viability of establishing crypto ventures in the city. It remains to be seen how Hong Kong will navigate its relationship with China while maintaining its position as a global crypto hub.
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