Can Hong Kong and Shanghai’s Digital Asset Platforms be Interconnected?
A Hong Kong lawmaker, Johnny Ng, expressed his hopes for exploring the possibility of interconnectivity between digital asset platforms in Hong Kong and Shanghai. He believes that the cooperation between web3 industries in the two cities could be beneficial.
Key Points:
- Ng hopes for more cooperation between web3 industries in Hong Kong and Shanghai, considering Shanghai’s status as a financial center.
- He wonders if the licensed digital asset exchanges in Hong Kong can be interconnected with Shanghai’s exchanges in the future.
- Ng also hopes for more web3 talent exchanges between Hong Kong and the mainland.
- Hong Kong has been welcoming crypto firms and encouraging banks to work with them, in contrast to China’s ban on cryptocurrency transactions.
- In October, Hong Kong released policy statements to strengthen its position as a global financial center, and in December, a licensing regime for virtual asset service providers was introduced.
Hot Take: The interconnectivity between digital asset platforms in Hong Kong and Shanghai could present new opportunities for the web3 industries in both cities. This collaboration could foster innovation and growth in the crypto sector, benefiting investors and further establishing Hong Kong as a global web3 hub.
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