Hong Kong, Çin'in Kripto Merkezi Olma Yolunda mı?

Hong Kong

According to Bloomberg, Hong Kong is preparing for a consultation process that might eventually legalize a form of retail crypto trading in the city. Meanwhile the mainland government in Beijing might be providing soft backing to the idea.

Çin'in bir sonraki kripto merkezi hakkında bir rapor

The officials from China’s Liaison Office have been spotted at kripto gatherings in Hong Kong. Some stakeholders believe that can be seen as an endorsement of the region’s push to lead as a crypto hub. Hong Kong is one of China’s two Special Administrative Regions (SAR) and is looking to exploit its separate legal system and markets to become a hub for the cryptocurrency industry. Hong Kong was China’s first test of open markets in the 20th century.

Per Bloomberg, Nick Chan, a National People’s Congress member and a crypto lawyer said that “as long as one doesn’t violate the bottom line, to not threaten financial stability in China, Hong Kong is free to explore its own pursuit under ‘One Country, Two Systems.’”

Ayrıca, Hong Kong Menkul Kıymetler ve Vadeli İşlemler Komisyonu (SFC) Pazartesi günü perakende kripto ticareti için ilk adımını attı. Bu, perakende ticaret hizmetleri sağlamak için bir lisans arayan Sanal Varlık Hizmet Sağlayıcıları (VASP'ler) için bir danışma süreci başlattı.

Meanwhile, some of the needs the SFC proposed include a due diligence process on tokens prior to listings. This would see just pre-approved tokens that are available to traders along with setting up a risk profile for clients to ensure their exposure is “reasonable.” However, SFC concluded a multi-year consultation process that will see exchanges being allowed to provide service to professional investors on June 1st.

Though, it is still unconfirmed when the SFC ends its consultation process for allowing the access to retail investors. On the other hand, if Hong Kong will reopen its operation then massive fresh inflows of funds can be seen in the crypto market. Hong Kong is the fourth largest financial center in the world followed by New York, London and Singapore. This could make the city one of the largest capital hubs in the world.

Also, Hong Kong is the first option for wealthy Chinese to withdraw their capital from the isolated mainland. Estimates suggest that they moved around $500 billion in the economic zone in order to gain access to the global financial system. Although Hong Kong will not enable truly decentralized crypto applications and self-storage yet, the inflows of new funds could be positive for crypto markets.

Source: https://www.thecoinrepublic.com/2023/03/08/is-hong-kong-on-its-way-to-become-chinas-crypto-hub/