In Hong Kong, where many positive steps have been taken regarding cryptocurrencies recently, positive statements have been received from the minister of finance on blockchain technology and web 3.0. "Like it or not, the blockchain will develop and grow even more in the future," the minister said.
The minister of finance spoke in Hong Kong, which has put into effect new regulatory rules for cryptocurrencies since June 1 and officially accepted Bitcoin and Ether ETFs last year.
Minister Chan Mo-po praised blockchain technology and Web 3 in a statement:
“The basic technology underlying Web 3 is the blockchain. Like it or not, blockchain and crypto will continue to grow and develop in the future. Thanks to blockchain technology, open-source, secure and low-cost platforms can be established. We plan to introduce an appropriate regulatory system in the long term to support the orderly and protected development of virtual assets in Hong Kong”
"Countries are thinking about Asia now”
Stating that after the pandemic, developed economies in the world faced high inflation and therefore countries turned to monetary tightening policies, the minister said, “The Chinese mainland recently showed 4.5% growth. Geopolitical tensions are also rising. Many countries are now considering diversifying their investments by shifting to the Asian side instead of the United States and Europe,”he said.
Finally, the Hong Kong-based Animoca Brands company also announced that the SEC's sanctions only bind the US region, so they will continue their activities outside the US as is.
