Underestimated Ambitions and Three Challenges: Unveiling the Hong Kong Cryptocurrency Consultation Paper
wublock.substack.com
Author:William, Special Researcher Editor: WuBlockchain On February 20, 2023, the Hong Kong SFC issued the “Consultation Paper” on cryptocurrency transactions, marking an important step taken by the Hong Kong government in liberalizing the field of cryptocurrency transactions. At first, I did not have high expectations for the “Consultation Paper”. The main reason is that the policy of “allowing retail investors to trade cryptocurrencies” has been rumored before, and the second is based on the experience of Japan, South Korea and other countries. It is believed that Hong Kong’s cryptocurrency policy is basically “allowing 7 million Hong Kong residents to trade a few currencies such as BTC/ETH”, and there has not been much breakthrough. It was not until a few days later that I read the entire “Consultation Paper” that I realized that I had underestimated the will and ambitions of the Hong Kong government. In order to better unveil the “Consultation Paper”, this article will analyze from three aspects: the framework blueprint, opportunities and challenges.
Underestimated Ambitions and Three Challenges: Unveiling the Hong Kong Cryptocurrency Consultation Paper
Underestimated Ambitions and Three…
Underestimated Ambitions and Three Challenges: Unveiling the Hong Kong Cryptocurrency Consultation Paper
Author:William, Special Researcher Editor: WuBlockchain On February 20, 2023, the Hong Kong SFC issued the “Consultation Paper” on cryptocurrency transactions, marking an important step taken by the Hong Kong government in liberalizing the field of cryptocurrency transactions. At first, I did not have high expectations for the “Consultation Paper”. The main reason is that the policy of “allowing retail investors to trade cryptocurrencies” has been rumored before, and the second is based on the experience of Japan, South Korea and other countries. It is believed that Hong Kong’s cryptocurrency policy is basically “allowing 7 million Hong Kong residents to trade a few currencies such as BTC/ETH”, and there has not been much breakthrough. It was not until a few days later that I read the entire “Consultation Paper” that I realized that I had underestimated the will and ambitions of the Hong Kong government. In order to better unveil the “Consultation Paper”, this article will analyze from three aspects: the framework blueprint, opportunities and challenges.