HK Prof Criticizes China's Crypto Mining Ban 🚫

Criticism of the Ban

Professor Wang Yang from HKUST called China’s crypto mining ban "unwise." He believes this move shifted business to the US, boosting American tax revenue. Wang suggests that China could have mitigated risks by investing in domestic crypto companies instead of banning the industry.

Hong Kong's Crypto Ambitions

Despite China’s strict policies, Hong Kong is positioning itself as a virtual asset hub. Licensing exchanges and launching ETFs, HK is set to be a major player in the crypto market. Wang highlights Hong Kong's innovative and trust-building approach as a key to its success.

Hong Kong’s progressive stance may pave the way for balanced crypto regulations, blending innovation with control.

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