What do you think of Hong Kong's plan to issue licenses to virtual currency exchanges on June 1 and mainland China's ban on virtual currency trading? What are the differences between the two? Tell us what you think?
With the legalization of virtual currency trading and investment in Hong Kong, funds floating abroad will quickly gather in Hong Kong. This is beneficial to us from every perspective.
We all know that the mainland has banned cryptocurrency investment many times, but the demand for cryptocurrency investment has not been eliminated.
Since their targets are obvious, those large funds can only flow overseas and are circulating in the United States, Europe and other places. These assets were originally Chinese assets and have all flowed abroad.
The key is that these assets can flow freely around the world, bypassing the State Administration of Foreign Exchange, which to a certain extent is also a loss of state-owned assets.
However, it is impossible for the mainland to declare the legalization of virtual currency, which runs counter to the major policies of reaching carbon peak and shifting from virtual to real this month.
But I think Hong Kong, with its different ownership system, can completely replace the mainland to achieve some of the things that the mainland wants to do but cannot do.
As a result, Hong Kong became the offshore center of the RMB. Not only the currency circle, but almost all capital, consortiums, and institutions in the world began to transfer funds to Hong Kong and set up branches in Hong Kong.
After all, the mainland China market is too attractive.
The legalization of virtual currency transactions in Hong Kong did not happen suddenly, but was the result of the decision from above. Just think about it, without the support from above, would Hong Kong dare to develop virtual currency in such a big way?
Virtual currency has always had a bad reputation. Hong Kong is part of China, and the fact that it can operate in this way must have been tacitly approved.
Therefore, cryptocurrency investors now do not have to worry about the trouble of depositing and withdrawing funds when investing in cryptocurrency. Now you only need a Hong Kong and Macau Pass and a Hong Kong bank card to realize the free flow of funds.
So the only remaining concern is: how to make money in the cryptocurrency world, and make money reasonably and legally.
As for the mainland, it is impossible to legalize virtual currency transactions in a short period of time. The loophole of Hong Kong is enough.
The above is still smart, and it truly embodies the working style of doing things with both hands.
After all, many countries have legalized it and it has developed very well, especially the new generation of young people, who mainly invest in the cryptocurrency world rather than the stock market.
As long as this demand exists, there will be a huge amount of capital flowing around this demand.
It is best to let these funds flow within your own territory.
The most important thing is whether virtual currency is the future. It is indispensable for the technological development and innovation of blockchain at present.
For some things, we don’t know the future, so we might as well develop them first and see as we go.
