Despite a strict crypto ban on the Chinese mainland, officials in Beijing have not been openly opposed to Hong Kong's desire to become a crypto hub, according to people familiar with the matter.
Hong Kong’s ambition of becoming a cryptocurrency hub is reportedly seeing subtle support from the Chinese government, in what could be seen as a contrast to the mainland’s hard-line anti-crypto stance.introducing its own bill to regulate crypto
and allow retail investors to “directly invest into virtual assets” that could possibly be in contrast to China’s widespread crypto ban. According to people familiar with the matter, Beijing officials have not been brazenly opposed to the idea. According to a Feb. 20 Bloomberg report, it isthat representatives from the China Liaison Office have been frequenting Hong Kong crypto gatherings seeking to understand what's going on.
So far, their encounters with Beijing officials on the matter have been friendly, according to those familiar, which is being perceived by local crypto business operators that Beijing — albeit very subtly — may be open to using Hong Kong as a testbed for crypto.What makes it even more interesting is the People's Bank of China is one of the only central banks in the world cutting rates & easing.
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