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Johnny Ng, a Hong Kong lawmaker, assures Vitalik Buterin of his considerations in regards to the nation’s crypto regulation, saying the insurance policies are “very secure.”
Hong Kong and crypto regulation: a lawmaker reassures Vitalik Buterin
A member of Hong Kong’s Legislative Council, Johnny Ng, responded on X (previously Twitter) to considerations expressed by Ethereum co-founder Vitalik Buterin.
Principally, Buterin, throughout this 12 months’s Web3 Transition Summit held in Singapore on 4 September, reportedly warned crypto initiatives in search of to maneuver their operations to Hong Kong.
On this regard, Johnny Ng responded to Buterin by starting his tweet (translated with Google translate) as follows:
“Yesterday Vitalik Buterin, the founding father of Ethereum, shared his views on the event of the cryptocurrency mission in Hong Kong. I respect his proper to talk, however on the identical time I believe he doesn’t perceive or know the scenario in Hong Kong. I’ve the next invites and views.”
Subsequent, the lawmaker then invited Buterin to go to Hong Kong to raised perceive the scenario, and stated one thing about it.
Hong Kong: lawmaker’s responses on the nation’s crypto regulatory insurance policies
First, Ng specified that Hong Kong is a Particular Administrative Area (SAR) with established procedures for making insurance policies and legal guidelines.
For instance, each coverage or legislation in Hong Kong should undergo a dialogue interval, which incorporates coverage drafting by the federal government, public session, dialogue in varied committees and normal conferences of the Legislative Council, and so forth.
The legislator then responded to Buterin on his misgivings in regards to the interplay between Hong Kong and mainland China, stating the next:
“The central authorities has all the time expressed its help for the event of ‘one nation, two methods’ in Hong Kong, so there may be room for Hong Kong to formulate a coverage on digital belongings and welcome compliant international firms to develop in Hong Kong.”
Lastly, Ng’s tweet concludes by explaining that crypto pleasant regulatory insurance policies in Hong Kong are “very secure.”
Predictions about the way forward for the Ethereum mission
Additionally just lately, Buterin made public some predictions concerning the way forward for the Ethereum crypto mission.
Principally, Buterin defined that he doesn’t need Ethereum to relaxation on its laurels, however as an alternative to proceed to develop new progressive concepts.
Simply as occurred with DeFi and NFTs, Buterin needs it to innovate once more, all the time constructing on crypto expertise and thus decentralized platforms that till a number of years in the past, didn’t exist.
On this regard, the Ethereum co-founder stated he was significantly curious about Farcaster, specifically a decentralized protocol just like Twitter, however constructed on OP’s core community, on which there’s additionally the Warpcast cell app.
And certainly, Buterin has lengthy been much less and fewer current on X, whereas he’s rather more so on Warpcast, the decentralized social community.
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