Hong Kong becomes USDT’s new base? Brock Pierce: It’s only a matter of time before China opens up cryptocurrencies

This site (120btC.coM): Recently, many cryptocurrency exchanges announced the withdrawal of Hong Kong license applications. On the other hand, the Bitcoin and Ethereum spot ETFs launched in Hong Kong Transaction volume performance is sluggish, and the once-provocative "Web3 Capital" seems to have become bleak on the international stage. However, investor Brock Pierce, who co-founded the stablecoin Tether in Hong Kong ten years ago, recently said that he is considering returning to work in Hong Kong for the third time.

Brock Pierce: I am passionate about Hong Kong

This Wednesday (29th), the Solowin and Sequire Asia Investor Summit was held in Hong Kong. Brock Pierce, currently the chairman of the Bitcoin Foundation, also attended . While he was less certain about future new projects and whether Hong Kong would become its permanent base of operations, he said Hong Kong had been part of an "ongoing dialogue." Brock Pierce said in an interview with the South China Morning Post on Wednesday: This could lead to big things. I'm going to where I think my time is most valuable. I'm passionate about what's happening in Hong Kong, which means I'm passionate about working here.

Different from the current market trend, Brock Pierce praised Hong Kong’s regulatory environment. He believes that Hong Kong is moving in the right direction and is launching its own cryptocurrency compared to countries such as Singapore, Japan and South Korea. After the policy, Hong Kong is in a good position. Brock Pierce noted that Tradefi remains a particularly strong opportunity in the Hong Kong crypto market.

"I think Hong Kong is leading in many aspects. Hong Kong's main opportunity lies in Tradefi, and this is where Hong Kong's digital dollar stablecoin has huge potential."

China will open up cryptocurrencies sooner or later

Hong Kong has always attracted much attention as the entrance to the huge mainland China market. In the past two years, policy changes have attracted many people in the cryptocurrency industry. Although China has strict prohibitions on crypto activities, and regulators have not yet stated that they will change their policies, the cryptocurrency industry continues to pay attention to the Chinese government's stance on Crypto. Brock Pierce expressed his belief that China will eventually open up the cryptocurrency market: Will China open up (cryptocurrency)? …I would say it’s inevitable. The question is not if, but when.

Ten years ago, Brock Pierce co-founded the stablecoin Tether in Hong Kong. One year after the company was established, he sold his shares and exited Tether in 2015. Therefore, when he mentioned returning to Hong Kong, it is more likely that he refers to new projects he will run in the future.

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