• Fri. Sep 29th, 2023



Arthur Hayes allowed China to return to crypto industry through Hong Kong


Sep 26, 2022

Arthur Hayes allowed China to return to crypto industry through Hong Kong

Former CEO Bitcoin-Birzhi Bitmex Arthur Hayes spoke about the possibility of China’s return to the digital asset industry using Hong Kong.

“COMEBACK” is an essay ABOUT HOW #HONGKONG Retakes Its Position as the #crypto Capital Markets Hub of the World. And I Add Another Pillar to the Upcoming $ BTC Boolll Market.https: // t.Co/1zqazqfebp pic.Twitter.COM/RM5FJODOYZ

– Arthur Hayes (@cryptohayes) October 25, 2022

He believes that media reports on the plans of the Securities Commission and Futures of Hong Kong (SFC) to mitigate the requirements for the cryptocurrency trading are confirmed by China’s attempts to return to the digital assets market.

According to the head of the SFC financial https://gagarin.news/news/no-more-advertising-of-digital-assets-the-un-suggested-that-developing-countries-should-forget-about-cryptocurrency/ technology department Elizabeth Wong, if the bill is adopted, retail investors will be able to “directly invest in virtual assets”.

Hayes called Hong Kong a “confidant” through which China interacts with the rest of the world. In his opinion, the reorientation of the administrative district of the PRC is part of the Beijing strategy to weaken its position against cryptocurrencies.

“When China will fall in love with cryptocurrency, the bull market will return. It will be a slow process, but the sprouts are already blooming. […] If these flows really materialize as I imagine, they will become a strong support of the next bull market, ”Hayes wrote.

At the same time, the PRC successfully introduces digital yuan. According to the People’s Bank of China, at the end of the summer of 2022, the accumulated volume of transactions with E-CNY reached 100.04 billion yuan (~ $ 14 billion).

Recall that in October, researchers from the Chinese State Institute nominated the idea of ​​a general Asian digital currency to reduce the dependence of the region’s economies on the US dollar.

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