Vitalik Buterin: Hong Kong is currently crypto-friendly, but how long can it stay stable?

According to The Block's report, Ethereum founder Vitalik Buterin stated at the Web3 transition summit in Singapore that Hong Kong has shifted to a crypto-friendly stance since the end of last year. However, if cryptocurrency projects wish to establish offices there, they should consider the stability of this friendliness.

Is Hong Kong's Crypto-Friendly Stance Sustainable?

Unlike the widespread crackdown on cryptocurrency trading and mining in mainland China, Hong Kong has shown goodwill towards cryptocurrency companies this year, even encouraging banks to provide services to crypto businesses. In October 2022, Hong Kong authorities released a series of policy statements regarding cryptocurrencies to solidify its position as a global financial center. In December, Hong Kong passed an amendment introducing a comprehensive licensing regime for Virtual Asset Service Providers (VASPs), which came into effect in June.

Vitalik expressed that he is not very familiar with Hong Kong and even less so with the recent complex interactions between Hong Kong and the mainland.

However, a question that I want to ask, and I think everyone wants to ask, is: How stable is this friendliness?

When asked if the Hong Kong government will continue to support cryptocurrencies, Vitalik stated that he finds it "personally hard to judge this question."

If Hong Kong can convince people that the friendly relationship is stable, then it is in a favorable position. But that's where I think the challenge lies.

Vitalik Buterin Impressed by Asian Developers

Vitalik, who has been in Asia for the past few weeks, has been impressed by the level of engagement of the local developer community, especially in terms of research progress. He mentioned visiting India, Japan, Taiwan, Palau, and Singapore in recent years.

The number of activities I have seen in these places has left a deep impression, especially the large number of people in Japan and Taiwan working on ZK and privacy solutions right now, which is really impressive!