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π¨ MUST READ: ππ° Shocking Revelation about Hong Kong's #Crypto Move π³
π¨π³ βBig Ass Noβ: Not a Sign China Is Warming Up to Crypto π±
A thread π§΅
π¨π³ βBig Ass Noβ: Not a Sign China Is Warming Up to Crypto π±
A thread π§΅
1οΈβ£ Hong Kong, once a #crypto hub, is making a comeback.
π But before you get too excited, let's dive into the juicy details.
π But before you get too excited, let's dive into the juicy details.
2οΈβ£ Hong Kong just gave the green light for retail investors to trade digital assets π
π It seems like they're trying to reclaim their #crypto crown and become the next big crypto hub.
π Does this mean China is finally opening its doors to Web3 and #Bitcoin?
π It seems like they're trying to reclaim their #crypto crown and become the next big crypto hub.
π Does this mean China is finally opening its doors to Web3 and #Bitcoin?
3οΈβ£ Experts say, "Big Ass No!" π±
π Sean Lee, Co-Founder of Odsy Network and senior advisor at the Crypto Council for Innovation debunks the notion that China is embracing #crypto.
π Sean Lee, Co-Founder of Odsy Network and senior advisor at the Crypto Council for Innovation debunks the notion that China is embracing #crypto.
4οΈβ£ According to Lee, China's notorious crackdown on #crypto is far from over.
π He slams the idea that Beijing's recent Web3 white-paper signals a friendly stance towards crypto.
π He slams the idea that Beijing's recent Web3 white-paper signals a friendly stance towards crypto.
5οΈβ£ So why the fuss in Hong Kong?
π Hong Kong was once a #crypto hotbed, home to big exchanges like #Binance, Bitfinex, and FTX.
π But China's strict COVID-19 lockdowns and regulatory crackdowns threw a wrench in the works.
π Hong Kong was once a #crypto hotbed, home to big exchanges like #Binance, Bitfinex, and FTX.
π But China's strict COVID-19 lockdowns and regulatory crackdowns threw a wrench in the works.
6οΈβ£ Now, Hong Kong is back in the game, but with a twist.
π Retail investors can trade #crypto under strict new rules.
π They must comply and register with the Securities and Futures Commission (SFC).
π Retail investors can trade #crypto under strict new rules.
π They must comply and register with the Securities and Futures Commission (SFC).
7οΈβ£ Remember, China still has some of the toughest #crypto rules in the world.
π They banned digital asset trading and mining back in 2021.
π They banned digital asset trading and mining back in 2021.
8οΈβ£ Sean Lee sees Hong Kong as a testing ground for China's #crypto policies.
π While it's not the giant leap forward we hoped for, it's a step in the right direction.
π While it's not the giant leap forward we hoped for, it's a step in the right direction.
9οΈβ£ Lee believes that Hong Kong's move benefits the city and the entire continent.
π It's a magnet for #crypto investment, paving the way for institutions to get involved.
π And when the big players enter the scene, that's when the game truly changes!
π It's a magnet for #crypto investment, paving the way for institutions to get involved.
π And when the big players enter the scene, that's when the game truly changes!
π Hong Kong's #crypto renaissance might not mean China is embracing Web3 and #Bitcoin, but it's a tantalizing step in the right direction.
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https://twitter.com/cryptokingkeyur/status/1667383697199480832
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