31 May

Acting Financial Secretary Wong Wai-lun of Hong Kong reiterated the city's commitment to establishing itself as a hub for cryptocurrency activities, aligning with its longstanding vision in this regard. Wai-lun emphasized Hong Kong's focus on financial innovation and support for various sectors, including financial technology, green finance, decentralized finance (DeFi), Web3, and cryptocurrencies.

Speaking at the 2024 Caixin Summer Summit, Wai-lun underscored Hong Kong's strategic advantage as being "backed by the motherland and connected to the world." 

He emphasized the city's unique position as conducive to developing a comprehensive crypto ecosystem.

Wai-lun assured continued government initiatives across various domains to bolster the region's financial and technological advancement. Additionally, he mentioned the Special Administrative Region (SAR) of China's efforts to mitigate financial risks and maintain manageable levels of threats.

Earlier, on April 19, 2024, the Securities and Futures Commission (SFC) of Hong Kong endorsed five capital market cooperation measures proposed by the China Securities Regulatory Commission (CSRC). These measures aim to bolster Hong Kong's status as an international financial center. 

Julia Leung, CEO of SFC, expressed satisfaction with the collaboration, anticipating that initiatives like the expansion of Stock Connect and mutual fund recognition enhancements would enhance product offerings for both Mainland and international investors, enabling Hong Kong to leverage its unique position in facilitating the opening-up of China's capital market.

Hong Kong has also taken measures to ensure financial security and regulatory compliance, including suspending Worldcoin's services in the region due to violations of the city's Privacy Ordinance.

May 2024, Cryptoniteuae

* The email will not be published on the website.