Hong Kong decision makers were called to weapons.
On February 5, 2025, Johnny Ng Kate Chung, the legislator stationed in Hong Kong urged regional authorities to expedite the creation of an encrypted framework.
Kit-Chong, the famous captain, Kit-Chong, wants the region to compete in the encryption square and international players. He wants to see Hong Kong appears as a world center for encryption and digital assets.
During conversations with Crypto Czar David Sacks, Kit-Cong shared his ideas about the pace of encryption developments in the region.
According to him, the rate of regional growth and development in the encryption space was insufficient compared to international standards. Especially since the rate of activity in the encryption space was chosen after Donald Trump’s victory.
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Sandbox Stablecoin companies must receive early permits
Kit-Cong suggests a strategic investment in Bitcoins to hedge from Hong Kong in the global financial system. This comes as we also convey to the integration of Bitcoins in its strategic reserves.
According to Kit-Cong, Bitcoin may play a dangerous role in the future of the region. The cryptocurrency will be widely studied to understand its future role in Hong Kong Financial Security.
Hong Kong authorities also encouraged the creation of a regulatory framework for Stablecoins. Hong Kong is currently creating legislation for Stablecoins but according to Johnny, the process should be accelerated.
He recommended the stablecoin companies that were composed in Sandbox Organizing to be able to launch their products immediately. This can be possible with urgent permissions of power.
According to NG, the Grand Gulf Strategic sites (GBA) is part of the Belt and Roads Initiative in China (BRI) makes a great test bed for Stablecoin applications.
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Hong Kong dedicated digital asset office to keep pace with international encryption developments
NG imagines an enhanced regulatory framework to enhance the support of virtual asset platforms. It calls for approved platforms to expand their transaction capabilities in order to push the sector’s growth. He also suggested establishing a digital asset office dedicated to supervising and obtaining a bird vision for regional and international progress in AI and other encryption assets.
Kate Chung has admitted Hong Kong’s trip in the encryption space so far. He has highlighted major initiatives such as creating a third generation internet development squad. He emphasized that Hong Kong needs to maintain a quick pace to keep pace with global encoding developments. NG stated that it is important for the region to maintain growth levels to implement the strategic measures of Hong Kong’s status as a global midfielder in the encryption market.
He unveiled his plans to participate in the Bitcoin US Summit in May to strengthen Hong Kong’s relationship and the United States in the encryption sector.
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