Animoca Brands co-founder Yat Siu sees Hong Kong becoming a Web3 hub, while regulatory uncertainty continues to harm the sector in the U.S.
“The SEC doesn't seem to be wanting to be consistent about this, in contrast to Hong Kong, or other jurisdictions like Japan, the Middle East or even Europe which have rules that are starting to become consistent.”
Hong Kong also held the cryptocurrency space at arms length for a number of years, with restrictive policiesonly recently overturned after lengthy consultation with industry proponents. The working group is yet to have a first meeting and Siu expects monthly or quarterly meetings with a variety of crypto, blockchain and Web3 working groups that have been established in Hong Kong.
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