Vitalik Buter’s comments about Hong Kong didn’t go unnoticed by local legislators.
Johnny Ng, a Hong Kong Legislative Council member, has publicly responded to Vitalik Buterin’s recent remarks questioning the stability of Hong Kong’s crypto-friendly policies.
The public response came after Vitalik Buterin spoke at the Web3 Transition Summit in Singapore on September 14th.
Did you know?
Want to get smarter & wealthier with crypto?
Subscribe – We publish new crypto explainer videos every week!
During the event, Buterin said he found the relationship between Hong Kong and mainland China “complicated” and questioned the stability of Hong Kong’s crypto-friendly environment.
If any crypto project wants to make Hong Kong their home, they would want to have some confidence, not just that it’s friendly now, but that it will continue to be friendly.
In a social media post on September 15th, Johnny Ng responded directly to Buterin’s concerns by inviting him to visit Hong Kong.
Ng promised to “coordinate with relevant institutions and enterprises” to give Buterin a comprehensive overview of the crypto landscape in Hong Kong. He emphasized that the city’s crypto policies are rooted in stability.
All relevant strategies and regulations have gone through major social consensus and complete procedures. Therefore, I can tell Mr. Vitalik that Hong Kong’s policies are very stable.
Ng further explained that any policy or legislation in Hong Kong undergoes a thorough discussion process involving “government policy writing, public consultation, discussions in multiple committees of the Legislative Council and the General Assembly.”
Buterin’s concerns come at a time when Hong Kong has been recognized as the most “crypto-ready” location for two years running, boasting a score of 8.36, in comparison to the United States, which scored 7.25.
The reputation was recently fortified when HashKey became the first crypto exchange to secure a license for retail crypto services in Hong Kong. Additionally, cryptocurrency exchange OKX is in the final stages of securing regulatory approval.
Johnny Ng’s invitation to Vitalik Buterin serves as an open dialogue offer aimed at demystifying Hong Kong’s crypto-friendly yet stable environment. As Hong Kong continues to lead in crypto-readiness, this incident underlines the importance of clarity and communication in the global crypto community.