Chinese authorities tacitly support Hong Kong’s initiative to create a blockchain industry development center in the metropolitan area.
As Bloomberg specifies, citing its sources, cryptocompanies, which were forced to leave China, will now register in Hong Kong. As a reminder, China has a ban on all types of digital currency transactions.
In addition, the People’s Bank obliged all financial institutions to freeze contacts with exchanges and services representing the crypto sector. Companies that previously operated in mainland China will now be able to register their business in Hong Kong.