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Why Hong Kong? |
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Why Hong Kong is great for cryptocurrency |
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Bitcoin and cryptocurrencies aim to drastically alter how capital and trade flows on a global scale. Hong Kong’s position as the premier Asian financial hub makes it the perfect place for Bitcoin to take hold and flourish. From its founding, Hong Kong has been a free duty port allowing capital and goods to flow seamlessly in large quantities . English common law serves as the backbone for the legal system and ensures the enforceability of contracts.
One of Hong Kong’s greatest strengths is its function as the gateway for capital into China. Successful adoption of Bitcoin by China will accelerate the transition of China’s economy from developing to developed. Most importantly the government is aware that Hong Kong is special in part because they don’t over regulate the economy. The regulators recognize that Hong Kong is in constant battle with other trading entrepots globally and they must embrace technology and change if the territory is to remain globally relevant.
Bitcoin entrepreneurs who choose Hong Kong as their base of operations will reap all of these benefits. The Bitcoin Association of Hong Kong believes that Hong Kong has all the right components to make it the global center of Bitcoin and cryptocurrencies.