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Cryptocurrency investor and Tether co-founder Brock Pierce has hinted at a potential return to Hong Kong, a decade after launching his stablecoin there. 
This comes at a time when the Hong Kong government is taking steps to attract the crypto industry back to its territory. 
Pierce, who also serves as president of the Bitcoin Foundation, refrained from providing information about the details of his new initiative or whether Hong Kong would be its permanent headquarters. He expressed his excitement for the city and noted that this is part of an ongoing conversation. 
“Big things can come from this,” Pierce told the South China Morning Post at the Solowin and Sequire Asia Investor Summit in Hong Kong. 
<blockquote> 
 “I'll go where I think my time is most valuable. I'm enthusiastic about what's going on in Hong Kong, which means I'm enthusiastic about working here, which means there's a good chance something will happen right now.” 
</blockquote> 
This comment follows recent developments in which several major cryptocurrency exchanges, most of which are affiliated with mainland China, have withdrawn their applications to become licensed virtual asset trading platforms in Hong Kong. This was due to new regulations introduced last year by the Securities and Futures Commission, which stated that Hong Kong-licensed exchanges should not provide services to mainland residents. 
Although commercial crypto activities are strictly prohibited in mainland China, the prospect of Hong Kong serving as a gateway to this massive market has appealed to many in the industry. The idea was a hot topic at this year's Bitcoin Asia conference, although mainland regulators have shown no signs of reversing their stance. But Pierce is confident that change is on the horizon: 
<blockquote> 
 “Will China open up to crypto? I would say this is inevitable. “The question is not if it will happen, but when.” 
</blockquote> 
Related News: <a href="https://en.bitcoinsistemi.com/these-altcoins-have-been-bought-and-sold-the-most-in-the-last-24-hours-on-upbit-koreas-largest-crypto-exchange/" target="_blank" rel="dofollow">These Altcoins Have Been Bought and Sold the Most in the Last 24 Hours on Upbit, Korea's Largest Crypto Exchange</a> 
Pierce is hopeful about Hong Kong's recent efforts to provide regulatory certainty to investors. He thinks the city is moving in the right direction and is well positioned in the region compared to Singapore, Japan and South Korea, which have all introduced their own crypto-specific policies. 
“I think Hong Kong is ahead in many ways,” he said. “I think its main opportunity in Hong Kong is in traditional finance, and that's where the Hong Kong digital dollar stablecoin has tremendous potential.” 
Pierce attributes this situation to China's supply chain advantage. “Clearly there is a huge opportunity here if you get the right system in place,” he said. 
*This is not investment advice. 
 Continue Reading: <a href="https://en.bitcoinsistemi.com/tether-co-founder-reveals-whether-china-will-return-to-cryptocurrencies/">Tether Co-Founder Reveals “Whether China Will Return to Cryptocurrencies”</a>

Tether Co-Founder Reveals “Whether China Will Return to Cryptocurrencies”

Bitcoin Sistemi EN

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