Hong Kong Lawmaker to Explore Digital Asset Link With Mainland China

Johnny Ng floated the possibility of licensed Hong Kong exchanges being connected with Shanghai's exchanges.

AccessTimeIconAug 4, 2023 at 9:45 a.m. UTC
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Hong Kong lawmaker Johnny Ng said he hopes there will be discussions exploring the possibility of connecting virtual asset platforms in Hong Kong with digital asset exchanges in Shanghai.

In an interview with The Paper, a Chinese media outlet, Ng noted that many Chinese provinces and cities have policies on the development of the metaverse. Ng also said he hopes for more talent exchanges between Hong Kong and mainland China.

The two already have a financial asset link in the form of the Shanghai-Hong Kong Stock Connect program, which allows qualified investors in mainland China to access eligible shares listed on the Hong Kong Stock Exchange and vice versa.

Hong Kong has made it clear that it wants to reclaim its title as a crypto hub, rolling out a new licensing regime that gives crypto exchanges a pathway to operate in a regulated manner. OSL and HashKey have obtained licenses under the new regime. China, for its part, has instituted a number of bans on crypto-related activity, though traders based in China continue to be active.

Edited by Sheldon Reback.


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Lavender Au

Lavender Au is a CoinDesk reporter with a focus on regulation in Asia. She holds BTC, ETH, NEAR, KSM and SAITO.

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