China is coming back into the market, and in the process, Hong Kong will play a massive role in bringing it back. Hong Kong might become the active hub of the crypto market in the future.
Hong Kong Could Be A Saviour To China
The former CEO of Crypto Arthur Hayes shared a blog post recently titled Comeback. And the post mostly says about china coming back into the market with the help of Hong Kong, as hong kong’s government announced introducing a bill to regulate crypto. China is making its way smoothly into the market. Hong Kong is acting as a proxy wall to protect, as china loves crypto so the bull market will come back, and at a slow pace, as there is a clear sign because red shoots are budding. The bull run will happen once China accepts the crypto market again. And the city is the only portal to make it happen.
There is a high chance of the city being the active hub of crypto in the near future for china to bring changes in the market of the crypto world. Forex Study shows the city stands out among other countries as the best-prepared country published in July. As it is well-prepared to produce crypto ATM installations, Pro-crypto regulations, and start-up culture.
China is known as the fastest economic country in the world, but when it comes to crypto they are not fond of it. Back in 2013, they banned banks from handling bitcoin. In Arthur Hayes’s words, China has not totally blocked crypto but they are moving late. However, recent studies show how far china has come up after the ban, quite astonishing.