Hong Kong Legislator Johnny Ng highlights the urgency to advance the territory’s strategy on Bitcoin and cryptocurrency. During recent developments in the US where AI and cryptocurrency leader David Sacks and key Republican representatives formed a working group for cryptocurrency regulation Ng identified the need for Hong Kong to match this pace. His focus remains steadfast on establishing Hong Kong as a leader in the global digital economy by leveraging Bitcoin and stablecoins to enhance the region’s economic dynamics.

As the US signals strong support for cryptocurrencies through proposed stablecoin legislation Hong Kong mirrors this initiative with similar measures already in place. Ng’s vision encompasses the creation of a strategic Bitcoin reserve and an increase in licensed virtual asset trading capabilities. He urges immediate action to maintain Hong Kong’s competitive edge in the fast-evolving sector.

With an invitation to the Bitcoin US Summit in May Ng plans to use the platform to foster East-West collaboration in the cryptocurrency realm. His aim is to synchronize Hong Kong’s efforts with global trends thereby promoting international trade and innovation within the digital economy.

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