As Hong Kong is trying to straighten out Regulation could we be seeing a shift in The world of financial dominance is it Possible that Asia is seeing a light at The end of the tunnel when it comes to Dominating the world's finances because America is struggling to make up its Mind on crypto Let's find out let's get it Now I think everything changed Dramatically in the past two years I Will say Hong Kong right now I think is In a very uh embraced crypto mode so so That's why I think not only they launch Crypto ETF today and that they welcome Like every exchange to Establish their Hong Kong Branch here we Have in this clip from December of last Year Justin Sun explained that Hong Kong Is extremely pivotal to the future of Crypto and they're being very accepting And optimistic when it comes to allowing Crypto exchanges to come into their World so Hong Kong re-entering crypto is An essential ingredient for the next Bull Run or at least that's what Justin Sun and many others believe so let's see What's going on in Hong Kong right now We have blockchain-based governments Issued Bond just rolled out in Hong Kong Hong Kong issues the first Blockchain-based tokenized bond in the World have you ever wondered what will Have happen once blockchain Technologies
Go mainstream how will they be applied And what benefits will they offer well We might just be about to find out Things are Hong Kong's latest Bond Offering of course keep in mind we just Had the Siemens digital Bond launch last Week government of Hong Kong just made History after announcing the rollout of The tokenized green Bond Worth roughly 800 million Hong Kong dollars first Bond Of its kind it was reportedly rolled out Through a private blockchain Network and Of course here to weigh in on it was Justin's son Hong Kong government issues The First tokenized greenbot on Blockchain showing distributed Ledger Technologies Financial potential proud To see more institutions embracing Blockchain excited to see tron's role in The future of Finance Tron some people Like it it is pretty fast but obviously Since it launched it's underperformed Quite a bit maybe finally now because of Its speed and low transactions finding Some utility in the world of blockchain But down here it says transfer Justice Cell was among the first industry Figures to acknowledge the magnitude of The organized Bond offering he noted That the bond is a great opportunity to Demonstrate the financial potential of Decentralized Ledger technology so I'd Say that the bond offering is an example Of the ongoing adoption of blockchain by
Institutions so keep this in mind Financial and technological Evolution that's what crypto is tell you Guys this all the time when you see more Of these bonds being issued digitally You start to realize what do we even Need banks for it's a big narrative to Follow if that wasn't enough now we have 340 billion dollar broker debuting Bitcoin trading in Hong Kong as crypto Demand grows interactive brokers a Global electronic broker with a Valuation about 340 Billy has announced The launch of crypto trading in Hong Kong new product allows professional Investor clients interactive brokers Hong Kong to trade Bitcoin and ethereum Alongside with other assets remember Professional clients this is not your Retail Traders these are your accredited Investors they're not open to everyone There eligible clients must have a Million bucks in investable assets blah Blah blah more the same old same old the Traditional gatekeeping still going on In Hong Kong as it does here in the United States but it's something to Really think about Hong Kongs we're Learning to all these Innovation coming There is that in the world of Hong Kong Hong Kong is a representation of China So of course we had the Bitcoin mining Ban in China they're always trying to Ban crypto
Hong Kong is seen as more of their I Guess liberal arm if you will Hong Kong Is able to take hold of things and Operate almost as an independent Government still under the thumb of the Chinese government so what does this Mean this means that what we're seeing In Hong Kong could be precursors for What we could see in China depending on These reactions now of course we also Have this Hong Kong plans to live banned On retail crypto trading so on one side We've got for the accredited investors For the big boys we've got some ways to Train in Hong Kong now they're Considering to lift a retail ban Hong Kong's regulator proposed a relaxation Of rules paying retail investors from Buying crypto tokens from licensed Platforms on Monday remember Precursor to China the regulator also Announced all crypto trading platforms Operating in Hong Kong need to be Approved by the security and Futures Commission by June 2024 or else close Down its operations the sfc will not Hesitate to take in 4 enforcement action Sounds like somebody else I know Hong Kong last year announced new mandatory Licensing provisions and Forest Centralized crypto service providers Come in fact on June 1st they said I was Willing to strike a better balance Between investor protection and Market
Development regulator also asked Exchanges to explain which crypto Derivative products they want to offer Investors and why currently license Exchanges in the city are not allowed to Sell crypto derivatives rule the Regulator said it might change now Obviously when we're talking about Derivatives here we are talking about Websites like dribbit we're looking at Buy bit bit get all these and of course You want to sign up for bit get we have A link Down Below in the description for You if you do want to trade but they're Trying to make these more defined in What they want to accept when it comes To derivatives platforms on June 1st 2023 Hong Kong will officially make Crypto purchase and sell trading fully Illegal for all its citizens so that's June 1st expect a huge influx of big Money from the East Asian currency-based Stable coins coming out of Hong Kong Will be a certainty as well now here's Something to consider this day right Here June 1st okay June verse very Important why well around June 1st is According to the four-year Cycles when We should be seeing another big leg up In crypto Bitcoin should be making the Last of its great bull traps if in fact It plays out the way the last cycle Played out right now we're in the middle Of a bull trap we should go to about 30
28 to 30 and come back down to 20. then Maybe around the summer uh May June we Might make another run-up where we could Go as high as 45 to 50K before getting a Retracement that would be right in that Range so definitely something to watch Uh no Hong Kong will not be allowing Retail Traders access to crypto on June 1st so this is pretty interesting Because we are seeing people arguing Over what this means is this actually What it claims to be or is it just the Accredited investors on June 1st Hong Kong's warming up to crypto licensing Regime for virtual asset service Providers the local term for kurdo Exchanges kicks in on June 1st does it Mean quarter is going fully legal for Everyone in the city as a tweet suggests Now we're gonna we're gonna come back to This tweet here in a few minutes well a Situation may change later for the time Being the vasp framework for licensing Exchanges I just finished a multi-year Consultation allows and provide access Only to accredited professional Investors retail investors are included Very interesting here Hong Kong Government has indicated that Securities And Futures commissioned security Regular may consider retail access to Virtual asset service in the future After further consultation so let me Tell you how I read this
I basically read this to mean that Right now they're testing the waters Kind of like we're saying Hong Kong's Testing the waters for China they're Trying to see what the sentiment is for Retail Traders do retail traders in Hong Kong want demand to be able to invest in Cryptos are they kind of mad because if They're mad then there's no reason for Them to make this legal but you can see At the beginning of the video we said They're trying to sort out legislation Because we don't exactly know where they Stand on this is it only accredited or Is it also going to be for retail we're Getting mixed signals and remember Earlier they were talking about stable Coins well how about this of course China begins Hong Kong cross-border Digital Yuan pilot of course digital Yuan was launched uh back I believe in 2021 uh in China under a test program a Pilot program and now for the first time We're using cross-border digital you Want because in Hong Kong they don't use The Yuan they use the Hong Kong dollar The HK so very interesting to see what Shakes down here with this China's Matic Conflict of 67 it's up 500 for the week We looked at it on the live stream this Morning I didn't even know what it was But here we go China's supposed dramatic competitor Conflux is one of the top performing all
Coins today is up almost 70 percent up 500 earlier we looked at it on the live Stream but the point is are we starting To see things in China things in the Far East start moving in crypto well a lot Of people believe that this is something We will see uh justice on two Obi seeks Hong Kong crypto license amid regulatory Shift can't keep up with which which Exchange Justin Sun owns he did own Poloniex I think he sold it and then he Bought I don't know what he's doing but The point here is if you really look at What he's saying about huobi he always Announced is playing recruiter training License in Hong Kong Justin's son is reiterating he believes Hong Kong is the kickoff for the next Bull Run and so you really look at the Timing of all this how a lot of this Stuff will be applying later this year That lines up we've got the hammy of Course coming next year in 2024 early in The year the first half of the year Maybe even quarter one some people Believe that this will really be the Thing that gets this uh going now if you Are going to make a ton of money in Crypto make sure you're using coin Ledger coin Ledger obviously a big Sponsor and supporter of the channel Crypto tax is done in a minute you have Uh minutes not minute minutes uh yeah Freeportfolio tracking official Turbo
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The question is can we have both can we Have big money back in Asia but also America remain financially dominant Answer that question I believe is yes I Believe we can have both if you think The United States is going to sleep on Crypto and crypto regulation is just Going to allow this entire blockchain Movement to pass them by you're wrong We just have to have the right people in Place Gary ginsler represents Goldman Sachs he represents the banks he's not The person we need in leadership and we Call upon Congress to remove him as Quickly as possible and I believe that Congress as opposed to Garrett ginsler Will actually do their job and will Remove him from office because he is the One holding us back from maintaining Financial dominance when it comes to Blockchain and crypto I think we're Gonna get straightened out because I Believe in America and I believe that we Will do what's right in order to keep Ourselves ahead of everybody else However there is a lot going on with Asia with Hong Kong right now watch China what comes out of all of this Hong Kong regulation all this Hong Kong Excitement the way that it flows into China will be The Telltale sign of What's going to happen in this next Bull Run go and drop comments below let us Know what you think do you think the
Board Runners starting in Hong Kong do You think it'll start on mars or do you Think it will start at all let us know In the comments that's all I got be Blessed good boy out Thank you
