China and Hong Kong have been struggling over power for decades.
After the UK relinquished control of Hong Kong in 1997, China claimed it with stipulations the small country would still be allowed a certain level of self-governance for at least 50 years.
But as you may have heard, China's encroaching on Hong Kong and threatening its level of independence.
This makes the stark contrast between their crypto approach all the more interesting.
Here are the details.
Hong Kong embraces crypto as a tool to wiggle out of the CCP's grasp.
And China's been heavily censoring the public's access to crypto for years. In 2021 the government banned crypto entirely.
Tensions between the two are on the rise.
An increased crypto presence is one way Hong Kong citizens can defy the CCP. And it provides a certain level of global liquidity in case China tries to coerce the country by strangling its economy.
We saw Ukrainian citizens similarly utilize cryptocurrency to pay for relocation, supplies, and military equipment when Russia started its invasion last year.
Read more here.
It will be interesting to see how China reacts as Hong Kong continues to strengthen its position in the crypto community.
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