By South China Morning Post | Created at 2024-11-06 13:42:26 | Updated at 2024-11-06 15:27:38
2 hours ago
“Trump’s pro-crypto stance is expected not only to invigorate the US virtual-asset industry, but also to encourage Hong Kong to further relax its own virtual-asset policies in its quest to become a global Web3 hub,” said Livio Weng, chief executive of Hong Kong-based cryptocurrency trading platform HashKey Exchange.
“This shift could also positively influence regulatory attitudes toward virtual assets in mainland China,” he added.
That reflects the enthusiasm of many Mandarin-speaking crypto-focused users on Elon Musk’s X, as they posted their congratulations to Trump on the social-media platform formerly known as Twitter, while also extolling a new all-time high reached by bitcoin on Wednesday, with some expressing good days ahead for the industry.
At one point on Wednesday, bitcoin prices reached above US$75,000, having gained more than 66 per cent since the start of this year.
