TRON and Huobi CEO says Hong Kong ready to become a leading crypto hub
The entrepreneur noted the active support for Web 3.0 innovation by the authorities of the Special Administrative Region of the People’s Republic of China
21.03.2023 - 10:15
918
3 min
0
What’s new? TRON blockchain founder and Huobi crypto exchange CEO Justin Sun has noted the Hong Kong authorities’ active support of innovations in the field of digital assets and Web 3.0. He stated that the city is well-positioned to become a leading crypto hub in Asia. This is how the businessman commented on the speech of the Secretary for Financial Services and the Treasury Bureau, Christian Hui, on March 20, who, among other things, talked about the allocation of $50 million to develop the Web 3.0 ecosystem.
I’m thrilled to see #HongKong’s commitment to supporting its development. With a comprehensive support system for VA and Web3 startups, HK is well-positioned to be a leading hub in Asia.🔥Looking forward to seeing more innovation and entrepreneurship!👇https://t.co/WkR0ftyQuT — H.E. Justin Sun 孙宇晨 (@justinsuntron) March 21, 2023
Bloomberg: China unofficially supports Hong Kong’s desire to become a crypto hub
Sources say officials are interested in using the city as a “testing ground” for digital assets
Hong Kong and cryptocurrencies. In mainland China, crypto transactions have been completely banned since September 2021. Hong Kong, as a special administrative region of the country, intends to pass its own laws to regulate digital assets. Thus, local authorities have equated cryptocurrency firms with traditional financial institutions, started to form a list of cryptocurrencies allowed for retail trade, and said they intend to develop the city as a regional crypto hub.
Earlier, Justin Sun predicted the legalization of cryptocurrencies in the PRC. In his opinion, this is evidenced by the introduction of taxation for investors and miners.
Useful material?
Telegram 
Twitter Incidents
Developers warned of potential risks to bridges across the ecosystem and asked exchanges for assistance.
Jun 22, 2026
Incidents
The defendant helped move funds stolen through investment scams and earned at least $4 million for his role in the operation.
Jun 10, 2026
Incidents
The company is linking the incident to a compromised private key on a service wallet, rather than a smart contract exploit
May 22, 2026
Incidents
Following the incident, the project temporarily halted trading operations and node activity.
May 15, 2026
Incidents
The user spent weeks unsuccessfully trying to guess the password until Claude helped find an old wallet backup file
May 14, 2026
Crypto regulations
Authorities are introducing mandatory registration for companies handling cross-border crypto transactions
May 8, 2026
Cryptocurrency rates
-
Bitcoin
$62 664
BTC
-2.08%
-
Ethereum
$2 551.16
ETH
+3.56%
-
BNB Smart Chain
$579.4
BSC
+1.23%
-
Ripple
$1.1
XRP
-2.07%
-
TRON
$0.160134
TRX
-1.59%
-
Dogecoin
$0.079012
DOGE
-3.77%
-
Zcash
$411.8
ZEC
-7.89%
-
Stellar XLM
$0.191762
XLM
-3.15%
-
Cardano
$0.152012
ADA
-4.79%
-
Polkadot
$3.32
DOT
+5.27%