Professor Wang Yang, vice chairman for institutional development and chair professor on the Division of Arithmetic on the Hong Kong College of Science and Expertise (HKUST), criticized China’s cryptocurrency mining ban throughout a panel dialogue in Hong Kong final week. He known as the choice “very unwise” as a result of it shifted companies to the U.S., boosting American tax income. He recommended that China may have mitigated dangers by directing state-owned enterprises to put money into home crypto mining companies. Regardless of China’s crackdown, Hong Kong is striving to turn into a digital asset hub, licensing crypto exchanges and launching crypto exchange-traded funds (ETFs). Wang proposed tokenization as a method for China to deal with geopolitical dangers, anticipating a market breakthrough inside three years as attitudes towards digital property evolve.