Hong Kong lawmaker calls for crypto acceleration after U.S. crypto czar press conference

The legislator of Hong Kong, Johnny NG, urges regulators to accelerate pro-Crypto initiatives in the region after the crypto-tsar David Sacks press conference.

In a recent jobNG highlights the importance of the press conference led by us IA And the crypto-tsar David frees itself on February 5 and what it means for other countries. He believes that the development of cryptographic industry has become one of the “greatest parameters” of success in the global political arena under the Asset administration.

“Consequently, cryptocurrency has become a battlefield for the development of the global digital economy and innovation and technology. At the same time, this can help stimulate the slow global economy, ”NG wrote in a translated article.

In response to the Czar Crypto speech, NG said Hong Kong has already taken government initiatives to transform into a global crypto center which reflects those of the WE.

However, he thinks that these efforts are not yet enough to accelerate the growth of the cryptographic industry of Hong Kong so that it does not court the risk of late in the global race of cryptography.

“I think that although Hong Kong is very positive and hardworking, the world is growing quickly and we have to speed up our pace to stay ahead. There are a few things that we have to move forward this year, otherwise Hong Kong will again be delayed, “said NG.

Steps inspired by the discourse of Tsar Crypto

Echoing David Sacks’ speech, Johnny NG recommends government initiatives that highlight growth for stable and a national bitcoin (BTC) reserve. Its recommendations include the acceleration of research for a feasibility study on Bitcoin’s strategic reserves in Hong Kong, the types of relaxing transactions for approved platforms, allowing companies to issue stabaces and open a department of Digital assets dedicated to the development of AI and crypto.

In addition, he also suggests requesting support from China in making pilot requests for stablescoins in the country.

On February 4, the AI ​​of President Trump and Tsar Crypto David Sacks held a press conference To describe Trump’s vision that would make the cryptographic landscape progress in the United States

Bags specifically highlighted Stablecoins as a tool to stimulate the domination of the US dollar. In addition, he also declared that the conduct of a “feasibility of a strategic reserve of the BTC” has become the absolute priority for the cryptographic advice.