• Brock Pierce lately shared his ideas on probably returning to Hong Kong with a brand new enterprise enterprise.
• Pierce stated he had held discussions with Hong Kong authorities however didn’t disclose particulars of the enterprise.
• Tether's co-founder stays optimistic about mainland China's embrace of cryptocurrencies.

American entrepreneur and Tether co-founder Brock Pierce lately weighed in on a doable return to Hong Kong amid the town's efforts to create a crypto hub. Talking on the SoloWin & Seeker Asia Investor Summit in Hong Kong on Wednesday, Pierce hinted at a brand new enterprise within the metropolis, however didn’t disclose particulars of the enterprise.

A current report from the South China Morning Submit stated Pierce was in “ongoing discussions” with authorities to convey new enterprise to the town.

Massive issues may come out of this. I'm going to go the place I could make the very best use of my time. I'm obsessed with what's happening in Hong Kong. I imply, I'm obsessed with working right here. So, the probabilities of one thing occurring proper now are excessive.

Moreover, Pierce expressed optimism about the potential of establishing a crypto market in mainland China, the place cryptocurrencies are presently banned. He believes Hong Kong, which is eager to increase crypto and goals to grow to be a fully-fledged crypto hub, could possibly be the gateway to mainland China. He added that it’s only a matter of time, stating:

Will China open up (to cryptocurrency)? … I feel it's inevitable. The query isn’t if, however when.

In a current improvement in Hong Kong's cryptocurrency market, the Securities and Futures Fee (SFC) introduced a listing of exchanges able to receive licenses in Hong Kong, together with Crypto.com and Bullish. Nonetheless, platforms similar to ByBit and OKX have withdrawn their license functions. Hong Kong's transfer is a part of the federal government's efforts to convey regulatory readability to the town's cryptocurrency market.