The reason why Hong Kong is quite pro-crypto is because HK is a grifter city. The city does not generate much innovation. Regulators in HK also constantly get t

The reason why Hong Kong is quite pro-crypto is because HK is a grifter city. The city does not generate much innovation. Regulators in HK also constantly get tricked by blockchain hype. Regulators think that if they invest in blockchain, then they could maybe become the Silicon Valley of blockchain. But they can't because blockchain is not useful except a tiny niche and the city does not have a culture of invention. Meanwhile, a few miles away in Shenzen, people there actually innovate and produce stuff.