How Hong Kong could become a magnet for virtual asset firms

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Hong Kong may dominate the virtual asset industry with government assistance.

The Hong Kong government’s virtual asset policy statement outlines its vision for a dynamic ecosystem. At the POW’ER Hong Kong Web3 Innovator Summit, Financial Secretary Paul Chan Mo-po said that the city is confident of developing a vibrant virtual asset ecosystem.

Hong Kong’s financial innovation and legal and regulatory frameworks make it a good place for virtual asset businesses. It is clear from the financial secretary’s speech that Hong Kong is committed to supporting virtual asset start-ups. He also said that the government welcomes virtual asset talent coming to the city.

This will boost innovation in Hong Kong and create a digital currency ecosystem. Due to its advantageous location, Hong Kong may profit from expanding Asian demand.

“One country, two systems” is a vital part of Hong Kong’s success as a financial hub. The city’s strategic location, favourable business environment, large talent pool and access to a big consumer base make it an ideal place for cryptocurrency companies to set up shop.

To help the city seize this opportunity, the government should first provide digital currency companies with clear guidelines. This will give businesses confidence. Second, the government should help cryptocurrency companies build infrastructure that supports digital currency exchanges, digital wallets and other vital services. Third, the government should offer creative entrepreneurs tax credits and incentives.

Nathan Chau, Quarry Bay

A little time management goes a long way

I refer to the letter, “A simple remedy for Hong Kong’s tunnel woes” (January 18). Your correspondent may wish to consider my ostrichlike approach of burying my head in the sand of sleep. Going to work by bus from Fanling to Central, through many congested tunnels, I have taken every chance to catch up on sleep all the way through, and still arrived at my destination in time. (Clearly, I always allow enough time for bus journeys.)

Of course, sleep is not an option for a prudent driver, but neither is rage. Instead, drivers can choose to mindfully change their focus by enjoying their favourite music in the cosy confines of their private car and forgetting their hectic life for a while.

Furthermore, they could be punctual and keep good time management habits, making every day an uneventful day.

Edmond Pang, Fanling