- Justin Sun is satisfied with the Web3 and Virtual Assets (VA) discussions in Hong Kong.
- Sun proclaimed the TRON network was ready to participate in the ongoing process.
- FSTB recognized the sustainability of VAs and how it has attracted global investors to Hong Kong.
TRON founder, Justin Sun, has expressed satisfaction with the ongoing Web3 and Virtual Assets (VA) discussions in Hong Kong. In a tweet, Sun noted Hong Kong’s dynamic financial ecosystem and progressive regulation show promise for blockchain. He proclaimed the TRON network was ready to participate, echoing Hong Kong’s commitment to embrace industry feedback and foster global connections.
Sun’s comments are in response to the recently released policy statement on the development of VAs. The Financial Services and the Treasury Bureau (FSTB) of Hong Kong released the statement, acknowledging the achievements of companies in the distributed technologies sector. It recognized the sustainability of VAs and how it has attracted global investors to the nation.
The statement indicated that the establishment is open to suggestions and committed to extending its openness. It also emphasized the government’s effort to promote the development of VAs and associated emerging technologies. It read:
“The government, in conjunction with financial regulators, is working toward providing a facilitating environment for promoting sustainable and responsible development of the VA sector in Hong Kong.”
TRON’s community members are optimistic about the partnership proclamation by Sun, with some respondents predicting an imminent rally for TRON’s native token, TRX.
A decline in TRX’s price was rejected at $0.0645 seven days ago when the price bounced off significant support. At $0.0701, the crypto token’s price is struggling to stay above higher support, despite the dwindling altcoins market of the past few days.
If the support at $0.691 holds, we may see TRX rally toward the next resistance at $0.0742, a break out, which could lead to a retest of the yearly high at $0.0858.
TRX started the year at $0.0544 before reaching the yearly high of $0.0858. The current price of $0.0701 reflects a 28.53% profit, with users expecting more from the network’s intended collaboration with Hong Kong.
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