- Brock Pierce has recently shared insights on his potential return to Hong Kong with his new business.
- Though Pierce stated that he had conversations with Hong Kong’s authorities, he did not disclose the venture’s details.
- The Tether co-founder remains optimistic about mainland China’s potential acceptance of cryptocurrencies.
Brock Pierce, an American entrepreneur and co-founder of Tether, recently shared insights on his possible return to Hong Kong amidst the government’s efforts to establish the crypto hub. During the Solowin and Sequire Asia Investor Summit in Hong Kong on Wednesday, Pierce hinted at his new enterprise in Hong Kong, though the details of his business remained undisclosed.
According to a recent report by the South China Morning Post, Pierce has been in a “continued conversation” with the authorities to bring his new venture into the city. The entrepreneur cited,
Big things may come from this. I’m going to go where I think my time is most valuable. I’m enthusiastic about what’s happening in Hong Kong, which means I’m enthusiastic about working here, which means the likelihood of something happening is good right now.
Further, Pierce expressed his optimistic approach to the potential establishment of crypto markets in mainland China, where cryptocurrencies are currently banned. He believes that Hong Kong, with its enthusiasm for crypto expansion and efforts for a full-fledged crypto hub, would act as a gateway to the mainland. He added it’s just a matter of time, stating,
Is China going to open up [to crypto]? … I’d say it’s inevitable. The question is not so much if, it’s a matter of when.
In a recent development in the Hong Kong crypto market, the Securities and Futures Commission (SFC) announced the list of exchanges, including Crypto.com and Bullish, which are poised to receive a license in the region. However, platforms such as ByBit and OKX have withdrawn their license applications. Hong Kong’s move is part of the government’s initiative to bring regulatory clarity to Hong Kong’s crypto markets.
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