Hong Kong MLA Johnny NG urged the regulators to speed up the Pro-Cripto initiative in the region after the press conference of US Crypto Caesar David Sachs.
recently PostNG US AI and Crypto Caesar emphasizes the importance of press conference on February 5 by David Sachs and what it reflects for other countries. He believes that the development of the crypto industry has become one of the “biggest parameters” of success in the global political field under Trump administration.
“Therefore, Cryptocurrency has become a battleground for global digital economy and innovation and development of technology. At the same time, it can help stimulate the dull global economy, ”NG wrote in a translated post.
In response to Crypto Caesar’s speech, NG said that Hong Kong has already taken the initiative of the government to develop itself in a global crypto hub that reflects those in the US.
However, he believes that these efforts are still not enough to really speed up the development of Hong Kong’s crypto industry so that it does not risk falling back into the global crypto race.
“I think though Hong Kong is very positive and hardworking, the world is growing rapidly and we have to speed up our pace to stay ahead. There are some things that we should move forward this year, otherwise Hong Kong is behind again Will go, “NG said.
Crypto Czar’s speech inspired steps
Echoing David Sachs’ speech, Johnny NG recommended a government initiative that highlights development for Stabelin and a National Bitcoin (BTC) reserve. Their recommendations to accelerate research for a feasibility study on bitcoin strategic stores in Hong Kong, rest in transactions types for licensed platforms, a digital asset department dedicated to release stables to companies and develop AI and Cripto Permission to open involves.
In addition, it also suggests seeking support from China in carrying out pilot applications for stablecoins in the country.
On 4 February, President Trump’s AI and Crypto Caesar David Sachs held a press conference to underline Trump’s vision, which will carry forward the Crypto landscape in the US
Sacks specifically highlighted Stabechoin as a tool to promote US dollar domination. In addition, he also said that the operation of “a strategic BTC reserve viability” has become the top priority for the Crypto Council.
