Wu Jiezhang: This year, Hong Kong will introduce regulations for cryptocurrency custody and OTC trading, which may allow professional investors to engage in larger-scale transactions

According to CoinDesk, Hong Kong Legislative Council member Wu Jiezhuang stated in an interview with CoinDesk that Hong Kong is positioning itself as a global hub for the cryptocurrency market.

Wu emphasized that Hong Kong should not compete with other jurisdictions but should act as a bridge. He pointed out, "Cryptocurrency and Web3 are highly connected to the traditional financial system." With the Greater Bay Area initiative, Hong Kong can connect the scale of mainland cities, the depth of manufacturing, and technological talent, while providing regulatory clarity and financial credibility. Wu also mentioned that this year Hong Kong will introduce regulations for custody and over-the-counter trading, and may allow professional investors to engage in higher volume trading.

Wu also stated that the field of artificial intelligence will also integrate with cryptocurrency, and Hong Kong occupies a unique position in this regard, being able to handle both Western and Chinese datasets, thus becoming a platform for global AI company collaboration. He believes Hong Kong's advantage lies in maintaining openness, being regulated, and interconnected, occupying a central position in this still-developing system.