Animoca Brands Founder Believes Hong Kong is Becoming a Blockchain Hub

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Yat Siu, co-founder of the investment company Animoca Brands, is part of an expert group that advises Hong Kong officials on developing regulations for the blockchain industry.

He believes that a powerful blockchain hub will be formed in Hong Kong in the coming years due to the increasingly tighter US policy towards the blockchain industry requiring crypto companies to look to Asian markets.

Siu stated that the city authorities need to focus on the promotion of virtual reality projects using Web3 technology, as other countries unlike the United States are interested in the industry’s growth.

He noted that, unlike in Hong Kong and other jurisdictions such as Japan, the Middle East and Europe, the SEC has taken a consistent stance towards stifling the industry.