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Hong Kong's Crypto Adoption Signals "Big Moves" in Mainland China, Says Animoca Co-Founder

According to Animoca co-founder Yat Siu, Hong Kong's recent surge in cryptocurrency and Web3 adoption is indicative of significant developments taking place in mainland China. Siu noted that China's release of its Web3 white paper in May, which emphasized the importance of Web3 in the future of the internet, should not be overlooked.

Despite China's ban on cryptocurrency, Siu emphasized that the news of Hong Kong's crypto advancements has been widely circulated in China, including on national TV. Siu also argued that Web3 is a tool for breaking away from US-dominated technologies, which is particularly important for countries like China that are focused on de-dollarization.

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