![](\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjUtMDcvMDE5ODA4ZDgtNGUwYi03YzY1LWI5OGQtZjQxNjg4YmIyMDdl.jpg\")
\n <\/p>\n\n \n <\/p>\n
China\u2019s plan to liquidate confiscated crypto through Hong Kong exchanges isn\u2019t simply a policy \u2014 it\u2019s to control global digital asset markets and outmaneuver the US.<\/p>\n
Opinion by: Joshua Chu, co-chair of the Hong Kong Web3 Association\u00a0<\/strong><\/em><\/p>\n Last week\u2019s announcement<\/a> of Hong Kong\u2019s LEAP Digital Assets Policy Statement 2.0 was made with much anticipation and fanfare. The government of Hong Kong promised a comprehensive regulatory framework that will unify licensing and \u201cexpand the suite of tokenised products.\u201d\u00a0<\/p>\n Yet beneath the hype and visible maneuvers lies a far more consequential move: Beijing\u2019s (the world\u2019s second largest holder of crypto) announcement of its intention to liquidate confiscated virtual currencies through Hong Kong\u2019s licensed exchanges. These events, while seemingly separate, are actually components of a carefully orchestrated strategy by China, designed to position Hong Kong as the dominant virtual asset hub and China\u2019s strategic market operator.<\/p>\n Read more<\/p>\n<\/p>\n If you liked the article, do not forget to share it with your friends. Follow us on\u00a0Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n If you want to read more News<\/a> articles, you can visit our General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n\n