But Hong Kong is part of China, now. Will China let them?
The island enjoys autonomy and operates in a political and social system completely different from that followed by China. Taiwan cannot disengage from China, and the latter keeps it under a watchful eye.
Taiwan can pass internal laws without referring to China, but this may not be a wise decision since China does not support cryptocurrencies given that China is the first economic partner of the island.
Taiwan, however, cannot give up the bulk of its interests with China or with other allies that do not support cryptocurrency.
Not really. Hong Kong's autonomy is limited. They're controlled and operated by China with a marginal amount of additional freedoms that mainland Chinese citizens don't enjoy.
https://www.reuters.com/world/china/chinas-xi-says-full-control-over-hong-kong-achieved-determined-taiwan-2022-10-16/Xi Jinping considers Hong Kong to be part of China. A couple years ago, China would ship in law enforcement to take over the region and it has pretty much been under their control since.
Yesterday, I followed the results of the decisions of the Twentieth Congress of the Communist Party of China, which stipulate in its most important articles that Taiwan is a Chinese province and the expansion of the influence of the Chinese president within the party, who is considered the largest adherent to the island of Taiwan as part of the Chinese People's Republic.
This is no alarm bell for Taiwan, as it can still enjoy autonomy without coming out from under the Chinese cover, as the anti-Chinese countries (mainly America and its allies) seek. On this basis, the adoption of cryptocurrencies may not represent a big problem for China as much as it will represent for Taiwan, which may be looking for new customers with new ingredients in an attempt to get rid of the influence of its traditional partners.
