HK envisions a positive outlook for cryptos, especially altcoins ?

[fvb]

Basically, everything that happens at such events has a good effect on technology as a whole with its news. And I think that the meetings will be beneficial and there will be various proposals for development in many directions

[umbara ardian]

The lifting of the ban on cryptocurrencies by the Hong Kong government and banks starting to support the development of Web3 is a positive signal for the crypto industry. This backing could lead to an increase in crypto investment in Hong Kong, contributing to a bullish environment for altcoins.

However, the cryptocurrency market is complex and depends on many different factors, including economic, political, and technical ones. Therefore, we cannot make accurate predictions about the future of altcoins. But, with government and industry support, I think Web3 can flourish in Hong Kong and become an important part of the local economy. Increasing Web3 development will create new opportunities for altcoin projects.

[DeathAngel]

We’re yet to see a positive reaction in the market after this news. I hope we’ll see prices start to pump soon, I would expect if China start to become crypto friendly again it’d be very bullish. In the 2021 bull run when China banned bitcoin we dumped from 45k to 28k briefly in one day, I remember it well. So if China starts becoming crypto friendly again, hopefully it’ll be good for prices. Maybe because the US won’t give regulatory clarity, China sees it as an opportunity to get exchanges to move to China.

[vv181]

Some regions favour cryptocurrency adoption and development by embracing many businesses to open up in their location. Regulation clarity attracts people to innovate or start-up crypto-related companies. Nevertheless, such kind of news won't simply make altcoin season will come up or crypto investment will flourish. Note that other countries are also competing to be "crypto hubs", Dubai is a recent example.

Will this create a more bullish environment for altcoins ?

The altcoin market outlook will mainly follow how the bitcoin market performs.

[FireDAOJackie_Z]

We’re yet to see a positive reaction in the market after this news. I hope we’ll see prices start to pump soon, I would expect if China start to become crypto friendly again it’d be very bullish. In the 2021 bull run when China banned bitcoin we dumped from 45k to 28k briefly in one day, I remember it well. So if China starts becoming crypto friendly again, hopefully it’ll be good for prices. Maybe because the US won’t give regulatory clarity, China sees it as an opportunity to get exchanges to move to China.

It will be coming very soon. The new rules and crypto policies will be implemented in June so starting from then, the whole market will be bullish, at least for a short period. Indeed China sees US's aggressive regulations as an opportunity to attract more hot money flowing back to Hong Kong, China. Despite the crypto prices continue to drop, I still buy some in for the upcoming boom. We'll see.

[Silberman]

We’re yet to see a positive reaction in the market after this news. I hope we’ll see prices start to pump soon, I would expect if China start to become crypto friendly again it’d be very bullish. In the 2021 bull run when China banned bitcoin we dumped from 45k to 28k briefly in one day, I remember it well. So if China starts becoming crypto friendly again, hopefully it’ll be good for prices. Maybe because the US won’t give regulatory clarity, China sees it as an opportunity to get exchanges to move to China.

If at least one of those countries gave favorable signals that will be a reason for the market to pump, but while both of them want to use bitcoin to their advantage both of them also hate the freedoms people can get through it, which is why both seem to be so indecisive about it and their policies keep changing, however it would not surprise me if this was also nothing more but another scheme by the Chinese government so a few months later they can once again change their posture and create more FUD to try to bring this market down.

[Abiky]

If at least one of those countries gave favorable signals that will be a reason for the market to pump, but while both of them want to use bitcoin to their advantage both of them also hate the freedoms people can get through it, which is why both seem to be so indecisive about it and their policies keep changing, however it would not surprise me if this was also nothing more but another scheme by the Chinese government so a few months later they can once again change their posture and create more FUD to try to bring this market down.

Most governments are joining the crypto/Blockchain train because of the taxation benefits. Not because they want people to achieve true financial freedom. The latest series of events tied to crypto mixers and privacy coins alike tells us how mainstream governments (especially the US) are against people's financial freedom. I think that's exactly what China will be doing through Hong Kong in the long run. It will "embrace" crypto/Blockchain tech to attract investors, but the government won't let people use decentralized cryptocurrencies at their full extent.

There's no need to be surprised about this, especially when China is a communist country. Communism = more power for the government and less freedom/rights for individuals. Let's see if China's move will trigger Russia to do the same in the future. Who needs the approval of governments for crypto to survive anyways? Just my thoughts

[FireDAOJackie_Z]

If at least one of those countries gave favorable signals that will be a reason for the market to pump, but while both of them want to use bitcoin to their advantage both of them also hate the freedoms people can get through it, which is why both seem to be so indecisive about it and their policies keep changing, however it would not surprise me if this was also nothing more but another scheme by the Chinese government so a few months later they can once again change their posture and create more FUD to try to bring this market down.

Most governments are joining the crypto/Blockchain train because of the taxation benefits. Not because they want people to achieve true financial freedom. The latest series of events tied to crypto mixers and privacy coins alike tells us how mainstream governments (especially the US) are against people's financial freedom. I think that's exactly what China will be doing through Hong Kong in the long run. It will "embrace" crypto/Blockchain tech to attract investors, but the government won't let people use decentralized cryptocurrencies at their full extent.

There's no need to be surprised about this, especially when China is a communist country. Communism = more power for the government and less freedom/rights for individuals. Let's see if China's move will trigger Russia to do the same in the future. Who needs the approval of governments for crypto to survive anyways? Just my thoughts

Well, I guess governments are merely a symbol to represent the force to restrain the individual freedom, not the roots. Any monopoly, financial institutions, can become the powerful force to be against individual freedom, especially the financial freedom. On the other hand, not all restrain can only do harm to individual freedom because investors are only prone to make profits while ignoring all rules and regulation. Certain control/regulation from either governments or regulatory bodies is necessary for crypto market's healthy development.