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Crypto Mogul Sun Says Huobi Betting China Will Warm to Digital Assets as Exchange Targets Hong Kong

  • Sun says Hong Kong viewed as an ‘experiment zone’ for crypto
  • China largely banned crypto-sector activity over a year ago
Bloomberg business news
Tron's Sun: HK Viewed as 'Experiment Zone' for Crypto

Digital-asset exchange Huobi plans to expand its operations in Hong Kong, betting the city’s pro-crypto pivot presages an easing of the ban on virtual coins in mainland China and hence smoother access to users there.

Hong Kong is seen as “as one of the experiment zones for crypto development in China,” Justin Sun, an adviser at Huobi who sets strategy for the firm, told Bloomberg TV in an interview on Friday. That’s “one of our biggest reasons to expand in Hong Kong,” he said.