ARK Invest CEO and chief investment officer Cathie Wood is urging the U.S. to follow Hong Kong’s example in regulating cryptocurrencies.

Wood expressed the sentiment in a dialogue at the latest edition of the Hong Kong Web3 Festival, where she spoke on several key topics shaping the future of the blockchain and crypto industries.

During the conversation, she praised Hong Kong’s progressive policies, especially in fostering a conducive environment for crypto, contrasting the special administrative region’s swift responses to market demands with the regulatory uncertainties faced by the U.S. 

She especially singled out Hong Kong’s regulatory agencies for their effective management structure in facilitating the trading of virtual assets and commended the Securities and Futures Commission (SFC) for providing comprehensive regulatory frameworks and mechanisms for institutional supervision.

Wood acknowledged Hong Kong’s rapid development compared to the U.S., particularly in terms of policy leadership and support for innovative technology and entrepreneurship. 

Wood suggests that the U.S. could learn from Hong Kong on how to address regulatory uncertainties and support blockchain practitioners better. 

She termed the recent approval of 11 spot Bitcoin exchange-traded funds (ETFs) by the U.S. Securities and Exchange Commissio

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Author: Julius Mutunkei

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