Is a Major Event Happening in China? USDT Founding Veteran: Will Open the Cryptocurrency Market, Preparing to Return to Work in Hong Kong

News Agency (Asia-Pacific) - Brock Pierce, a founding veteran of Tether, the issuer of the world's largest dollar stablecoin USDT, stated that he believes it is only a "matter of time" before China opens its cryptocurrency market. Despite several exchanges recently withdrawing their Hong Kong license applications, he hinted that he is considering returning to work in Hong Kong for the third time.

Looking back ten years, Brock co-founded the Tether stablecoin USDT in Hong Kong. One year after the company's establishment, in 2015, he sold his shares and left Tether.

Therefore, when he mentioned preparing to return to Hong Kong, it is more likely referring to his future new projects.

Last week, Brock Pierce, who currently serves as the Chairman of the Bitcoin Foundation, attended the Solowin and Sequire Asian Investors Summit held in Hong Kong. He is not certain if his future new projects or Hong Kong will become his permanent operating base, but he emphasized that Hong Kong is a market of "ongoing dialogue."

In an interview with the South China Morning Post (SCMP) in Hong Kong, he mentioned, "This could lead to something big."

He hinted at returning to work in Hong Kong for the third time, saying, "I go where I believe my time is most valuable. I am passionate about what is happening in Hong Kong, which means I am passionate about working here."

Contrary to the current market sentiment, Brock praised Hong Kong's regulatory environment, believing that Hong Kong is moving in the right direction.

Compared to countries like Singapore, Japan, and South Korea, which have launched their own cryptocurrency policies, Hong Kong is in a favorable position. He also pointed out that traditional finance (TradeFi) remains a particularly strong opportunity in Hong Kong's crypto market.

"I believe that Hong Kong is leading in many ways," he continued.

"The main opportunity in Hong Kong lies in TradeFi, which is where Hong Kong's digital dollar stablecoin has enormous potential."

Hong Kong has always been regarded as a gateway to the vast mainland Chinese market, attracting numerous cryptocurrency industry professionals amid policy changes over the past two years.

Despite China's strict ban on crypto activities and the regulatory authorities not yet indicating any policy shifts, the cryptocurrency industry continues to pay close attention to the Chinese government's stance on cryptocurrencies.

Brock stated that he believes China will eventually open its cryptocurrency market.

"Will China open up to cryptocurrencies? I would say it is inevitable."

"The question is not if, but when."