Sun Yuchen: Hong Kong's new crypto policies have far-reaching implications, and we will fully embrace the opportunities in Hong Kong
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Sun Yuchen: Hong Kong's new crypto policies have far-reaching implications, and we will fully embrace the opportunities in Hong Kong
Huobi will fully safeguard user assets and seize the opportunities presented by Hong Kong's new policies.
Navigating Web3 tides with focused insightsOn the evening of February 22, Justin Sun, founder of TRON and member of Huobi Global Advisory Council, was invited to attend the Twitter Space event "Hong Kong Concept Soars, Mysterious Eastern Force Rises," hosted by Meta Era. During the session, he delivered insightful responses on topics including “how to protect user assets,” “Hong Kong’s new fiscal budget and its implications,” and “Huobi’s plans in Hong Kong.” In an interview with Yi Nengjing, Justin Sun revealed that Huobi is preparing to apply for a cryptocurrency trading license in Hong Kong. Once obtained, Huobi will establish and operate a licensed Hong Kong platform. He also emphasized that both Huobi and TRON are fully committed to embracing Hong Kong's regulatory policies and opportunities. As a keynote speaker, Justin Sun once again demonstrated his strong confidence and determination toward Hong Kong’s potential and strategic development.
Huobi Committed to User Asset Security and Seizing Hong Kong's Regulatory Opportunities
As a member of the Huobi Global Advisory Council, Justin Sun consistently supports Huobi at every public appearance. This time was no exception, as he shared Huobi’s latest strategic moves.
Justin Sun noted that asset security solutions within the industry have become quite mature. Especially after the FTX incident—while it contributed to a bear market in some ways—the industry has recovered significantly, and such events have driven greater transparency.
"Currently, major exchanges including Huobi have already implemented Merkle tree-based asset verification methods. Meanwhile, Vitalik Buterin has proposed even more advanced approaches, such as using zero-knowledge proofs for asset verification. Huobi will certainly be among the first to adopt these cutting-edge technologies," emphasized Justin Sun.
To ride the wave of Web3 development in Hong Kong, Justin Sun revealed that Huobi will proceed in two steps: first, applying for a compliant license; once approved, Huobi will launch a dedicated Hong Kong platform and operate under full compliance.
"When the 'Hong Kong concept' wasn't popular yet, we were among the earliest supporters. Now, it’s gratifying to see this concept gaining wider recognition," said Justin Sun.
Hong Kong's New Crypto Regulations Carry Global Significance, Impact Cannot Be Underestimated
Since last year, relevant departments in the Hong Kong Special Administrative Region have issued a series of important statements and policy measures regarding the crypto industry, creating significant impacts across the sector. Justin Sun pointed out that the regulatory framework proposed by the Hong Kong government greatly benefits the development of cryptocurrencies across Asia, directly addressing previous uncertainties.
"The biggest obstacle to rapid crypto growth in Asia used to be uncertainty. Without clear, long-term regulatory frameworks, many institutions hesitated to invest. First, individual investors were reluctant to buy crypto; second, they didn’t trust exchanges due to fears of exit scams. More importantly, institutional participation was blocked—many institutional LPs require strict custody standards and robust security measures before allowing investments. Without meeting these requirements, investment simply cannot happen," explained Justin Sun.
From this perspective, Justin Sun believes that with Hong Kong providing such a framework, platforms like Huobi can better earn the trust of retail users and institutional investors alike.
At a broader level, Justin Sun sees this as a long-term, substantial positive.
"If a jurisdiction offers a rule-of-law environment with strict enforcement, effectively protecting investors and building systemic trust, it will greatly benefit the development of crypto and blockchain not only in Asia but globally. With so many favorable initiatives emerging in Hong Kong, even Singapore is feeling competitive pressure. Such healthy competition will help improve regulatory attitudes across Asian countries," he said.
Justin Sun also mentioned that following the FTX collapse, the U.S. has adopted stricter regulations overall. Globally, many Asian nations tend to follow the U.S. regulatory stance—if the U.S. tightens rules, global crypto growth could slow down. Therefore, Hong Kong’s supportive approach carries profound global significance.
"Previously, Coinbase co-founder Brian Armstrong even shared content related to Hong Kong’s new crypto policies. Platforms, policymakers, and participants alike hope that Hong Kong’s policies might indirectly influence U.S. policy decisions, leading to positive changes. I believe this is like rain after a long drought for the entire crypto world," said Justin Sun.
Justin Sun concluded by expressing strong confidence in China’s overall economic development.
"I am fully confident in the government’s resolve to grow the economy. From this standpoint, both Huobi and TRON are fully embracing current policies," Justin Sun stated directly.
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