The largest cryptocurrency event in Hong Kong, Bitcoin Asia 2025, is facing significant controversy. Two local officials have withdrawn following the announcement that Eric Trump, son of U.S. President Donald Trump, will be the main host.
According to sources, officials withdrew due to Trump's involvement. Legislators were advised to avoid participating in events with his presence. There are concerns that attending could be seen as supporting the U.S. government. This highlights the political pressure Hong Kong faces in developing its cryptocurrency hub.
The withdrawal of key figures such as Eric Yip Chee-hang and legislator Johnny Ng Kit-chong highlights these challenges. This action underscores Hong Kong's precarious position amid the escalating tensions between China and the United States. The U.S. has imposed tariffs on exports from Hong Kong, complicating matters further.
Eric Trump's role at Bitcoin Asia 2025
Despite the controversy, Eric Trump remains a key figure at Bitcoin Asia. He will host two discussion sessions, including one titled 'Everything About Bitcoin'. Trump's involvement in the cryptocurrency sector continues to grow. He is one of the founders of American Bitcoin, a mining company, and World Liberty Financial. His participation in this event reflects the Trump administration's efforts to reinforce the U.S.'s leading position in the digital asset space.
Hong Kong remains determined to bolster its position in the digital asset market. However, the political situation may complicate Hong Kong's objectives. The government released Policy Statement 2.0 in June, aiming to make Hong Kong a leading cryptocurrency hub. Additionally, a new stablecoin decree provides further options for cross-border trading to reduce costs. However, the political situation may complicate Hong Kong's objectives.
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