Cathie Wood, CEO and chief investment officer of ARK Invest, is calling on the US to follow Hong Kong's example in regulating cryptocurrencies.
Wood expressed that sentiment during a conversation at the latest edition of the Hong Kong Web3 Festival, where he discussed several important topics shaping the future of the blockchain and crypto industry.
In the conversation, she highlighted Hong Kong's progressive policies, especially in fostering a favorable environment for cryptocurrencies, contrasting the SAR's rapid response to market demands with the regulatory uncertainty faced by the United States. I admired it.
She specifically singled out the Hong Kong regulator for having an effective governance structure in facilitating trading in virtual assets, noting that the Securities and Futures Commission (SFC) has developed a comprehensive regulatory framework and institutional oversight mechanism. I praised what they were offering.
Mr. Wood acknowledged that Hong Kong is developing rapidly compared to the United States, particularly in terms of policy leadership and support for innovative technology and entrepreneurship.
Wood suggests that the United States can learn from Hong Kong on how to deal with regulatory uncertainty and better support blockchain practitioners.
He called the recent approval of 11 Bitcoin exchange-traded funds (ETFs) by the U.S. Securities and Exchange Commission (SEC) a historic milestone, which has led to increased efforts in marketing, investor education, and training. said.
Wood also noted that many clients in the U.S. are realizing the potential of investing across crypto assets, and there is growing interest from institutions and investors in allocating funds to these areas for hedging purposes. he pointed out.
While acknowledging the risks associated with Bitcoin, including bull and bear market fluctuations, Woods asserted that the price of Bitcoin could rise to $1.5 million by 2030, and this prediction Part of this is due to the adoption of the Bitcoin Spot ETF.
Mr. Wood also highlighted the impact of Web3 on a variety of sectors, emphasizing its potential for cross-border innovation and broad accessibility. He also mentioned the integration of AI into blockchain technology, pointing to examples such as Sony's gaming investments and Polygon's blockchain efforts, which show that significant progress has been made in certain areas (such as gaming and crypto assets). He said it is expected.
