The Trump administration allowed a national emergency declaration related to Hong Kong to expire on July 17, ending sanctions on nine Chinese officials tied to the city’s autonomy crackdown. Executive Order 13936, originally signed by Trump during his first term in July 2020 in response to Beijing imposing its national security law, provided the legal basis for sanctions imposed on 48 officials between 2020 and 2025. This decision comes roughly two months after a meeting between Trump and Chinese President Xi Jinping, suggesting a diplomatic concession from Washington. Hong Kong continues its strategy to establish itself as a regulated cryptocurrency hub in Asia, with a regulatory framework in sharp contrast to mainland China’s outright crypto ban.
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