Hong Kong Government Expresses Negative Opinion on Including Virtual Assets in Fiscal Reserves
Summary
- The Hong Kong government has expressed a negative stance on the proposal to include virtual assets in fiscal reserves.
- Lawmaker Ng Kit Chuang argued that this is an opportunity to utilize virtual assets in the long term.
- Financial Services Secretary Chan Ho-lin stated that investments related to virtual assets are possible but the proportion will be small.
The Hong Kong government has expressed a negative opinion on the proposal to include virtual assets (cryptocurrency) in fiscal reserves.
According to a report by local media OnCC on the 11th (local time), Hong Kong lawmaker Ng Kit Chuang argued to the government, "The world is paying attention to the development of the virtual asset industry. Digital assets and virtual assets should be integrated into fiscal reserves, and exchange funds should be utilized to continue purchasing them in the long term."
In response, Financial Services Secretary Chan Ho-lin stated in a written reply, "The Hong Kong Exchange Fund is investing in various asset classes. While there may be investments related to virtual assets depending on the timing, the proportion related to this will be very small."
YM Lee
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