Hong Kong Financial Secretary on US Virtual Asset Reserves Question: "Hong Kong Is Not Afraid of Competition"
Son Min
Summary
- Hong Kong Financial Secretary Paul Chan stated that virtual assets can pose risks to the financial system.
- He noted that "Hong Kong is one of the financial jurisdictions that was among the first in the world to announce virtual asset policies."
- He said that Hong Kong is not afraid of competition and that it will create a better business environment.
The Hong Kong Financial Secretary has expressed his position on the United States' virtual asset (cryptocurrency) reserves.
According to Chinese local media PA News (PANews) on the 3rd (local time), Hong Kong Financial Secretary Paul Chan stated regarding the US strategic virtual asset reserve movement that "virtual assets can pose risks to the financial system," but also noted that "Hong Kong is one of the financial jurisdictions that was among the first in the world to announce virtual asset policies." He added, "Hong Kong is not afraid of competition," and that "competition will create a better business environment."
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
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