As Investors Bite Dust, Hong Kong Central Bank Releases Statement Against Bitcoin

As Investors Bite Dust, Hong Kong Central Bank Releases Statement Against Bitcoin

In the wake of recent fraud allegations against a Bitcoin investment company, Hong Kong Central Bank asked people to take extra precautions while investing in speculative investments such as cryptocurrencies. "Such investments may involve fraud or pyramid schemes," The Hong Kong Monetary Authority (HKMA) stated in its statement. "Given the highly speculative nature of Bitcoin, we have all along urged the public to exercise extra caution when considering making transactions or investments with Bitcoin." On Monday, Chinese news website SCMP had published a report about a Hong Kong Bitcoin....


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Quotes

I understand the political ramifications of [Bitcoin] and I think that government should stay out of them and they should be perfectly legal.

Roger Ver, Bitcoin Angel Investor and Evangelist