Hong Kong Finance Official Issues Bitcoin Warning
Caejer Chan Ka-keung, Secretary for Financial Services and the Treasury, has issued a warning on bitcoin - adding to a long list of countries around the world warning their citizens on the potential perils of the digital currency. The usual talking points were mentioned in the official's warning: high volatility, no government backing, and the like. The official also noted that bitcoin won't post a threat to the Hong Kong financial system. "We are closely monitoring its development to make sure bitcoin will not shock the stability of the local financial market," said the official. "Special....
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Another day, another bitcoin warning from an Asian regulator. This time it's Hong Kong's Secretary for Financial Services and the Treasury, Caejer Chan Ka-keung, who has issued a statement, warning the public that bitcoin is a highly speculative commodity which poses numerous risks. Chan declared that anyone who decides to trade, exchange or hold bitcoins should expect high risks, as the currency does not have intrinsic value, official issuers or a real economy behind it and it tends to fluctuate wildly. However, since bitcoin is not widely used it does not pose a threat to Hong Kong's....
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