Hong Kong Treasury Official Issues Bitcoin Warning
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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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....
A senior Hong Kong official has indicated that the government does not see a need for legislation that would regulate or ban bitcoin activities. The statement by Secretary for Financial Services and the Treasury Professor KC Chan comes in response to a question submitted during a meeting of the Legislative Council of Hong Kong by council member Leung Yiu-chung. Leung requested an update on the investigation into the MyCoin bitcoin investment scam as well as clarity on whether officials intend to regulate bitcoin activities more actively, according to a press release from the Hong Kong....
Hong Kong is one of the most important financial centres of the world, but with limited space and high demand, property in Hong Kong has always been in short supply. Simplifying home ownership in Hong Kong is therefore a prime concern for the Hong Kong government, which has undertaken a number of measures in the last few years to make home ownership both affordable and easy. The Nikkei Asian Review reported that as recently as early November, the Hong Kong government raised stamp duty to cool down the boiling Hong Kong housing market. This measure of the government was mainly aimed at....
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