Join the larget crypto conference of 2022 in Bitcoin
Bitcoin
$ 39,046

Hong Kong Monetary Authority Exec says Crypto may play important role in future finance

0
(0)
Hong Kong Monetary Authority Exec says Crypto may play important role in future finance 4

The chief executive officer of the Hong Kong Monetary Authority (HKMA) shared his opinion on the role of the crypto industry in the future of financial services.

The financial regulatory bodies of Hong Kong didn’t regulate the cryptocurrency industry yet. Instead, The Hong Kong Monetary Authority (HKMA) stated that it does not regulate cryptocurrencies such as Bitcoin which it regards as a virtual “commodity” and not as Currency, or says can’t be used as/in payment method. 

Eddie Yue, CEO of Hong Kong Monetary Authority (HKMA), appreciated the role of cryptocurrencies as a revolutionary thing, during speaking at the G20 financial officials meeting, on 17 July Reuters reported.

Yue noted that technology uses to power the cryptocurrencies can be implemented in the general financial system with proper modification. But at the same time, he asserted that there is a huge need to implement better regulatory policies to ensure the safety of funds invested by crypto investors. 

To emphasize the need for strong regulatory policies, Yue took the example of the Terra (Luna) collapse, in which huge numbers of crypto investors lost all their funds. 

Future Yue claimed that such incidents may not be considered as a reason to degrade the innovation of the Defi industry. 

Yue explained:

“Despite the Terra-Luna incident, I think crypto and Defi won’t disappear – though they might be held back – because the technology and the business innovation behind these developments are likely to be important for our future financial system.”

The statement of the HKMA CEO is much similar to the recently released statement of the central bank agency, which called to bring better situation for the Crypto industry so that we can benefit from the same while keeping the risks associated with this innovative industry away.

This institution showed a significant inclination toward strict regulatory policies for the stablecoin companies, after the collapse of the Terra ecosystem.

Read also: Now Binance holds more numbers of Bitcoin over Coinbase

Hong Kong Monetary Authority Exec says Crypto may play important role in future finance

 

https://bitcoinik.com/hong-kong-monetary-authority-exec-says-crypto-may-play-important-role-in-future-finance/feed/

https://bitcoinik.com/hong-kong-monetary-authority-exec-says-crypto-may-play-important-role-in-future-finance/feed/

 

 

 

 

 

Ads by Cryptonews24

 

ETH-ERC20 Mining and Financial Management

ETH-ERC20 Mining and Financial Management

✅ Minimum Investment: 10 USDT.
✅ Minimum withdrawal: 1 USDT.
✅ Withdrawal time: 24h.
✅ Withdrawal day: Everyday.
✅ 5% cashback on first investment.
✅ daily profit 6-11.5% on your investment (Profit will be added every hour in your wallet).
✅ Get up to 10% referral Bonus.

The output of liquid mining is not constant and may be affected by the liquidity of the blockchain. The expected daily production income:

✅ VIP1: DEPOSIT 50~10000 USDT GET 2% EVERYDAY

✅ VIP2: DEPOSIT 10001~50000 USDT GET 2.5% EVERYDAY

✅ VIP3: DEPOSIT 50001~100000 USDT GET 3% EVERYDAY

✅ VIP4: DEPOSIT 100001~200000 USDT GET 4% EVERYDAY

✅ VIP5: DEPOSIT 200001~500000 USDT GET 5% EVERYDAY

✅ VIP6: DEPOSIT 500001~1000000 USDT GET 7% EVERYDAY

✅ VIP7: DEPOSIT OVER 1000001 USDT GET 8% EVERYDAY

 

📌 You must open wallet  (Metamask, Tronlink e.t.c. ) and connect it,  for earning income

▬▬▬▬▬▬▬▬▬▬▬▬▬▬

𝙍𝙀𝙂𝙄𝙎𝙏𝙍𝘼𝙏𝙄𝙊𝙉 𝙇𝙄𝙉𝙆👇🏽
https://eth-trc20.org/h5/#/?p=16327

 

ETH-ERC20 Mining and Financial Management

▬▬▬▬▬▬▬▬▬▬▬▬▬▬

👇👇👇👇👇👇👇👇👇👇
Support Telegram Group: https://t.me/+TjCkS2KwKfQwZjM0

—————————————————————————————————————————————-

Ads by Cryptonews24

 

 

 

Risk Reminder:
Trading foreign exchange and/or contracts for differences on margin carries a high level of risk and may not be suitable for all investors.
The possibility exists that you could sustain a loss in excess of your deposited funds.
Before deciding to trade the products reviewed by Cryptonews24.eu, you should carefully consider your objectives, financial situation, needs and level of experience.
You should be aware of all the risks associated with trading on margin.
Cryptonews24.eu provides general news and advice that does not consider your objectives, financial situation or needs.
The content of this website must not be construed as personal advice.
Cryptonews24.eu recommends you seek advice from a separate financial advisor.
Nothing on this website should be considered financial advice.
This website is for informational purposes only and you should not rely on anything that is printed or said on this website to make any financial decisions.

 

How useful was this post?

Click on a star to rate it!

Average rating 0 / 5. Vote count: 0

No votes so far! Be the first to rate this post.

TELEGRAM
Cryptonews24 Channel Chat