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Paul Chan: Virtual currencies are part of financial innovation, and Hong Kong should embrace them but handle them cautiously

2026-01-10 08:03:58

Odaily Planet Daily News: Hong Kong Financial Secretary Paul Chan Mo-po stated today during a program that Hong Kong's economy grew by 3.2% last year. Regarding the development of virtual currencies and artificial intelligence, Chan Mo-po pointed out that virtual currencies are part of financial innovation and Hong Kong should embrace them. However, he noted that the confidentiality of blockchain technology could lead to insufficient investor protection, impact anti-money laundering efforts, and threaten financial stability. He emphasized that the Hong Kong government must handle these cautiously, incorporating appropriate regulatory frameworks. At the same time, Chan Mo-po expressed skepticism about the widespread promotion of virtual currency investments to the public, believing that more education and publicity are needed. (Hong Kong Commercial Daily)

Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.

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Liangsheng

· 01-10 08:06

Hold on tight, we're about to take off 🛫

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