Approving spot Bitcoin and Ethereum ETFs after the USA, Hong Kong is on its way to becoming the cryptocurrency center of the region.
Julia Leung, CEO of Hong Kong SFC, which approves spot Bitcoin ETFs, talked about Bitcoin.
Speaking at the Hong Kong Greenwich Economic Forum, Hong Kong SFC CEO Julia Leung said Bitcoin clearly demonstrates its staying power as an alternative asset.
“Most central bankers and economists say virtual assets like Bitcoin and Ethereum do not have any intrinsic value.
However, I do not agree with this view.
While the intrinsic value debate will continue, 15 years later Bitcoin has emerged solid and strong from numerous boom and bust cycles, clearly demonstrating its enduring power as an alternative asset.
“More clearly, Bitcoin and its underlying technology, DLT, are here to stay.”
The CEO of the Hong Kong SFC warned investors that digital assets such as BTC are highly speculative in nature, saying that the SFC has ensured and will continue to ensure that the necessary measures are taken to protect investors.
SFC CEO Leung recently stated that SFC is also working to regulate stablecoins and said, “Preparations for a new regime that will regulate fiat money-fixed stablecoins are ongoing.”
*This is not investment advice.
