Altcoin Alerts - ICO Token Sale LISTING | News | Press Release UPCOMING ICO's PAST ICO's EVENTS SUBMIT ICO

Hong Kong Enterprise to Instruct Public On Cryptocurrencies and ICOs

Hong Kong Enterprise to Instruct Public On Cryptocurrencies and ICOs

February 7, 2018 6:26 am,

Hong Kong Enterprise to Instruct Public On Cryptocurrencies and ICOs

Previous this week, Hong Kong’s Financial Services and Treasury Bureau (FSTB) and Investor Education Center (IEC) hurled a public operation to instruct cryptocurrency supporters in Hong Kong about the possible risks related with this new and growing industry. According to Under Secretary for the FSTB, Joseph Chan, the purpose of the program is to deliver an accurate and complete acceptance of ICOs and cryptocurrencies to help give the public the tools to make informed choices on their reserves.

The movement has many aspects, comprising television and radio ads, ads that will be showed in Hong Kong’s public transit system, and government-sponsored educational videos which will be forwarded to social media. As well, included in the operation will be articles and infographics on ICOs and cryptocurrencies. Information is already live on their website, which has instructive tools in a variation of arenas, as well as protection from scams and wallet security.

Hong Kong has usually been more open on the way to cryptocurrencies, contrary to the opposition faced in mainland China. One of the larger cryptocurrency exchanges, Gatecoin, operates in Hong Kong, and regulators have usually held an alert but open method. As demonstrated by this new campaign, their anxiety is concentrated chiefly on protecting and informing investors, rather than finish the door on this emerging asset class.

One of the chief drivers behind the educational drive is because of the instability of the cryptocurrency markets, which some customary investors are not prepared for. “Cryptocurrencies are extremely projected and are associated with numerous types of risks. Their prices may be vulnerable to major variations due to speculative actions.”

It is not the first time that a government has pushed for state-sponsored instructive plans on cryptocurrencies and associated technology. Last year, the Russian government publicized it expected to comprise cryptocurrency in its financial literacy development plan in order to help better teach the Russian people.