Hong Kong will educate the public on cryptocurrencies and ICO risks

nWalkout commentary: With increasing interest in cryptocurrencies, many governments and agencies are beginning to recognize the importance of public education activities in consumer protection. In order to enable people to fully understand ICO and cryptocurrencies investment and make wise investment decisions, Hong Kong authorities have launched an educational campaign that will publicize the possible risks to this public investment through various channels. This kind of activity is of great importance and deserves reference from other regulators.n
nTranslation: Inan
Hong Kong authorities launched a campaign to publicize the risks of investing in ICOs and cryptocurrencies.n
The event, announced on January 29, was jointly launched by the Financial Services and the Treasury Bureau of Hong Kong (FSTB) and the Investor Education Center (IEC) under the Securities and Futures Commission of Hong Kong (SFC).n
As people become more interested in the cryptocurrency market, the event is the government-led event that helps the public fully understand the ICO and cryptocurrency investments through multiple channels such as urban subway systems, television and social media Contact with the public.n
Joseph Chan, deputy secretary general of FSTB said:n
n”Through this series of public education campaigns, the government aims to give the public a correct and comprehensive understanding of ICO and cryptocurrencies, enabling them to fully assess risk before making a deal or investment decision.”n
nIn addition, the IEC publishes publicly-available ICO and cryptocurrency information on its website called Chin Family.n
Prior to this event, SFC had warned in September last year that the tokens issued through the ICO could be considered securities and subject to regulation. The agency said last month that only licensed companies can provide bitcoin futures and other financial instruments related to cryptocurrencies.n

Leave a Reply

Your email address will not be published. Required fields are marked *