The enterprise faculty of the University of Hong Kong (HKU) is now contemplating accepting Bitcoin and different digital belongings for donation and cost of tuition charges. This growth comes a month after the Hong Kong Stablecoin Ordinance went into impact on August 1, in step with the Asian-nation state’s dream of changing into a world digital asset hub.
Let’s Give Bitcoin A Chance, HKU Professor Says
According to the native media information outlet South China Morning Post, Professor Cai Hongin, the Dean of the Business School at HKU, expressed the establishment’s readiness to discover the suitability of Bitcoin and different cryptocurrencies as a type of cost.
While talking on the CryptoFi Forum on Wednesday, August 27, the outstanding Chair of Economics and Director of the Institute of China Economy known as for the related stakeholders to help this cost program on the Hong Kong University Business School. Professor Hongin mentioned:
All the technical particulars have been sorted out. We will take bitcoin and digital currencies for tuition charges and donations sooner or later; If we lose cash, we shall be dropping the cash of the college … It’s okay, we will deal with it, however no less than allow us to give it a attempt.
Meanwhile, an official assertion from an HKU Business School spokesperson on Friday, August 30, confirmed Hongin’s assertion establishment was certainly “actively exploring” the incorporation of cryptocurrencies as a price cost choice. The assertion learn:
HKU Business School is devoted to making a safe and sustainable setting for advancing analysis, growth, regulation, and sensible adoption of digital currencies in collaboration with our companions.
Hong Kong’s Bid To Become A Global Leader In Virtual Assets
As earlier acknowledged, the Hong Kong authorities continues to double down on its ambition of creating a robust crypto-friendly and enabling setting within the nation-state. In May, lawmakers handed the Stablecoin Ordinance, which formally got here into impact on August 1, establishing a statutory framework for fiat-backed stablecoins. The legislation covers the whole lot from issuance and reserves to secondary-market actions, guaranteeing that operators with a Hong Kong nexus meet strict licensing and compliance requirements.
At the identical time, the Securities and Futures Commission (SFC) has tightened guidelines for licensed crypto exchanges, mandating stronger custody measures equivalent to chilly pockets controls and real-time menace monitoring to guard traders’ pursuits. While the Hong Kong Monetary Authority (HKMA) has warned in opposition to speculative frenzy, the federal government’s proactive stance indicators its intent to rival Singapore, the United States, and Dubai as a trusted, regulated heart for digital belongings.
Featured picture from Britannica, chart from Tradingview
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