Paul Chan: Virtual currency is part of financial innovation, and Hong Kong should embrace it but must handle it with caution.

Hong Kong Financial Secretary Paul Chan Mo-po stated today (January 10) during a program that Hong Kong's economic growth last year was 3.2%. Regarding the development of virtual currency and artificial intelligence, Paul Chan pointed out that virtual currency is part of financial innovation, and Hong Kong should embrace it. However, the confidentiality of blockchain technology may bring risks such as insufficient investor protection, impacts on anti-money laundering, and threats to financial stability. He emphasized that the Hong Kong government must handle this cautiously and incorporate appropriate regulatory frameworks. At the same time, Paul Chan expressed doubts about promoting virtual currency investment comprehensively to the public and believes that publicity and education should be strengthened.