Legislative Councilor Ng Kit-chong remarked that this year has seen significant breakthroughs in the global cryptocurrency landscape. Ng called on the Hong Kong government to continue improving the legal framework surrounding cryptocurrencies, suggesting that easing regulations will foster industry growth. He believes these efforts are crucial for reinforcing Hong Kong's status as an international financial center and developing it into a hub for innovation and technology.
Additionally, the police reported that from last year until October this year, they received over 5,500 cases related to cryptocurrencies, resulting in losses exceeding HK$7.4 billion. Ng emphasized that while the government should enhance regulation and public education, citizens must also deepen their understanding of cryptocurrencies and be aware of investment risks, urging them to avoid the temptation of quick profits.
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