Hong Kong: Educates the Public on Cryptocurrency

        Hong Kong’s latest effort to educate the public about initial coin offerings (ICOs) and cryptocurrencies.
Hong Kong’s Financial Services and Treasury Bureau (FSTB) and the Investor Education Center (IEC) have launched a public campaign on the medal pages, according to a recent press release.

According to the Undersecretary of the FSTB, Joseph Chan, the aim of the program is “to provide a better and more comprehensive understanding of ICOs and cryptocurrencies” so that the public knows what they are investing in.

This is not a government-sponsored education program on cryptocurrencies and ICOs. A few months ago, the Russian government announced a proposal to include the cryptocurrency in its strategy for improving financial literacy.
One of the main reasons for the educational push is the dangerous volatility of the cryptocurrency carriers. As the media hype cycle continues, more investors are interested in joining the market without doing their own due diligence.

“ICOs and cryptocurrencies are high-risk products that are not suitable for everyone.” Kelvin Wong, chairman of the IEC said. “Cryptocurrencies are highly speculative and involve a variety of risks, and their prices may be due to speculative activity.”
The campaign also includes ICOs and cryptocurrencies provided by Hong Kong’s Chin Family website – IEC’s Public Finance Training. Information on the topic is live on the site and will cover a variety of topics you need.

Hong Kong has been open to hostilities in mainland China. Gatecoin, one of the largest cryptocurrency markets, operates in Hong Kong and regulators have taken a cautious but open approach. Their concern is to protect and inform investors rather than close the door completely to this emerging asset class.