The enterprise college of the College of Hong Kong (HKU) is now contemplating accepting Bitcoin and different digital property 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 turning into a world digital asset hub.
Let’s Give Bitcoin A Likelihood, HKU Professor Says
In keeping with the native media information outlet South China Morning Put up, Professor Cai Hongin, the Dean of the Enterprise Faculty at HKU, expressed the establishment’s readiness to discover the suitability of Bitcoin and different cryptocurrencies as a type of cost.
Whereas talking on the CryptoFi Discussion board on Wednesday, August 27, the distinguished Chair of Economics and Director of the Institute of China Financial system referred to as for the related stakeholders to help this cost program on the Hong Kong College Enterprise Faculty. Professor Hongin mentioned:
All of the technical particulars have been sorted out. We’ll take bitcoin and digital currencies for tuition charges and donations sooner or later; If we lose cash, we might be dropping the cash of the school … It’s okay, we are able to maintain it, however not less than allow us to give it a attempt.
In the meantime, an official assertion from an HKU Enterprise Faculty spokesperson on Friday, August 30, confirmed Hongin’s assertion establishment was certainly “actively exploring” the incorporation of cryptocurrencies as a charge cost possibility. The assertion learn:
HKU Enterprise Faculty 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 Turn into A International Chief In Digital Property
As earlier said, 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 Could, 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.
On the similar time, the Securities and Futures Fee (SFC) has tightened guidelines for licensed crypto exchanges, mandating stronger custody measures reminiscent of chilly pockets controls and real-time menace monitoring to guard traders’ pursuits. Whereas the Hong Kong Financial Authority (HKMA) has warned towards speculative frenzy, the federal government’s proactive stance indicators its intent to rival Singapore, the US, and Dubai as a trusted, regulated middle for digital property.
Featured picture from Britannica, chart from Tradingview
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