TechFlow News: On February 9, according to the Sing Tao Daily, the Chief Executive’s Policy Unit held a symposium on digital finance, attended by research teams from the Institute of Finance of the People’s Bank of China, members of the Web3.0 Development Task Force, and Mr. Joseph Yam, former Chief Executive of the Hong Kong Monetary Authority (HKMA). Mr. Yam stated, “Cryptocurrencies are neither the only encrypted things nor money,” and pointed out that assets such as Bitcoin lack monetary attributes, posing challenges for regulators in areas including anti-money laundering (AML) and investor protection. Participants also proposed that Hong Kong could explore enhancing capabilities in monitoring digital wallets and tracking illicit activities to bolster market confidence.
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