The Hong Kong Monetary Authority has “closed the door” and stated that crypto assets are not target assets for foreign exchange fund investment

Earlier, Hong Kong Legislative Council member Wu Jiezhuang wrote that the global recognition of Bitcoin is increasing, and he believes that the Hong Kong government may consider including Bitcoin in the strategic fiscal reserve in the future under compliance. However, the HKMA immediately "closed the gate", pointing out that the foreign exchange fund invests in global diversified assets and markets to diversify risks and enhance long-term returns, and crypto assets are not the target assets of the foreign exchange fund investment. In addition, Chong Tai-liang, executive director of the Liu Zuode Institute of Global Economics and Finance at the Chinese University of Hong Kong, said that the Hong Kong government should not buy Bitcoin because its value has been denied by many scholars and officials. If it takes the lead in buying Bitcoin, it may indirectly encourage citizens to buy such worthless things. The job of the Hong Kong government should be to provide a legal and safe platform for market transactions, rather than buying Bitcoin offside. (orangenews)