Johnny Ng Pushes for Bitcoin Inclusion in Hong
Kong’s Fiscal Reserves
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Johnny Ng, a Hong Kong Legislative Council Member, has stated that he will be working with different parties to examine the possibilities and implications of using Bitcoin in the special administrative region’s reserves.
This initiative focuses on determining how Bitcoin can be effectively incorporated into the Hong Kong economy under legal guidelines. Specifically, Ng stresses that extensive study should be conducted and that current laws must be followed to provide safe, secure integration while maintaining strategy.
In Ng’s proposal he suggested that there is the need to consult financial experts, industry players, and the regulatory authorities in order to come up with an elaborate plan that would ensure that Bitcoin can be included in the fiscal reserves. This way of cooperation is designed to mitigate possible risks and discuss possibilities of utilizing Bitcoin as an investment vehicle.
Global Recognition of Bitcoin
In a recent post on X, Ng observed that, Bitcoin is slowly but surely gaining acceptance across the globe, and is nicknamed “Digital Gold” because of its value and its ability to act as an inflation hedge.
He said that incorporating the concept of Bitcoin into the framework of strategic fiscal reserves can be beneficial for the economy of Hong Kong as long as there are proper conditions for its regulation.
Former U.S. President Trump recently gave a speech at the U.S. Bitcoin Summit, sharing his views on Bitcoin. Bitcoin and Web3 have already gained the attention and development of countries around the world, and Hong Kong
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