Hong Kong lawmaker Johnny Ng has raised concerns about the city's government's approach to Bitcoin in light of its increasing global importance. Ng questioned if the government is considering integrating digital assets like Bitcoin into its investment strategy, particularly in the Exchange Fund managed by the Hong Kong Monetary Authority. He also highlighted the potential impact of other countries treating Bitcoin as a strategic reserve asset on Hong Kong's economic stability. Despite acknowledging the benefits of blockchain technology, officials aim to balance regulatory frameworks to address risks related to financial stability and investor protection. The government plans to foster responsible innovation while maintaining Hong Kong's position as a leading financial hub. Additionally, the article discusses Hong Kong's stablecoin framework, US crypto inflows, NFTs, and the rise of Bitcoin phishing scams. Read more AI-generated news on: https://app.chaingpt.org/news

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