{"id":51316,"date":"2024-07-29T01:05:00","date_gmt":"2024-07-29T01:05:00","guid":{"rendered":"https:\/\/cointelegraph.com\/news\/hong-kong-bitcoin-financial-reserves-web3-development"},"modified":"2024-07-29T06:04:49","modified_gmt":"2024-07-29T06:04:49","slug":"hong-kong-legislator-eyes-bitcoin-for-fiscal-reserves","status":"publish","type":"post","link":"https:\/\/emilynews.com\/blog\/?p=51316","title":{"rendered":"Hong Kong legislator eyes Bitcoin for fiscal reserves"},"content":{"rendered":"

<\/p>\n

Hong Kong Legislative Council Member Johnny Ng has announced plans to collaborate with various stakeholders to assess the feasibility and potential benefits of incorporating Bitcoin into the special administrative region\u2019s financial reserves.<\/p>\n

In a recent post on X, Ng\u00a0emphasized the increasing global recognition of Bitcoin (BTC), often dubbed \u201cdigital gold\u201d due to its perceived value and potential as a hedge against inflation.<\/p>\n

He highlighted the importance of considering Bitcoin\u00a0in strategic fiscal reserves, suggesting that its inclusion could benefit Hong Kong\u2019s economic framework under the right regulatory conditions.<\/p>\n

Bitcoin and Web3 for development<\/h3>\n

Wu’s comments come when Bitcoin and Web3 technologies are gaining traction worldwide. The decentralized nature of Bitcoin, along with its limited supply, has positioned it as a valuable asset in the eyes of many investors.<\/p>\n

\"\"
Source:Johnny Ng<\/a><\/em><\/figcaption><\/figure>\n

Ng pointed out that the global awareness of Bitcoin is increasing, making it a crucial element in the discourse on digital assets and their integration into traditional financial systems. The legislator\u2019s initiative is part of a broader effort to accelerate the development of the Web3 ecosystem in Hong Kong.<\/p>\n

Related: <\/em><\/strong>Stablecoin pegged to Hong Kong dollar unveiled<\/em><\/strong><\/p>\n

Web3 represents the next generation of internet technologies, focused on decentralization, blockchain and peer-to-peer interactions. Ng believes that Hong Kong is at a pivotal stage in regulatory compliance and industry development, which could pave the way for a more open and innovative market environment.<\/p>\n

Strategic fiscal reserves and compliance<\/h3>\n

Ng acknowledged in his proposal that thorough research and compliance with existing regulations are essential to ensure the strategic and secure integration of Bitcoin into Hong Kong\u2019s fiscal reserves.<\/p>\n

His proposal came in response to United States Republican Party presidential nominee and former President\u00a0Donald Trump\u2019s speech at the Bitcoin 2024 conference on July 27.<\/p>\n

Beyond Bitcoin, Ng\u2019s vision for Hong Kong includes a robust and dynamic Web3 ecosystem. He urged the government to focus on technological innovation and build a supportive environment for Web3 development.<\/p>\n

Ng\u2019s advocacy is timely, as Hong Kong has made strides in digital finance and blockchain adoption. The region\u2019s regulatory framework is evolving to accommodate these new technologies, aiming to balance innovation and security.<\/p>\n

Magazine: <\/em><\/strong>Saudi Arabia\u2019s Riyadh may be crypto\u2019s sleeping giant: Crypto City Guide<\/em><\/strong><\/p>\n

Check other news for today<\/span> and Please stand by..<\/p>\n

*********************************<\/p>\n

If one of the paying programs on our Monitor appeals to you, please support EmilyNews<\/em> by registering for it on our website. Thanks very very much!<\/p>\n

EN web Support Chat<\/strong> | Hyips and Crypto questions \u2013 HyipChatEN<\/a><\/strong><\/p>\n

Telegram Chat for Crypto and Hyip reports: @HyipChatEN<\/a><\/strong><\/p>\n

*********************************<\/p>\n

Be the first to get most important HYIP news everyday!
\nSimply Follow EN Facebook<\/strong><\/a>, EN Telegram<\/strong><\/a>, EN Twitter<\/strong><\/a>
\nor Subscribe to EN Feedburner<\/a><\/strong> and submit your email address!<\/p>\n

If you like this article and want to support EN \u2013 please share it by using at least few of social media buttons below. Thanks and See you tomorrow!<\/p>\n

\"\"<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Hong Kong Legislative Council Member Johnny Ng has announced plans to collaborate with various stakeholders to assess the feasibility and potential benefits of incorporating Bitcoin into the special administrative region\u2019s financial reserves. In a recent … Hong Kong legislator eyes Bitcoin for fiscal reserves<\/span>Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":51320,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5651],"tags":[139,3812,5652,159,6693],"class_list":["post-51316","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptonews","tag-bitcoin","tag-cryptonews","tag-emilynews","tag-hyipnews","tag-moneyonline","exalt-entry"],"yoast_head":"\nHong Kong legislator eyes Bitcoin for fiscal reserves - EmilyNews<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/emilynews.com\/blog\/?p=51316\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Hong Kong legislator eyes Bitcoin for fiscal reserves - EmilyNews\" \/>\n<meta property=\"og:description\" content=\"Hong Kong Legislative Council Member Johnny Ng has announced plans to collaborate with various stakeholders to assess the feasibility and potential benefits of incorporating Bitcoin into the special administrative region\u2019s financial reserves. In a recent … Hong Kong legislator eyes Bitcoin for fiscal reservesRead more\" \/>\n<meta property=\"og:url\" content=\"https:\/\/emilynews.com\/blog\/?p=51316\" \/>\n<meta property=\"og:site_name\" content=\"EmilyNews\" \/>\n<meta property=\"article:published_time\" content=\"2024-07-29T01:05:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-07-29T06:04:49+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/emilynews.com\/blog\/wp-content\/uploads\/2024\/07\/btc-3.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"747\" \/>\n\t<meta property=\"og:image:height\" content=\"497\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Emilynews\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Emilynews\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/emilynews.com\/blog\/?p=51316\",\"url\":\"https:\/\/emilynews.com\/blog\/?p=51316\",\"name\":\"Hong Kong legislator eyes Bitcoin for fiscal reserves - EmilyNews\",\"isPartOf\":{\"@id\":\"https:\/\/emilynews.com\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/emilynews.com\/blog\/?p=51316#primaryimage\"},\"image\":{\"@id\":\"https:\/\/emilynews.com\/blog\/?p=51316#primaryimage\"},\"thumbnailUrl\":\"https:\/\/emilynews.com\/blog\/wp-content\/uploads\/2024\/07\/btc-3.jpg\",\"datePublished\":\"2024-07-29T01:05:00+00:00\",\"dateModified\":\"2024-07-29T06:04:49+00:00\",\"author\":{\"@id\":\"https:\/\/emilynews.com\/blog\/#\/schema\/person\/d198218498e05856be72796eea940a33\"},\"breadcrumb\":{\"@id\":\"https:\/\/emilynews.com\/blog\/?p=51316#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/emilynews.com\/blog\/?p=51316\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/emilynews.com\/blog\/?p=51316#primaryimage\",\"url\":\"https:\/\/emilynews.com\/blog\/wp-content\/uploads\/2024\/07\/btc-3.jpg\",\"contentUrl\":\"https:\/\/emilynews.com\/blog\/wp-content\/uploads\/2024\/07\/btc-3.jpg\",\"width\":747,\"height\":497},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/emilynews.com\/blog\/?p=51316#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/emilynews.com\/blog\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Hong Kong legislator eyes Bitcoin for fiscal reserves\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/emilynews.com\/blog\/#website\",\"url\":\"https:\/\/emilynews.com\/blog\/\",\"name\":\"EmilyNews\",\"description\":\"EmilyNews Blog\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/emilynews.com\/blog\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/emilynews.com\/blog\/#\/schema\/person\/d198218498e05856be72796eea940a33\",\"name\":\"Emilynews\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/emilynews.com\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/080b41979dac9ab029c0867a1655bdaf?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/080b41979dac9ab029c0867a1655bdaf?s=96&d=mm&r=g\",\"caption\":\"Emilynews\"},\"url\":\"https:\/\/emilynews.com\/blog\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Hong Kong legislator eyes Bitcoin for fiscal reserves - EmilyNews","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/emilynews.com\/blog\/?p=51316","og_locale":"en_US","og_type":"article","og_title":"Hong Kong legislator eyes Bitcoin for fiscal reserves - EmilyNews","og_description":"Hong Kong Legislative Council Member Johnny Ng has announced plans to collaborate with various stakeholders to assess the feasibility and potential benefits of incorporating Bitcoin into the special administrative region\u2019s financial reserves. In a recent … Hong Kong legislator eyes Bitcoin for fiscal reservesRead more","og_url":"https:\/\/emilynews.com\/blog\/?p=51316","og_site_name":"EmilyNews","article_published_time":"2024-07-29T01:05:00+00:00","article_modified_time":"2024-07-29T06:04:49+00:00","og_image":[{"width":747,"height":497,"url":"https:\/\/emilynews.com\/blog\/wp-content\/uploads\/2024\/07\/btc-3.jpg","type":"image\/jpeg"}],"author":"Emilynews","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Emilynews","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/emilynews.com\/blog\/?p=51316","url":"https:\/\/emilynews.com\/blog\/?p=51316","name":"Hong Kong legislator eyes Bitcoin for fiscal reserves - EmilyNews","isPartOf":{"@id":"https:\/\/emilynews.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/emilynews.com\/blog\/?p=51316#primaryimage"},"image":{"@id":"https:\/\/emilynews.com\/blog\/?p=51316#primaryimage"},"thumbnailUrl":"https:\/\/emilynews.com\/blog\/wp-content\/uploads\/2024\/07\/btc-3.jpg","datePublished":"2024-07-29T01:05:00+00:00","dateModified":"2024-07-29T06:04:49+00:00","author":{"@id":"https:\/\/emilynews.com\/blog\/#\/schema\/person\/d198218498e05856be72796eea940a33"},"breadcrumb":{"@id":"https:\/\/emilynews.com\/blog\/?p=51316#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/emilynews.com\/blog\/?p=51316"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/emilynews.com\/blog\/?p=51316#primaryimage","url":"https:\/\/emilynews.com\/blog\/wp-content\/uploads\/2024\/07\/btc-3.jpg","contentUrl":"https:\/\/emilynews.com\/blog\/wp-content\/uploads\/2024\/07\/btc-3.jpg","width":747,"height":497},{"@type":"BreadcrumbList","@id":"https:\/\/emilynews.com\/blog\/?p=51316#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/emilynews.com\/blog"},{"@type":"ListItem","position":2,"name":"Hong Kong legislator eyes Bitcoin for fiscal reserves"}]},{"@type":"WebSite","@id":"https:\/\/emilynews.com\/blog\/#website","url":"https:\/\/emilynews.com\/blog\/","name":"EmilyNews","description":"EmilyNews Blog","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/emilynews.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/emilynews.com\/blog\/#\/schema\/person\/d198218498e05856be72796eea940a33","name":"Emilynews","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/emilynews.com\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/080b41979dac9ab029c0867a1655bdaf?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/080b41979dac9ab029c0867a1655bdaf?s=96&d=mm&r=g","caption":"Emilynews"},"url":"https:\/\/emilynews.com\/blog\/?author=1"}]}},"_links":{"self":[{"href":"https:\/\/emilynews.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/51316","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/emilynews.com\/blog\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/emilynews.com\/blog\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/emilynews.com\/blog\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/emilynews.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=51316"}],"version-history":[{"count":1,"href":"https:\/\/emilynews.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/51316\/revisions"}],"predecessor-version":[{"id":51321,"href":"https:\/\/emilynews.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/51316\/revisions\/51321"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/emilynews.com\/blog\/index.php?rest_route=\/wp\/v2\/media\/51320"}],"wp:attachment":[{"href":"https:\/\/emilynews.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=51316"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/emilynews.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=51316"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/emilynews.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=51316"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}