Hong Kong set to Educate the Public on Cryptocurrency and ICO

Hong Kong authorities started a campaign to educate the public on the risks associated with ICO and cryptocurrency investment.

The campaign which kicked off yesterday, January 29th was launched by the government’s Financial Services and the Treasury Bureau (FSTB) and the Investor Education Centre (IEC), a subsidiary of the Securities and Futures Commission (SFC).

This is aimed at offering the public a holistic understanding of ICO and cryptocurrency investment following the recent rise in market interest.

Joseph Chan, the under secretary of the FSTB said: “Through this series of public education initiatives, the government aims to provide the public with a correct and comprehensive understanding of ICOs and ‘cryptocurrencies’, so that they can thoroughly assess the risks before making transactions or investment decisions,”

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Also, the IEC has made ICO- and cryptocurrency-related resources available to the public through its website, called the Chin Family.

The SFC in September last year said tokens issued through ICOs could be regarded and thus regulated as securities. It also stated last month that only licensed firms are allowed to offer bitcoin futures and other cryptocurrency-related financial instruments.

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