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Johnny Ng, a member of Hong Kong’s Legislative Council, has announced plans to explore how Bitcoin might benefit Hong Kong’s economy, especially as a protection against inflation. 
Ng recently shared his thoughts on X, emphasizing the importance of considering Bitcoin for strategic fiscal reserves. He believes that, with the right regulations, Bitcoin could strengthen Hong Kong’s financial system. 
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 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 is also actively becoming a hub to promote technological… <a href="https://t.co/e1UFCb6g1q" target="_blank">pic.twitter.com/e1UFCb6g1q</a>— Johnny Ng 吴杰庄 (@Johnny_nkc) <a href="https://twitter.com/Johnny_nkc/status/1817400401416851750?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">July 28, 2024</a>
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He pointed out that Bitcoin’s limited supply and independent nature make it a valuable asset, attracting investors globally. Including Bitcoin in financial reserves could modernize Hong Kong’s financial approach. 
Ng also highlighted the necessity of careful research and regulatory compliance to safely integrate Bitcoin into Hong Kong’s financial reserves. He encourages the government to support technological innovation and create a favorable environment for Web3 development. 
This proposal comes at a time when Hong Kong is making significant strides in digital finance and blockchain adoption, with an evolving regulatory framework aimed at balancing innovation and security. 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 Also Read: <a href="https://www.cryptotimes.io/2024/07/22/asias-first-bitcoin-inverse-etf-launches-in-hong-kong/" target="_blank" data-type="link" data-id="https://www.cryptotimes.io/2024/07/22/asias-first-bitcoin-inverse-etf-launches-in-hong-kong/" rel="noreferrer noopener">Asia’s First Bitcoin Inverse ETF To Launch in Hong Kong</a> 
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Hong Kong Legislator Proposes Bitcoin for Financial Reserves

The Crypto Times

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