Hong Kong University Explores Accepting Bitcoin For Fees Payment
The enterprise faculty of the College of Hong Kong (HKU) is now contemplating accepting Bitcoin and different digital belongings for donation and fee of tuition charges. This growth comes a month after the Hong Kong Stablecoin Ordinance went into impact on August 1, according to the Asian-nation state’s dream of changing into a worldwide digital asset hub.
Let’s Give Bitcoin A Probability, HKU Professor Says
In line with the native media information outlet South China Morning Post, Professor Cai Hongin, the Dean of the Enterprise Faculty at HKU, expressed the establishment’s readiness to discover the suitability of Bitcoin and different cryptocurrencies as a type of fee.
Whereas talking on the CryptoFi Discussion board on Wednesday, August 27, the distinguished Chair of Economics and Director of the Institute of China Economic system known as for the related stakeholders to assist this fee program on the Hong Kong College Enterprise Faculty. Professor Hongin mentioned:
All of the technical particulars have been sorted out. We are going to take bitcoin and digital currencies for tuition charges and donations sooner or later; If we lose cash, we can be dropping the cash of the college … It’s okay, we will deal with it, however at the least allow us to give it a strive.
In the meantime, an official assertion from an HKU Enterprise Faculty spokesperson on Friday, August 30, confirmed Hongin’s assertion establishment was certainly “actively exploring” the incorporation of cryptocurrencies as a price fee possibility. The assertion learn:
HKU Enterprise Faculty is devoted to making a safe and sustainable setting for advancing analysis, growth, regulation, and sensible adoption of digital currencies in collaboration with our companions.
Hong Kong’s Bid To Change into A World Chief In Digital Belongings
As earlier said, the Hong Kong authorities continues to double down on its ambition of building a powerful crypto-friendly and enabling setting within the nation-state. In Might, lawmakers handed the Stablecoin Ordinance, which formally got here into impact on August 1, establishing a statutory framework for fiat-backed stablecoins. The regulation covers all the things from issuance and reserves to secondary-market actions, guaranteeing that operators with a Hong Kong nexus meet strict licensing and compliance requirements.
On the similar time, the Securities and Futures Fee (SFC) has tightened guidelines for licensed crypto exchanges, mandating stronger custody measures akin to chilly pockets controls and real-time menace monitoring to guard traders’ pursuits. Whereas the Hong Kong Financial Authority (HKMA) has warned in opposition to speculative frenzy, the federal government’s proactive stance indicators its intent to rival Singapore, the USA, and Dubai as a trusted, regulated middle for digital belongings.
