Hong Kong Government Advises Caution with Distributed-Ledger Technologies
Hong Kong's HKMA says it is premature to make a conclusion on distributed-ledger technology.
During the HKMA Fintech Day, which was held on November 11 in conjunction with Hong Kong Fintech Week, HKMA executive director Shu-pui Li said in his presentation that it is still too early to conclude that DLT is cure-all for financial services.
"There are many issues yet to be addressed," he said. These include governance, deployment, risk management, and regulatory compliance, along with legal implications that have not been adequately taken into account.
He said firms must be prudent and
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