Main to remember
- The business school of the University of Hong Kong plans to accept Bitcoin and digital currencies for tuition fees and donations.
- This decision is aligned with Hong Kong’s efforts to become a virtual asset center in new regulatory executives.
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The business school of the University of Hong Kong (HKU), the best classified institution in Asia, weighs plans to accept Bitcoins and Digital assets for tuition fees and donations, said professor Hongbin Cai, dean of the HKU Business School and president of the economy, at the cryptofi forum this week.
“All the technical details have been paid. We will take bitcoin and digital currencies for tuition fees and donations in the future,” he said, urging support to the initiative.
The school confirmed to the South China Morning Post (SCMP) that it “actively explored” the digital currencies for payments, describing the stage as a demonstration of its opening to financial innovation.
A spokesperson for HKU Business School added that he was determined to create a secure and sustainable framework to stimulate research, innovation, regulations and the adoption of the real world of digital currencies with his partners.
The initiative comes as Hong Kong is actively positioning itself as a world virtual asset center.
Hong Kong Monetary Authority (HKMA) recently launched a stable license granting regime, forcing transmitters of the fiat stables referenced to be authorized by the Securities and Futures Commission. The regime includes strict compliance standards, in particular capital requirements, risk controls, buy-back rights and anti-flowage protocols.
The license entered into force on August 1, the first licenses which should be issued in early 2026.
The founder of Binance, Zhao Changpeng, who attended the HKU forum, previously said that Hong Kong had the potential to become a main virtual hub in competition with the United States and the United Arab Emirates, provided that government deeds.
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