Hong Kong Business School Plans to Accept Bitcoin for Tuition Payments
The University of Hong Kong (HKU) Business School plans to accept Bitcoin and other digital assets for tuition fees and donations. This initiative was announced by Professor Hongbin Cai during the CryptoFi Forum.
Key points include:
- Technical details for implementing the payment system have been finalized.
- HKU aims to create a secure framework for research and regulation of digital assets in partnership with industry leaders.
- Changpeng Zhao of Binance noted Hong Kong's potential as a major crypto hub, contingent on continued regulatory progress.
- The Hong Kong Monetary Authority has introduced a stablecoin licensing framework effective August 1, 2023, requiring issuers to meet strict compliance rules.
- Professor Cai acknowledged financial risks but emphasized the importance of experimentation with cryptocurrency payments.
The outcome of HKU's adoption of cryptocurrencies could influence capital inflow and enhance Hong Kong’s reputation as a financial center.