Hong Kong Financial Secretary: Considering Replacing "Virtual Assets" with "Electronic Currency, Electronic Assets"

Hong Kong Legislative Council member Duncan Chiu has called for the term "virtual assets" to be renamed "digital assets." In response, Hong Kong's Secretary for Financial Services and the Treasury, Christopher Hui, agreed that the term "virtual assets" might be misunderstood by the public. He stated that the Hong Kong government currently uses "electronic currency" and "electronic assets" in its promotions. Although the terminology in the current legislation has not been amended, it will be revised in the future.