The former head of the Hong Kong central bank says that crypto will not destroy traditional finance – and that volatility will hold back the progress of many cryptoassets.
Norman Chan, the former Chief Executive of the Hong Kong Monetary Authority (HKMA), was speaking in an interview with the 21st Century Business Herald. Chen said cryptoassets like bitcoin (BTC) could never become “currencies” because they “have no intrinsic value and their prices fluctuate too much.”…
Read More: Crypto Won’t Destroy Tradfi, Says Ex-Hong Kong Central Bank Chief