Hong Kong Lawmaker Calls for Crackdown on Cryptocurrency Crimes!

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A Hong Kong lawmaker has issued a warning regarding the use of cryptocurrencies by criminals to promote ‘shitcoins’ and illegally raise funds. The lawmaker has urged regulators to step up and crack down on such activities. He has also suggested the use of the term ‘Digital Asset’ instead of ‘virtual assets’ and cryptocurrency. This move might help to eliminate the negative connotations associated with cryptocurrencies and promote a more positive image, he said. Cryptocurrencies have been a topic of concern across various countries, as their decentralized and anonymous nature makes them a haven for illegal activities.