Beware Of Crypto-currencies:Democratic Party
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2019-03-10 HKT 18:13
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The Democratic Party is urging people to be cautious when they're invited to invest in virtual currencies.
The party says it's received complaints from more than a dozen people who claim to have lost a total of HK$1.7 million because they were persuaded to invest in a form of crypto-currency called after being promised high returns.
Democratic Party member Ramon Yuen has been helping the complainants, and said many people were unfamiliar with the details of crypto-currencies
"They may just use investing (in) stocks as a comparison," Yuen said.
However, he warned that this was "naive" because stocks or bonds or property were regulated by the Hong Kong government so investors had protection - unlike crypto-currencies.
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