The Hong Kong Monetary Authority (HKMA) has flagged regulation of crypto-assets in the wake of a mass meltdown in global crypto markets since the start of 2022. HKMA Executive Director Edmond Lau said that monetary authorities cannot underestimate challenges in relation to the growth of cryptocurrencies, and that they need to be included in regulatory frameworks. “Growth in crypto-assets is accelerating, and they currently account for around 2% of global financial assets,” said Lau according to local media reports on 24 June. “Because related assets can be used for payments and transactions and their usages are broad, they are tightly...