Public Perception of Virtual Assets and Tokenized Money

30 SURVEY FINDINGS PART II: TOKENIZED MONEY II. EXPLORING REGULATORY DIRECTIONS BASED ON RESPONDENTS’ FEEDBACK CBDC is issued by the Central Bank and so it is regulated. When asked whether the private sector should be allowed to issue stablecoins or tokenized deposits under proper regulation and legislation, 33.92% of respondents agreed, 23.50% disagreed, and 42.57% were neutral. Figure 27. Respondents’ Opinions on Private Sector Issuance of Stablecoins or Tokenized Deposits Do you think private sectors can issue Stablecoin or Tokenized Deposit should proper regulation and legislation are established? 10% 0% 40% 70% 20% 50% 80% 30% 60% 90% 100% 7.35% 5.97% 10.18% 42.57% 20.43% 7.61% 5.88% Currently, conducting transactions involving virtual assets requires going through an intermediary (e.g., Binance, Crypto.com). These intermediaries exchange fiat money (e.g., HKD, Euro) for tokens (e.g., Bitcoin, Ethereum, Tether) that are used to exchange virtual asset tokens on Web3 platforms. These exchanges can also serve as token custodians. Respondents were asked about their perceptions on the reliability and safety of using exchanges for conducting transactions involving virtual assets and serving as custodians of tokens. Almost 35% of respondents expressed distrust, less than 30% felt confident, and approximately 38% were neutral. When asked whether they would feel safe putting money into these exchanges if they were regulated, respondents became significantly more confident. Approximately 20% more respondents indicated they would feel safe to put money into these exchanges that are under proper regulation. 1 3 2 4 7 6 5 (1 = Absolute No ; 4 = Neutral ; 7 = Absolute Yes)