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Hong Kong Deposit Protection Board Raises Coverage Limit to HK$800,000 in Scheme Overhaul
Hong Kong Deposit Protection Board Raises Coverage Limit to HK$800,000 in Scheme Overhaul
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BTCCSquare news:
The Hong Kong Deposit Protection Board has elevated its safeguard threshold by 60% to HK$800,000, implementing the change across two strategic phases between October 2024 and January 2025. This decisive MOVE aligns with broader financial sector trends toward enhanced consumer protection mechanisms.
Public awareness campaigns accompanying the reforms achieved exceptional penetration, with survey data showing 89% of depositors now understand the Scheme's coverage parameters. The Board's proactive communication strategy included multilingual outreach programs targeting both traditional banking customers and digital asset users.
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