Hong Kong crypto group warns new law will restrict people’s access to Bitcoin
Crypto proponents in Hong Kong say incoming cryptocurrency regulations could preclude citizens from using Bitcoin ATMs. The Bitcoin Association of Hong Kong is appealing to regulators to consider the impact of incoming laws on the city’s digital innovation agenda. In November, Hong Kong’s government announced plans to ban retail cryptocurrency trading as part of a broader money laundering crackdown.According to the South China Morning Post on Dec. 24, the proposed crypto regulations could also extend to Bitcoin automated teller machines. In a consultation paper published in November, the....
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Cryptocurrency regulation in Hong Kong is undergoing changes. The Securities and Futures Commission (SFC) is reportedly introducing a new licensing system to regulate all crypto exchanges operating in Hong Kong. Hong Kong’s New Crypto Regulation The CEO of the SFC, Ashley Alder, talked about implementing a new cryptocurrency regulatory framework at Hong Kong Fintech Week on Tuesday. All cryptocurrency trading platforms operating in Hong Kong or targeting local investors will be required to apply for a license with the SFC, Radio Television Hong Kong (RTHK) reported. “Later....
Hong Kong has finally gotten some bitcoin ATMs, and the first of which is making its debut at the Mr. Bing cafe in the central part of the city, according to a press announcement we received. Access to the machine opened at 7:30AM local time on Friday, and it will allow users to use traditional fiat currency to purchase bitcoin in a matter of seconds. Specifically, we're told that the location of the machine was chosen for maximum visibility, "on the Midlevel escalators." The Lamassu-made ATM is being operated by Bitcoin Group HK, a five-member team, each who have been long-term residents....