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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Investing in Bitcoin and other cryptocurrencies could become more restrictive for residents of Hong Kong as local regulators look to clamp down on the asset class for various reasons. A senior executive for Hong Kong’s Securities and Futures Commission, or SFC, believes more needs to be done to tackle cryptocurrency fraud, offering clues about future guidance on digital asset trading in the special administrative region. Deputy chief executive Liang Fengyi said the SFC is obligated to expand the scope of cryptocurrency supervision in the city-state, especially as it pertains to unlicensed....
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Hong Kong is one of the most important financial centres of the world, but with limited space and high demand, property in Hong Kong has always been in short supply. Simplifying home ownership in Hong Kong is therefore a prime concern for the Hong Kong government, which has undertaken a number of measures in the last few years to make home ownership both affordable and easy. The Nikkei Asian Review reported that as recently as early November, the Hong Kong government raised stamp duty to cool down the boiling Hong Kong housing market. This measure of the government was mainly aimed at....
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....