Hong Kong media said the Hongkong government said temporarily regardless of system or prohibiting bitcoin transactions

Hong Kong media said the Hongkong government said temporarily regardless of system or prohibiting bitcoin transactions
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Reuters Hongkong March 25th – Hongkong government said Wednesday that bitcoin (Bitcoin) in Hongkong has not become the widely used medium of payment, the possibility of popularity has a significant impact on the financial system of Hong Kong is not big, so there is no need to introduce new legislation to regulate or prohibit public participation in such virtual goods trading activities.

Earlier Hongkong a bitcoin trading site suddenly ceased operation, a number of investors suspected of cheating. Financial services and the Treasury Secretary Chen Jiaqiang said in reply on the Legislative Council member, bitcoin is not legal tender, its value is not real, the issuer or the real economy support, price volatility is very large, the government has been involved in the transaction to remind the public risk.

But he pointed out that compared to other places, bitcoin development in Hongkong has not become a widely used medium of payment, the circulation in the daily life, so that the business transaction is not worth mentioning are also exchange media, only a handful of businesses that will accept bitcoin as a payment medium.

Chen Jiaqiang said that the nature of bitcoin or other virtual goods and the circulation can not provide enough to become the electronic currency, at best can only be regarded as individuals as speculation of commodities or virtual goods, its popularity on Hongkong’s financial system caused the possibility of significant impact is also limited.

“There is no need to think that the government introduced new legislation to control or prohibit public participation in such virtual goods trading activities. “He said.

Hongkong and most areas there is no safety or effectiveness of virtual goods, such as commodity trading platform or operators to make targeted regulation. However, in order to prevent such virtual goods may be involved such as money laundering and terrorist financing, fraud, pyramid schemes and technology crime and other criminal acts, Hongkong police will be on patrol when necessary, including on the Internet public platform to collect information, if it is found that the material involved in criminal cases, take enforcement action.

Chen Jiaqiang said that the government and financial authorities will closely monitor the development of bitcoin or other virtual goods, and through active participation in relevant international organizations (such as the FATF) meeting, communicate with regulators around the.

Earlier Hongkong a bitcoin trading platform Mycoin suddenly ceased operation, Chen Jiaqiang quoted a police statistics show that since February 11th reported so far, a total of more than 100 people reported, involving an amount of HK $180 million. The police followed by “conspiracy to defraud crime arrested two men and four women, aged 34 to 55 years old, the six people arrested have been released on bail. (end)

(reporter Liang Huiyi; Yang Shuzhen.)

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