HK

only_a_lurker

Dude did you even look at the map you provided? At least ten of them are from the same toy store chain lol. Half are crypto desks and ATMs. I fucking live here and no one takes crypto as payment it's not widespread. Even if there were 50 businesses taking crypto you better check out how many businesses are in Hong Kong. Do you even know anything about HK? The only thing people are doing in HK with crypto is speculating and scamming people.

only_a_lurker

Lol this is no where near "quite a few", you probably won't be able to find these shops even with a map. No you won't be able to find many stores accepting ANY kind of crypto in HK. If you mean cashing out then yes you can find these physical desks but they don't rely on tron.

only_a_lurker

I'm from Hong Kong and I am not aware of any places that accept Tron USD as payment. Where did you go in HK to pay with this shit coin?

Rey_Mezcalero

Wonder if he got blinded at that HK party

TheGreatMuffin

https://web.archive.org/web/20220822102714/https://www.reddit.com/r/Bitcoin/comments/jycf9x/bitcoin_privacyanonymity_explained_for_newcomers/ > Why should you care about privacy and other considerations > > This part is more subjective, it is my personal opinion. > > Some people will tell you that “you don’t need privacy if you don’t have anything to hide” but I disagree. Think about your email account, you probably don’t have anything incriminating in there, but I assume you wouldn’t want it to be public for everyone to know who you send emails to and what are your preferences, right? It is just your right to mind your own business and nobody should know anything about it if you don’t want to reveal it or if there isn’t any reasonable proof of illegal activities. > > Well then think about that through for a second: monetary transactions are much more important than emails, reveal a lot more like of how much wealth you have and what you spend it on and who do you transact with. Are you sure you want this information to be public and linked to your identity? > > We are very used to using a peer to peer transfer of money which is absolutely anonymous, which is cash. Don’t you think we should be able to transact in the same way but electronically? Do we really have to put up with a Big Brother system that is controlling every single transaction we do? (like it’s the case with the current banking system?) > > Maybe you come from a country where there are less liberties, where you may be prosecuted if you give money to certain causes. Guess what happened to some bank accounts that were accepting donations to support protests in Hong Kong (were closed and owners identified). HK protesters were also accepting Bitcoin but what if you live in China or HK and donated in Bitcoin thinking you are anonymous but you did with an address linked to your identity? Well suddenly you made yourself a target. This is why I’m writing this post, so people stop assuming they are anonymous when using Bitcoin. You can have a decent degree of anonymity but it requires a bit of work and being careful and you should be aware of it. Assuming you are anonymous when you are not is dangerous! > > There are some instances where it may not be worth for you to increase your privacy. If the purpose is to buy some Bitcoin in an exchange, have it maybe in a hardware wallet for cold storage and back to the exchange to sell at a future point, maybe it is not necessary for you to anonymise your BTC. > > A common question is whether an exchange can consider any Bitcoin coming from a Coinjoin tainted. Personally, I have sent Bitcoin to Coinbase after a Coinjoin multiple times and there wasn’t any problem. However, it is a possibility in the future. But I still think it’s ok for a reason: exchanges can just go a number of hops behind when analysing where a transaction comes from. Meaning when accepting incoming transactions they may say “has this been in any tainted activity in the last 5 hops?” so if it is the case you can avoid this blacklisting by just sending to yourself between addresses multiple times, at least more than 5 or whatever is the criteria of the exchange. > > An exchange cannot analyse say the previous 20 hops because then they would go out of business, virtually all BTC has been in a Coinjoin or questionable address if you go that far back. And it wouldn’t be an issue to add 50 or 100 hops if you wanted to. Therefore I think if it is the case in the future and exchanges are a bit tighter in this regard, it will just be a game of cat and mouse and will be completely pointless. > Also by transacting in your Bitcoin anonymously you are also helping strengthen it. Fungibility (the fact that each coin is the same regardless of its history) is a great quality of money and is a weak point of Bitcoin in particular. So every time you are performing a Coinjoin or transacting anonymously in other ways you are also making Bitcoin a better form of money and store of value. > > Anyway, it is up to you to decide how much do you value your privacy, but at least I hope you have a better understanding of the tools and ways to improve it.

M4roon

I've been hearing bullish noises out of HK and bearish noises out of China for like two years now. At this point I won't believe anything comes of the asian market until it actually happens.

letsdrinktothat

Interesting! I searched that case, it seems the HK government filed 15 lawsuits against three contractors involved, and also fraud charges against three individuals at one of those companies. So it sounds like HK comes down pretty hard on that stuff.

superduperdude92

CC Daily Thread Comment Count Day|Count :--|:--| Oct 31|1115| Nov 01|1662| Nov 02|962| Nov 03|854| Nov 04|598| Nov 05|650| Nov 06|864|   Month|Count :--|:--| Sep|249584 Oct|182418 Nov|5644   * The 30 day average for comments is currently sitting at 4200 * See [here](https://i.imgur.com/HK49mHr.png) for a broader overview.

gonandunandidathing

Anyone have experience trading at OTC exchanges in Hong Kong? Is Crypto HK any good? Traveling there soon and looking to avoid insane ATM withdrawal fees by exchanging some crypto for cash.

wayfarer8888

About a dozen times already. Getting boring with 🇨🇳. While HK is becoming a crypto hotbed.

LedgerCli

You are mistaken. First, they have no license to serve US or EU clients. Meaning they need to reject those clients’ funds. Second, since they have no license they are not allowed to conduct AML check or to hold clients’ funds. This is the law in Europe and in the US. The fact they opened an HK entity and took 10k offshore license, doesn’t make it legal. Those companies want you to file a lawsuit and fight with them in court, but better to submit police complaint in a strong country like Germany and let the local prosecutors to run after them since they have much more resources to find them and make their life a nightmare. Starting from finding their banks and block them and proceeding with extradition requests to clarify the allegations. In addition, it’s always better to go after their current and past directors, shareholders and employees rather than the company itself which is an empty entity.

RicardaBlakely

not sure how they manage to keep their HK license, but yes, ive never been asked KYC from BITCOKE the GOAT exchange

ArtoriusFrost

It is interesting to note that Beijing is also pushing for a digital Yuan but 3% of HK’s population is investing into Crypto.

coinfeeds-bot

tldr; The article discusses the allegations against cryptocurrency platform JPEX, which is at the center of a HK$1.5 billion fraud scandal. A Hong Kong YouTuber, Leo, shares his experience of being beaten up after posting a video expressing suspicions about JPEX. Leo believes the attack was related to his video. He stopped discussing JPEX after the incident. Leo and other influencers in the cryptocurrency community have called for investor education to prevent falling victim to fraud. The article highlights the need for caution and education in the cryptocurrency world. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

Pibo1987

The article states that it was 3.5m in HK currency, around 450k in UD$

coinfeeds-bot

tldr; Scammers have stolen HK$446,835 from 11 Binance accounts in the last two weeks through phishing attacks. The attackers sent phishing text messages to Binance users, asking them to click on a link for identity verification. The victims were then tricked into providing their account details, including passwords, which were used to steal virtual assets from their accounts. Hong Kong police have urged investors to use licensed cryptocurrency exchanges for better protection. Only two platforms, OSL Digital Securities Limited and Hash Blockchain Limited, have been licensed to serve in Hong Kong. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

Pibo1987

Basically anywhere but North America. I hope MiCA in Europe will be beneficial for the whole industry, and Asia (HK, Singapore) seems to be going strong

MaximumStudent1839

Everyone should pay attention they are investing in EQUITY, not in NFTs or tokens. It is a perfect setup for the fund to benefit even if projects rug. If you have been on ETH long enough, you realize HK projects ends up as rugs 99%z

Br0xigar

Let’s go HK. Some countries need to learn.

GreedVault

The real potential of HK will be unlocked once China allows crypto. Now it's just the appetiser before the main course.

Kessaveli

So at the height of to next bull run they’ll just ban it again. But only on the mainland. I surmise HK is different for them.

Abject-Government-13

China actually recognizes Bitcoin as an official currency. The Shanghai people court 2 announced this finding recently. Many of the leaders in HK have direct involvement in CCP leadership as well.

stockyewok

HK will become the Crypto capital with the financial backing of the Chinese government, but Singapore's regulations look pretty favourable so they'll definitely have competition in Asia for the top seat

ArchmageXin

Or Europe, or Canada, or Aus, probably not Japan or South Korea as well. Pretty much any of the western alliance nations. Hell, even China is not safe if he isn't careful. CIA have renditioned folks straight from HK.

stockyewok

Asia is the place to be if your into Crypto. Singapore, S.Korea, HK, Vietnam, Japan all are investing heavily. Helalabs just started a layer 1 in Singapore that they want to make mainstream which I'm bullish about.

Olladouis_Goofoff

Patrick Bateman works for the SEC these days, doesn't he? [https://youtu.be/DmtO0HK2NIg?si=COwxToGhWpWb7wvb](https://youtu.be/DmtO0HK2NIg?si=COwxToGhWpWb7wvb)

stockyewok

Asia is the place to be if u love Crypto. Philippines bullish with Crypto just like Singapore, S.Korea, HK, Vietnam, Thailand, Taiwan etc Their exchanges will start getting bigger and taking over the whole pot if the US don't catch up with friendlier Crypto regulations

Podsly

I haven't had one of those pig butchering scams in a while. I used to get them on Tinder. One girl was talking to me for a few weeks, trying to get me to download some trading software or teach me trading online. I was very skeptical. I had met a long of asian girls on tinder with clothing businesses in HK/taiwan or some other similar story. It got to the point where i can recognise them via the first couple of sentences they said. Now i can recognise them just by looking at their profile pictures. They really hate it when you ask them specific questions about where they live. Because they don't know the answers.

OMFGROFLMAO2

>China pledged to preserve much of what makes Hong Kong unique when the former British colony was handed over more than two decades ago. Beijing said it would give Hong Kong fifty years to keep its capitalist system and enjoy many freedoms not found in mainland Chinese cities. This premise is much needed when talking about China and HK

Bandit_Quick

To add..Hong Kong reopened for crypto a few weeks back. If Mainland shifts course again I predict 3 months later HK will be out.

Affectionate_Hand_76

1. Reddit launches Reddit Contributor program, available to US Citizens. 2. HTX, hacked this weekend for $7.9 million. 3. Ethereum co-founder Vitalik Buterin sends 400 ETH, worth approximately $600,000, to Coinbase. 4. Mixin Network, HK based decentralized cross-chain transfer protocol discloses $200 million hack. Deposits & withdrawals suspended. 5. Crypto market crabs to new range. MOON’s below 0.30, BTC below 26.5 K & ETH at 1580. Notable Financial Dates Coming Up: * September 27 - Moons snapshot. * September Jobs Data: October 06. * October 13 - SEC deadline to appeal against Grayscale spot ETF. * October 16 - SEC deadline to file response against Bitwise Bitcoin ETP trust.

BlazedAndConfused

This wont bode well for an already tight lockdown on crypto for HK. After all the hacks the US sees, it only pushes aggressive legislature further and faster which ends up doing more harm than good. Goes to show you, nothing in crypto is ever 'safu'

InsaneMcFries

Regulation by enforcement in HK too? Or will it be reasonable at least?

lovelybittabusiness

HK is a part of China yes but they have two systems, the China imposed system and their own autonomous system I wouldn't be betting on better regulations from china tbh. Chinese government control absolutely everything in China and decentralisation means that isnt possible with real, fairly launched blockchains.. but we'll see

stockyewok

HK has been part of China for 25 years now, but your right about China not bringing out the same regulations, but they'll probably be better regulations than the US

Cryptosockies

HK is awesome but its in the tight grip of China which is worriesome.

stockyewok

Increased transparency and clear regulation can only be good for Crypto. HK might take over Singapore as the Asian Crypto Capital

stockyewok

Singapore, S.Korea, HK, Vietnam all are working towards more friendly regulations for Crypto and integrating it into the mainstream. Asia will rule crypto

stockyewok

Must include HK and Macau, because I've seen a few articles with online casinos out of Macau

ChonkMeow

>A reliable source disclosed that authorities have successfully frozen some cryptocurrencies linked to the fraud. Nevertheless, efforts are ongoing to recover the funds and bring the individuals responsible for the scam to justice. Seems like the authorities in HK is proactively trying to curb scam related to crypto. This is a good sign considering how HK is rather open to crypto adoption.

MarcusStoic

Hi Daily! Here are some major news in Crypto today: 🌕 Binance and CEO, CZ, seek to dismiss the SEC lawsuit, citing overreach and accusing the regulator of distorting securities laws. 🌕 Coinbase may launch a token for Layer 2 network Base, with its legal chief seeing it as a future possibility despite initial reluctance. 🌕 Coinbase aimed to acquire FTX Europe post-bankruptcy to expand its derivatives, but the deal was dropped. Other firms also showed interest. 🌕 Bybit to suspend UK services from Oct due to new FCA rules, halting new accounts from Oct 1 and full services by Oct 8. 🌕 CoinShares is launching a hedge fund unit in the U.S. to offer qualified investors actively managed exposure to digital assets. 🌕 Bankrupt FTX sues ex-employees of its HK affiliate for $157M over alleged fraudulent withdrawals ahead of its bankruptcy filing. 🌕 Google Cloud's BigQuery now supports 11 more blockchains, enabling intricate on-chain queries and integration with various applications. 🌕 Dreamus debuts Avalanche NFT tickets in S. Korea for events like K-pop concerts via SK Planet's OK Cashbag app, curbing scalping issues. 🌕 Apecoin DAO to allocate $12.5M in ApeCoins to DAM for acquiring Yuga NFTs and launch $DAM token for governance and staking. 🌕 Circle renames USD Coin and Euro Coin stablecoins to USDC and EURC to streamline naming and avoid confusion.

WineMakerBg

Yeah, look how quickly HK police acted on JPX. Legit projects have nothing to fear of, but as we see, most projects do the cash grab trick and try to disappear.

Impossible-Injury932

I would think so, especially Hong Kong , South Korea and Japan. New BTC spot in Japan and good news OP in HK.

stockyewok

This is so true, Singapore, S.Korea, HK, Bhutan and many other Asia countries are pro crypto

coinfeeds-bot

tldr; Hong Kong police are investigating allegations of fraud against cryptocurrency trading platform JPEX after investors complained of HK$1.3bn ($166m; £134m) in losses. Eleven people, including popular influencers, were arrested this week after complaints filed by 2,000 people. The case could be one of Hong Kong's biggest fraud cases, local media say. The platform has also said it is working to resolve a "liquidity shortage" as some users have complained that they are unable to withdraw their funds. Hong Kong Chief Executive John Lee said regulators will "monitor the situation very closely and ensure that investors are sufficiently protected". *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

coinfeeds-bot

tldr; Hong Kong police are investigating allegations of fraud against cryptocurrency trading platform JPEX after investors complained of HK$1.3bn ($166m; £134m) in losses. Eleven people, including popular influencers, were arrested this week after complaints filed by 2,000 people. The case could be one of Hong Kong's biggest fraud cases, local media say. The platform has also said it is working to resolve a "liquidity shortage" as some users have complained that they are unable to withdraw their funds. Hong Kong Chief Executive John Lee said regulators will "monitor the situation very closely and ensure that investors are sufficiently protected". *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

InsaneMcFries

They want to maintain control over their wider population while using HK as their ticket into the industry to trade with the rest of the world

stockyewok

Yep, S.Korea, Singapore, Taiwan, HK, nearly all of Asia are doing everything to make Crypto mainstream

coinfeeds-bot

tldr; The financial toll in Hong Kong's cryptocurrency scandal has reached HK$1.2 billion (US$154 million), making it the largest financial fraud case in the city's history. The case involves over 1,600 investors who fell victim to alleged fraud by JPEX, a cryptocurrency company. The investors were mostly inexperienced and were lured by promises of high yields. JPEX had actively promoted its products through social media influencers and falsely suggested that it had applied for a cryptocurrency trading platform license in Hong Kong. The case highlights the risks faced by retail investors in the cryptocurrency space and the need for due diligence by event organizers and regulators. Hong Kong has recently started regulating the cryptocurrency sector and has ramped up investor education efforts. The regulatory clampdown on JPEX may benefit licensed firms in the industry. The investigation is ongoing, and more arrests have not been ruled out. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

Silver-dutch

“The financial toll in Hong Kong’s cryptocurrency scandal has risen to HK$1.2 billion (US$154 million) involving more than 1,600 investors, making it the single largest financial fraud case in the city’s history and exposing risks faced by local retail investors amid a government push to transform the global financial centre into a virtual asset hub.” So much damage , so bad for further adoption, regulations is truly needed

Sorrytoruin

That's always the risk, but I think China wants HK as a hub, so I don't see it being to harsh

changhuanese

Could you elaborate it? Why wouldnt last long in HK?

Remyleboo99

I think this is a good thing. HK seems to be taking its stance on getting legitimate crypto exchanges up and running and cracking down on illegal dodgy ones.

InsaneMcFries

It’s China’s perfect puppet to interact with the rest of the world. They can do whatever they want in the mainland while still trading and building a hub in HK

bull_bear25

China has renewed it's efforts to make China a hotbed for Web3 and crypto. After denial of many many years. CCP has changed its policies and toned down its opposition to Web3 Hong Kong is administratively out of China and it's already strong centre for Financial world. China is trying to make HK a web3 centre

ChonkMeow

HK, SG, SK and JP are leading the charge for mass adoption in Asia. Their regulations are not as hostile as the U.S

Silver-dutch

“Hong Kong police have received 83 complaints on JPEX involving HK$34 million ($4.3 million), according to a media report, citing police commissioner Raymond Siu on Saturday. JPEX is headquartered in Dubai, according to its website.” Another day, another red flag

WineMakerBg

HK needs to invite him on a one week tour - LP will not resist the temptation and do sth stupid. Work done.

Bubbly_Friendship_22

HK doing work.

WineMakerBg

HK police does not fool around. They skipped shitfluencers and went to hunt celebrities first.

coinfeeds-bot

tldr; Hong Kong police have arrested a well-known internet celebrity for allegedly promoting the fraudulent crypto exchange JPEX. The arrest comes after receiving over 83 reports against JPEX, involving a total of HK$34 million. This arrest is significant in Hong Kong's fight against crypto-related fraud. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

Abject-Government-13

I've read there is more than a couple of billion on JPEX. This is not a small amount. It looks like there were warning signs given by the HK government. Is there anyway around the withdraw limitiation? Could you send to another wallet? Can you spend it on something? Could you hire someone to withdraw it for you? What options might one have besides waiting for JPEX theives and top creditors to take it.

loksfox

These warnings are coming because of JPEX, an cryptocurrency exchange named in 83 complaints to Hong Kong police over virtual assets worth HK$34 million in this past week alone, they had advertised 30% apr on a stablecoin and now they are asking for $1000 withdrawal fee.

InsaneMcFries

Funny that they warn of crypto firms using banking terms in HK, while the US is busy using banking/stock market laws to prosecute crypto firms.

Practical-Store9603

Oh I love the HK finnish sausages😋

tambaybtc

It is the risk of China influence HK to change it is current flexibility and ban crypto.

ablablababla

HK seems just as safe as ever now from what I could tell

SqrHornet

Sadly mainland China does everything to take more and more control over HK. That makes it hardly a stable place for crypto development and longterm acceptance

citruspers2929

Singapore here. There are a lot of expats, so a lot of people who invest in different ways to how they might have at home because how they invested before might not be an option whilst abroad. I guess that HK/Dubai would be very similar.

TR5_

Globally, countries are vying to become crypto hubs. Regulatory clarity has emerged in the EU, UAE, China (HK), Singapore, Australia and Canada, to name a few.

elidevious

Ok…I guess if you consider the citizens of HK and Macau having access, then yes. But the 1.4 billion mainland Chinese, no.

Omnomnomnivor3

hey if HK/China gets back at it then maybe we don't need to wait for the halvening

Shinryukens

Oh HK market coming in. 🤑

mochi_ball223

China has had some promising news. A court in China says crypto is legal property and HK crypto exchanges Hashkey and OSL now have secured licenses for retail investors.

JuggaliciousMemes

“As long as one doesn’t violate the bottom-line, to not threaten financial stability in China, Hong Kong is free to explore its own pursuit under ‘One Country, Two Systems.’” China needs help, seems like it takes a lot of mental gymnastics to operate a tyrannical government. Hong Kong is a part of China but isn’t a part of China so crypto is legal in HK but not in China and digital assets are legally protected under one court system but outlawed and restricted under the OTHER court system……..its just……SHEESH….. I understand that hypocrisy is a cornerstone of power but the Chinese government is doin too much, how do they even keep track of all that?

InsaneMcFries

And it’s naive to think China isn’t involved in the crypto scene entirely. They restrict their own population and will unban crypto when they are ready for the bull. Meanwhile they can access whatever trade they want from HK

milonuttigrain

Singapura and HK is more about fin tech. Korea is more about manufacturing, though Koreans are keen on crypto. ROC is the laggard of the 4 tigers imo.

drbobbean


optimum_pride_o

HK spreading their legs for crypto now. I wonder what's China's say on this..

cryotosensei

Because land is scarce in HK n most apartments are tiny n so many Hong Kongers don’t own their own washing machine?

MaximumStudent1839

Telling you to read the article is me being mad? Since the article is in the OP, I obviously assume that is what posts in the thread would be talking about. What the article says is not just a China issue but any country that practices capital control against the USD. People’s claim on China banning crypto seems super exaggerated. Just before HK opened its first exchange, there were so many Chinese traders pumping their own shitcoins as part of the hype. Their telegram were filled with mainland buyers. Whatever China is doing, people are clearly avoiding it with ease.

Pterodactyl_poop

Idk I hear that HK is pro blockchain unless I’m mistaken

Boddis

WhT I thought they were getting back in to the space? What’s happening in HK aswell? Seems odd and this article goes against most other news out of China?

coinfeeds-bot

tldr; A mansion in Hong Kong's Beacon Hill neighborhood has been leased to a person named Li Lin, who is speculated to be the founder of Huobi Global. The 11,692 square feet house is part of Kerry Properties' Mont Verra project and is estimated to be renting at HK$1.17 million (US$150,000) a month. The tenant has the option to purchase the premises for HK$1 billion during a 90-month leasing period. Huobi founder Li sold all his stakes in the company last year amid a meltdown in the cryptocurrency market. The Hong Kong government is making efforts to attract more crypto entrepreneurs and investors from mainland China. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR. Try our free crypto chatbot at https://chat.coinfeeds.io*

MaximumStudent1839

If you want an Asian NFT product, I recommend to stick with Japanese ones. I am going to be blunt, things coming out of Korea, China, HK, or South East Asia (Singapore, Malaysia, Philippines) are full of rugs. When they see the market turning south, their dev teams just vanish into thin air. They overpromise and don't deliver shit even even during regular market times. The Japanese devs are just more based. They really work hard to keep community together. The only downside is they tend to be Japan centric - hosting irl events in Japan only and online events with Japanese commenters. I can deal with it as long as they don't rug like their other Asian brethren.

GreedVault

Yes, and the Hong Kong e-HKD (HK CBDC) could be one of the first few CBDCs listed on crypto exchanges. The government seems to have been planning to do so, and their whitepaper and news are hinting at that.

jaellwai1

Lots of big moves being made in the Korean NFT market as well. Seems like a battle for Asian dominance brewing between HK and Korea.

steavus

My wife: You cant look at the charts allday: Me: