Published on September 16th, 2017 | by bitcoin0
China’s Stricter Bitcoin Regulations Will Make Hong Kong Market Stronger
Regulatory friendly region
More to that, in an interview with the South China Morning Post, Bitcoin Association of Hong Kong Leonhard Weese noted that China’s restrictions on bitcoin trading and usage will drive businesses to Hong Kong and nearby countries like Japan and South Korea.
Since early 2015, Hong Kong has been praised for being a regulatory friendly region for bitcoin and blockchain startups.
For the past three years, only 1 Hong Kong-based bitcoin exchange Bitfinex was able to evolve into a major global bitcoin trading platform.
But, Weese emphasized that if China continues to crackdown on bitcoin and cryptocurrency-related businesses, it will further drive growth to Hong Kong.
Chinese #bitcoin exchanges worked with the government, allocating substantial resources to improve the market & they were punished instead.