Bitcoin 

‘Never Use BitPay’ — Hong Kong Free Press Slams Bitcoin Donation Block

Cryptocurrency payment processor BitPay faces another publicity nightmare amid claims it blocked donations to Hong Kong for several weeks. According to a complaint on social media by Tom Grundy on Sept. 11, founder of crowdfunded media outlet Hong Kong Free Press (HKFP), BitPay suddenly began failing to pass on funds from donors.  Press CEO: “Never use BitPay” HKFP has accepted Bitcoin (BTC) support since 2015. Since that time, BitPay has processed payments worth just under 15,000 HKD ($1,900). For the past three weeks, however, the company has blocked access, Grundy…

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Bitcoin 

Hong Kong Businesses Begin Adopting Bitcoin as a Form of Protest

The pro-democracy, anti-government protest movement in Hong Kong is spurring wider adoption of cryptocurrencies such as Bitcoin (BTC). Yahoo! Finance reported on Aug. 28 that the political upheaval in the city — which has now entered its 12th week — is prompting several local businesses and individuals to switch to using non-sovereign and decentralized digital currencies. Apolitical, borderless money for the pro-democracy movement On Aug. 26, Hong Kong department store Pricerite announced it would begin accepting Bitcoin, Litecoin (LTC) and Ether (ETH) at its fourteen locations in Hong Kong.  Yahoo…

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Bitcoin 

Hong Kong Is Paying Higher Prices for Bitcoin Amid Political Unrest

Bitcoin (BTC) has begun trading at a premium in Hong Kong as continued political uncertainty produces a widely-reported spike in demand.  Copycat moves underline fiat distrust Data from P2P Bitcoin exchange LocalBitcoins showed traders paying around $300 more per coin than elsewhere on Aug. 14, which translates into a premium of around 2%. Hong Kong is the latest jurisdiction to see investors stump up a higher implied USD price for the cryptocurrency, with Argentina notably in a similar situation this week. As Cointelegraph reported, the premium there, which at one…

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Bitcoin 

Hong Kong Cryptocurrency Exchange Bitfinex Removes $10k Minimum Equity Requirement

Bitfinex, a cryptocurrency exchange based out of Hong Kong, announced that it had removed the minimum equity for its users in a Medium post published on April 9. Per the announcement, the company reconsidered its requirement — which had been set at $10,000 — due to demand from traders. The exchange’s CEO, Jean-Louis van der Velde, is quoted in the post as stating: “We simply could not ignore the increasing level of requests for access to trade on Bitfinex from a wider cohort than our traditional customer base. For the…

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Bitcoin 

Hong Kong Entrepreneur Who ‘Made It Rain’ from High-Rise Arrested for Crypto Mining Fraud

A purported Bitcoin millionaire (BTC) who was previously involved in “making it rain cash” on the streets of Hong Kong, has reportedly been arrested for mining-related fraud, the South China Morning Post reports Thursday, Feb. 28. A 25-year old businessman named Wong Ching-kit and his 20-year-old colleague have purportedly been arrested by Commercial Crime Bureau officers at their office in Hong Kong. They are reportedly being held in custody for conspiracy to defraud investors by selling them cryptocurrency mining machines. Details on how or why these miner-related sales were considered…

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Bitcoin 

Hong Kong Stock Exchange Head Hints at Incompatibility of Bitmain IPO

The head of the Hong Kong Stock Exchange (HKEX) has addressed queries about initial public offering (IPO) listings amid confusion over Bitcoin mining giant Bitmain’s application. English-language newspaper South China Morning Post (SCMP) reported the comments on Jan. 24. Speaking at the ongoing World Economic Forum (WEF) in Davos, Switzerland, HKEX CEO Charles Li Xiaojia said that it was important IPO candidates were consistent about their business offerings. “If a company made billions of US dollars through Business A, but suddenly said it will do Business B without showing any…

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