China Ban, Hong Kong the new Center

[~AnonCoinMan~]

After China's ban of ICOs, mining facilities, and crypto currencies, Hong Kong is the new center for the Chinese crypto-world.

NEO (https://neo.org) and KNT (https://kora.network) are big ones who base in Hong Kong now, more will come. HK has been China's financial hub for many years, now it is slowly becoming China's crypto hub

[Tylev]

After China's ban of ICOs, mining facilities, and crypto currencies, Hong Kong is the new center for the Chinese crypto-world.

NEO (https://neo.org) and KNT (https://kora.network) are big ones who base in Hong Kong now, more will come. HK has been China's financial hub for many years, now it is slowly becoming China's crypto hub

In general, you are right. The center of trade in crypto currency is shifting from China, where the trade in crypto currency is somewhat limited, towards Hong Kong. This can even be traced to the example of the Kucoin exchange, which was originally planned to open in China, but was moved to Hong Kong due to bans. However, it's too early to say that Hong Kong was the new center of the crypto-international world. Japan aspires to such a title without groundlessness. There now about 40 percent of all transactions in bitcoin are performed, and a very favorable situation is created for the development of the crypto currency.

[Angelia46]

That's true for now.
China has ostensibly banned the cryptocurrency market, but Hong Kong has been open to the whole market.

[mmo4me.2016]

After China's ban of ICOs, mining facilities, and crypto currencies, Hong Kong is the new center for the Chinese crypto-world.

NEO (https://neo.org) and KNT (https://kora.network) are big ones who base in Hong Kong now, more will come. HK has been China's financial hub for many years, now it is slowly becoming China's crypto hub

Thanks your info! I think! Next times, many country can ban crypto! But i still like Bitcoin and altcoin!
Thanks gain!

[DBronze98]

After China's ban of ICOs, mining facilities, and crypto currencies, Hong Kong is the new center for the Chinese crypto-world.

NEO (https://neo.org) and KNT (https://kora.network) are big ones who base in Hong Kong now, more will come. HK has been China's financial hub for many years, now it is slowly becoming China's crypto hub

China is a big crypto country, there are many investors and their influence on Crypto is enormous. Information China has banned Crypto has had a substantial negative impact on the market trend, information about Hong Kong will help the market go up in the future, and I hope that Hong Kong will be known as the most significant Crypto Center of the world.

[sxafir]

China not banned eobot mining farm is good.

[steins19]

China decided to ban crypto because anything beyond their control should be eradicated. But I am curious on how china will react about Hong Kong being the center of Crypto. Because China bans it because they don't want to let their people become victim of treacherous people who just want to scam and steal money from users. Since Hong Kong is close to China, I guess it won't take long when China makes it moves to convince Hong Kong to ban Crypto.

[Theo222]

After China's ban of ICOs, mining facilities, and crypto currencies, Hong Kong is the new center for the Chinese crypto-world.

NEO (https://neo.org) and KNT (https://kora.network) are big ones who base in Hong Kong now, more will come. HK has been China's financial hub for many years, now it is slowly becoming China's crypto hub

they reducing the opportunity in their country maybe china soon think that they are wrong that they ban it. and to hongkong what a great time to start bitcoin or cryptocurrency in their country. they can increase the number or the percentage demand of coins in their country.

[mobilezz]

After all, Hong Kong is also China, does not it have a ban on it. If so, then it's good, but I think for a little while, or they will either be banned there, or they will do everything open as before.

[Herbert2020]

correct me if i am wrong (with trusted references only) but the only thing that China banned were ICOs, they didn't even ban exchanges they asked them to follow the regulation rules they had in mind but the exchanges decided not to do it and close down instead.
and also Chinese government never banned cryptocurrencies neither trading them. and the Chinese volume and also the localbitcoins stats is a good proof of this.

[Ricsung]

correct me if i am wrong (with trusted references only) but the only thing that China banned were ICOs, they didn't even ban exchanges they asked them to follow the regulation rules they had in mind but the exchanges decided not to do it and close down instead.
and also Chinese government never banned cryptocurrencies neither trading them. and the Chinese volume and also the localbitcoins stats is a good proof of this.

Yes, China is unequivocally prohibited for ico. They believe that ico is a crowdfunding method and cannot guarantee the security of users' assets.

[Haunebu]

After China's ban of ICOs, mining facilities, and crypto currencies, Hong Kong is the new center for the Chinese crypto-world.

NEO (https://neo.org) and KNT (https://kora.network) are big ones who base in Hong Kong now, more will come. HK has been China's financial hub for many years, now it is slowly becoming China's crypto hub

In general, you are right. The center of trade in crypto currency is shifting from China, where the trade in crypto currency is somewhat limited, towards Hong Kong. This can even be traced to the example of the Kucoin exchange, which was originally planned to open in China, but was moved to Hong Kong due to bans. However, it's too early to say that Hong Kong was the new center of the crypto-international world. Japan aspires to such a title without groundlessness. There now about 40 percent of all transactions in bitcoin are performed, and a very favorable situation is created for the development of the crypto currency.

I agree with you here. You make many valid points. I still remember how the market took off at this point last year due to Japan embracing crypto wholeheartedly, but it looks like the same won't happen this year. The entire Chinese and Korean ban on crypto followed by India recently has seriously hit the crypto market badly, but this does not mean that Hong Kong is the new crypto hub. This further reinforces the fact that Japan is the central crypto hub since majority of the crypto investors are from Japan itself and they have a tight grip on the market itself.

[thinknow11]

I think we need to report situation like this more accurately, China as never ban cryptocurrency but they feel "Initial Coin Offering" (ICO) is not transparent enough to guarantee investors safety and so they decided to ban ICO.

[~AnonCoinMan~]

I think we need to report situation like this more accurately, China as never ban cryptocurrency but they feel "Initial Coin Offering" (ICO) is not transparent enough to guarantee investors safety and so they decided to ban ICO.

Is that so? Thank you for clarifying that. Ive read a lot of false things about the subject and will not repeat that misinformation.

[Direwolve735]

After China's ban of ICOs, mining facilities, and crypto currencies, Hong Kong is the new center for the Chinese crypto-world.

I agree with you. After the ban of ICO in China, the crypto-currency market felt negative trends, but now the number of ICOs continues to grow, because Hong Kong is an excellent center for business development in the East Asia region, where strict rules that are valid in the rest of China do not apply. However, it is not worth taking Hong Kong as an open space for everyone. Recently, a statement was issued with a warning to investors that it is required to perform the necessary verification of projects before they are considered.

[AlexaSonda]

correct me if i am wrong (with trusted references only) but the only thing that China banned were ICOs, they didn't even ban exchanges they asked them to follow the regulation rules they had in mind but the exchanges decided not to do it and close down instead.
and also Chinese government never banned cryptocurrencies neither trading them. and the Chinese volume and also the localbitcoins stats is a good proof of this.

you are right, i know also that china government only forbids ico. crypto is not prohibited there, because traders and their citizens are still free to trade in exchange.

[richcorner100]

Hongkong is country that supported cryptocurrency and blockchain technology, this country just like Japan, many famous exchange that come from Hongkong and they become trusted and most popular exchange in the world like Binance and Kucoin. China should follow Hongkong so cryptocurrency will give benefits to their people.

[Faeton]

I think we need to report situation like this more accurately, China as never ban cryptocurrency but they feel "Initial Coin Offering" (ICO) is not transparent enough to guarantee investors safety and so they decided to ban ICO.

According to the latest information, China was hinted at the possibility in the near future to allow the ICO, which should be regulated. If this happens, then, in fact, China will develop its crypto currency as before.
So far, one thing is clear: China still does not develop a crypto currency, and which of the countries - Hong Kong or Japan will become a new center of crypto currency, time will tell. It is already good that in these two countries there are no obvious deterrents for the development of the crypto currency.

[chokomenia]

it's nice to know, I believe in the future china will review their stand on crypto currency and be able to regulate it and make safe for the china people.

[Newboybb]

I also think Hong Kong is now the center of the blockchain.
Because many exchanges have chosen to move their domicile to Hong Kong.