CRYPTO IN CHINA RESTRICTED – BUT HONG KONG IS BUILDING LEGAL REGIME
October 24th, 2024
Despite mainland China tightly restricting buying, selling, mining and holding of crypto-currency in 2021 (1), private holdings and peer-to-peer transactions remain legal and so the country remains a major crypto centre – and hence a virtual currency ML risk. Its largest autonomous special administrative region (SAR) Hong Kong is also pushing ahead with a fully legal and regulated crypto sector, with AML/CFT controls being rolled out.
Indeed, UK-based crypto advisors Chainalysis has advised that mainland Chinese crypto-investors made the fourth largest gains ...
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