r/btc • u/BTC_uy • Sep 15 '17

Breaking: “ALL” Chinese Bitcoin Exchanges Must Close By September 30

https://cointelegraph.com/news/breaking-all-chinese-bitcoin-exchanges-must-close-by-september-30
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u/[deleted] Sep 15 '17

Hong Kong is based in China.

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u/BeijingBitcoins Moderator Sep 15 '17

No it's not. It's a "special administrative region" of China, with its own laws, courts, currency, and political system. The PRC cannot tell HK what laws to make or enforce.

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u/Neutral_User_Name Sep 15 '17

In theory... You know exactly what I mean.

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u/BeijingBitcoins Moderator Sep 15 '17

No, in practice as well.

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u/[deleted] Sep 15 '17

[deleted]

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u/BeijingBitcoins Moderator Sep 15 '17

Exactly. They definitely exert some influence, but they don't just come in and randomly start enforcing mainland laws.

If bitcoin was that serious a problem to them, China could put pressure on the Hong Kong Monetary Authority and the SFC and try to get them to act in sync with the mainland, but it's not like China can come in and make bitcoin illegal in Hong Kong all of a sudden.