The authorities of Hong Kong : the Bitcoin is not used by criminals

Regulators, governments and central banks often consider the Bitcoin as a tool of money laundering used by organized crime groups. In general, they do not present any evidence relating to these facts. A report revealed by an important financial centre allows you to see more clearly.

Source : Pixabay. The Bitcoin is not a means of money laundering.

No evidence of money laundering has not been provided

The Hong Kong authorities on Monday released its assessment report of the risks of money laundering and financing of terrorism. It examines the threats and risks facing the city. Addressing the question of the Bitcoin, the report revealed that the control by the Hong Kong police does not indicate any apparent signs of organized crime related to the trade of crypto-currencies.

Check out below a video in English explaining these facts :

In addition, the investigations have not demonstrated the use of crypto-currencies in terrorist activities or fraud. The threat level is low. The authorities in hong kong have, however, discovered the use of digital currencies as means of payment for online criminals.

The Bitcoin is not a threat to the economy

The report also explains why the use of Bitcoin should not be seen as a threat to governments and financial institutions. Hong Kong is one of the economies that are most free in the world with a forex market dynamics and without capital controls.

The report suggests investors to stay vigilant if they want to operate on the market of the virtual currency. The objective of the country’s authorities to take action only against the real crime. Unlike other regions, Hong Kong does not see the need to create regulations to limit the legitimate use of Bitcoin. The enclave considers that the legal and regulatory provisions in force relating to fraud and other crimes are sufficiently broad to allow identification of the offences, that they may or may not imply crypto-currencies.

Source : NewsBitcoin