#### <center>Hong Kong is lagging behind in relation to use and legislation on criptomonedas</center>

![hong kong.jpg](https://steemitimages.com/DQmetXhg3NCuLtTEs4gq7LEAQnYUEVBZBYfFC9ENr2LAvka/hong%20kong.jpg)


OPINION.


Hong Kong is one of the Chinese administrative regions that stays of more quiet in the field of the criptocurrency; i.e., although there is interest in Bitcoin, the Government has not taken any radical decision so far. It seems that local officials are rather happy to "ignore" this trend and instead are eager to embrace the technology Blockchain. An interesting stance, but that in the long run could hurt the reputation of the territory.


Of course, Hong Kong is not in the best of places when it comes to criptocurrecy. Blockchain technology poses great opportunities in the region, but includes risks pronounced for the local economy. The Fintech industry has a major role in the city, although everything revolves around traditional solutions with a modern "wrapper", because when it comes to electronic money there is no policy or regulation that talk. This means that the city is not on par of other Asian in the area locations, so now is a good time to make a turn of nut to the scene, assuming, obviously, that the Government wants to take some risks.


However, while it is true that the Government has not passed autumn chain blocks, ultimately not been a first concrete step towards a Fintech initiative that is right. The criptocurrency can not be ignored and will not disappear in the darkness; In addition, the dependence of the region with global and regional banks is a problematic factor. The criptocurrency  sooner or later challenge this position.


Hong Kong will benefit a lot in promoting the use and acceptance of Bitcoin, since transactions between borders at low rates and without scrutiny can be very beneficial for any economy. On the other hand, China has been very involved in the criptocurrency  for some time: the majority of mining reserves are registered in the country and the Central Bank is promoting a regulatory ecosystem for the father of the criptoactivos. In this regard, the efforts of Hong Kong are virtually non-existent.


Thus, there is no presumption that indicates a radical change in the landscape in the short term. Considering that alternative forms of payment as Bitcoin will only gain more traction in the future, take advantage of the opportunities offered by the criptocurrency must be a priority. Nobody wants to stay back and not take advantage of future possibilities.


Sources: NewsBTC .


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