The price of Bitcoin has fallen 3% affected by the regulatory crisis in HK crypto businesses
Leo Weese, the co-founder of the Bitcoin Association of Hong Kong have stated the following:
Earlier this year china have stripped the city state of Hong-Kong of their independence in market and business decisions, assuming the governmental control over all aspects of the business in a same way it’s happening all across China.
China have shown many times that it’s not going to share crypto market with uncontrollable parties, forbidding mining and launch of independent crypto businesses.
Now tensions grow higher as China is looking to “regulate” the existing Hong-Kong exchanges, which is likely to complicate doing crypto business on the territory of Hong-Kong.