NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Is the Future of Crypto in Hong Kong in Danger? Extradition Protests Spark Fear

Samuel Wan
Samuel Wan
6 years ago
3 mins read

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

An estimated 1 million Hong Kong residents took to the street on Sunday to protest changes to extradition law by Beijing. The protests were peaceful up until midnight when rising tensions erupted in violent clashes with the police outside the legislative offices, sparking fear towards the future of the region’s crypto sector.

While concerns over extradition law provided the backdrop for the turmoil, the underlying issue relates to increasing unease over Beijing’s continual encroachment into Hong Kong’s affairs. And considering China’s tough stance on crypto, many are wondering what will become of Hong Kong’s cryptocurrency market.

VIDEO: Huge crowds in Hong Kong take part in a protest march as anger swells over plans to allow extraditions to China pic.twitter.com/xJBqkqmdyO

— AFP News Agency (@AFP) June 9, 2019

Hong Kong Protestors Concerned Over Sovereignty

The proposed extradition amendment would allow the extradition of suspects to mainland China. Legislators believe the change is necessary to stop Hong Kong from becoming a refuge for criminals.

However, critics are concerned that Beijing would exploit the ruling to extradite political opponents, and other enemies of the state, to China, where legal rights are questionable.

Professor Dixon Sing, of Hong Kong University of Science and Technology, believes the proposals would subject people to arbitrary detention and unfair trial and torture. Speaking to the BBC, he said:

“It could give China additional leverage to counteract Western policies against its interests… Once this law is passed, Beijing could extradite foreigners staying in or passing through Hong Kong.”

China Hates Crypto

All of which raises questions over the future of crypto in Hong Kong. While China is not against blockchain technology as such, it is openly hostile to speculative trading of cryptocurrencies.

Some see this as necessary to protect investors from scams, while others attribute China’s approach to crypto as a way to enforce monetary control.

The valuation of the crypto market has doubled
The valuation of the crypto market has doubled year-to-date (source: coinmarketcap.com)

Technology blogger, Marco Rossi takes the argument one step further. In this article for hackernoon, Rossi highlights to opposing ideals between crypto and the Chinese state. He wrote:

“The main agenda of Bitcoin, Ethereum, and other cryptocurrencies, hence, clashes against the very totalitarian and centralising nature of the Chinese state. Whether such ‘cryptoagenda’ will be successful or not China’s not willing to take the risk. Because nothing, not even a virtual coin should compete with the almighty power of the state and its Communist Party.”

"China hates cryptos. But loves a good ol’ blockchain." by @rossimarco1395 https://t.co/wPZxCDc29l #blockchain #cryptocurrency

— HackerNoon | Learn Any Technology (@hackernoon) May 24, 2019

Cloak And Dagger Antics To Trade Crypto

And so, Hong Kongers are justified in thinking that the “one country, two systems” constitutional principle is a sham. But of more significant concern is the expiration of this arrangement in 2047. To which Beijing will have full sovereignty over the former UK colony.

With that in mind, barring an unprecedented u-turn by Chinese officials, the long-term outlook for cryptocurrency in Hong Kong is looking bleak. One Reddit user wrote:

“You’re right, China is willing to play the long game. This extradition law is just the beginning, in 20 years HK will just be another province.”

All the same, others express an unperturbed response by pointing out that China has not banned the holding of cryptocurrencies. On top of which, numerous loopholes exist to trade cryptocurrency, if one wished. But then again, shouldn’t people have the right to trade crypto without using cloak and dagger antics?

Tweet123Share215ShareSend
Samuel Wan
Samuel Wan

Samuel Wan

Samuel Wan is passionate about different cultures and eating good food. He has years of experience working in business and finance — a burgeoning interest in Bitcoin and cryptocurrencies since 2017. UK based.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Ethereum Risks Downside If Resistance Holds: $2,700 Level Is Critical

Ethereum Risks Downside If Resistance Holds: $2,700 Level Is Critical

Ethereum is trading above the $2,500 level, showing notable strength despite recent volatility across the broader crypto market. Since early...

Sebastian Villafuerte 2 hours ago

BTC Bull Token tiek palaists šodien – jaunā kriptovalūtas sensācija ar bezmaksas Bitcoin atlīdzībām

BTC Bull Token oficiāli tika palaists šodien un jau raisa lielu interesi Bulgārijas kripto investoru un Bitcoin entuziastu vidū. Tikai...

lasma 3 hours ago
Dogecoin price analysis

Chartist Slams Misleading Dogecoin Analysis: ‘Focus On This Instead’

Technical analyst Kevin, better known on X as @Kev_Capital_TA, rekindled debate over Dogecoin’s market structure on Sunday when he urged...

Jake Simmons 4 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Анализ ликвидности BTC: $107 000 и $110 500 станут целями

lisachaikina 2 hours ago
defi

DeFi coin rankings schudden op – Hyperliquid, Sui en Avalanche breken door naar top 10 lijst

Lars Diederiksen 2 hours ago

Prezzo di Cardano in Rialzo, ADA Tenta la Rottura Oltre i 0,59$

clararosati 2 hours ago

Premium Sponsors

Press Releases

  • top memecoins

    Những Meme Coin Tiềm Năng Đáng Mua Hiện Nay Với...

    1 hour ago
  • Potential Coins

    Các Đồng Coin Tiềm Năng Mới Nhất: Enfineo...

    2 hours ago
  • 4 Altcoin Hàng Đầu Được Chuyên Gia Dự Đoán...

    2 hours ago
  • mining

    W·Mining integrates innovation and launches a new...

    2 hours ago
  • MEXC Golden Era Showdown Concludes with Record 4M USDT...

    2 hours ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.