The number of physical cryptocurrency exchange points for “tourists” from China is growing in Hong Kong – Bits Media

Activities of cryptocurrency exchange points, oriented users from mainland China, The uncertainty in the legislation on the regulation of cryptocurrencies in Hong Kong interferes.

Leading specialist in cryptocurrencies in PWC and former chairman of the Association financial technology Hong Kong Henri Arslannyan (Henri Arslanian) reported, that Hong Kong
It is distinguished among other jurisdictions on the number of offline off -line cryptocurrency brokers.

"These are literally physical exchangers for retail operations with cryptocurrencies".

General Director and Founder Hong Kong Digital Asset Exchange ( HKD) Kelvin Yung (Kelvin Yeung) told, that the physical branch of the exchange provides for the sale of cryptocurrencies and advises customers since January 2021 of the year. He considers, that in the future cryptocurrency exchange points will become a global trend, which will move forward as the industry develops.

"As the, as the industry includes more and more private and institutional investors, and cryptocurrency becomes mainstream, The tendency is manifested in parallel with online turrets to open physical points of exchange ".

Thanks to this, there is more trust between customers and exchange due to its physical presence in the form of exchange points. Visitors to such exchangers are people from 40 to 70 years old, who still keep cash and trust only traditional financial systems. Cryptocurrency stores are guided not only by the older generation. In Hong Kong there are branches of exchanges, which specialize in the beautiful half of humanity.

Despite, that cryptocurrency exchangers increase user access to assets, A number of regulatory risks are associated with such institutions. According to Henri Arslannyan in Hong Kong, the number of stores may increase due to the influx of tourists from mainland China, interested in buying cryptocurrencies bypassing the legislation of the PRC. On the other side, Tighten the normative base of Hong Kong on the regulation of cryptocurrencies can lead to the complete closure of these metabolic points.