Management of currency circulation, published a report in which it warns that the mass implementation of Blockchain technology may increase the risk of its criminal use.
Hong Kong is a special administrative region of China and gained independence from the British in 1997. This is due to the peculiarity of the Hong Kong legal system: until 2047 will act as the Hong Kong legislation adopted prior to 1997 (formed under the influence of the UK) and legislation of China (regulates the field of defence and foreign policy). Here, as in the UK, bitcoin is in a legal vacuum, and the tax legislation does not provide any special rules of taxation. In November 2013 the CEO of Management of monetary circulation of Hong Kong (Hong Kong Monetary Authority, hereinafter "Authority") Norman Chan said that Bitcoin is a virtual goods (virtual commodity), and the regulator has no plans to regulate it.
In January 2014 the Secretary for financial services and Treasury of Hong Kong (Hong Kong Secretary for Financial Services and the Treasury) said that Bitcoin is highly speculative commodity. He also warned about the possible risks when trading in cryptocurrency, the conduct of exchange operations and just when storing the digital currency.
In July of this year, for the risks while trading or when participating in investment activities drew the attention of the police of Hong Kong (Honk Kong Police Force). Bitcoin was again named a very speculative commodity.
In March 2015, Secretary Bureau financial services and the Treasury (Financial Services and the Treasury) noted that the government does not consider it necessary to adopt new legislation to regulate or ban cryptocurrency trading.