February 4, 2023

Cryptocurrencies are growing in Hong Kong

Amid protests in Hong Kong, cryptocurrencies gained immense popularity as tools to move away from state supervision.

Due to the now recalled bill onextradition, which would allow law enforcement to detain and transport people to mainland China, the Hong Kong government had to impose a state of emergency.

Amid the chaos that swept the entire region,cryptocurrencies allow you to get away from state supervision. Over the past few months, a number of companies, including Pricerite and Hong Kong Free Press, have announced the acceptance of cryptocurrencies as donations.

HKmap web map.live, (a local free analogue of the Google Maps service), also began to accept crypto assets. The developer of HKmap.live, known to a wide audience under the pseudonym Kuma, spoke about the reasons why it was decided to accept cryptocurrencies.

According to the developer, the Hong Kong governmentit’s guilty that people are forced to remain anonymous. His service accepts BTC, ETH, BCH, XMR, ZEC, XLM, XRP and NANO. The last three were added at the request of the users themselves.

According to current information, they have already raised approximately a couple of thousand US dollars, which are aimed at paying for hosting, operating and legal expenses.

“Anonymity of cryptocurrencies significantly reducedrisks and has protected us and our users. Many attribute cryptocurrencies to something bad, but I don’t think so. This is quite fair. It is likely that with the help of Bitcoin they really finance illegal activities, but the fiat currency in this regard is used much longer and in much larger volumes, ”said Kuma.