HALISTER1: HKMA Chan Warns of Money-Laundering Risks in Digital Currencies

HKMA Chan Warns of Money-Laundering Risks in Digital Currencies

(Bloomberg) -- Bitcoins and other digital currencies are seen as virtual commodities in Hong Kong and these commodities might not have monetary backing, Hong Kong Monetary Authority Chief Executive Norman Chan says on the sideline of a conference in the city.
  • As bitcoins or other digital currencies do not require holders to trade under their real names, banks and other financial institutions should be careful about potentially breaching anti- money laundering requirements: Chan
  • NOTE: Hong Kong Regulators Looking Into ICOs, Finance Chief Chan Says
To contact the reporter on this story: Emma Dai in Hong Kong at edai8@bloomberg.net To contact the editors responsible for this story: Fion Li at fli59@bloomberg.net Jasmine Wang

Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
HKMA HK (Hong Kong Monetary Authority)

People
Norman Chan (Hong Kong Monetary Authority)

Topics
Bitcoin

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