Hong Kong-based Bitcoin store inaugurated

Tuesday 11 March 2014 00:44 CET | News

A Hong Kong-based brick-and-mortar store selling the virtual Bitcoin currency has recently been inaugurated as a counterattack to the waves of concerns in Asia over the currencys viability and security.

According to ANXBTC the Hong Kong-based exchange shop, the operation comes as a retaliatory action in order to support and increment the popularity of the crypto-currency.

The move came at the same time with the Japanese Bitcoin exchange MtGox’s forced filing for bankruptcy protection, claiming it had lost nearly half a billion dollars worth of the digital currency in a possible theft.

At the end of 2013, the Peoples Bank of China (PBoC), the nations central bank, prohibited financial institutions to get involved in Bitcoin-related services and products while warning against its potential use in money-laundering. Vietnam has also banned its banks from handling Bitcoins, saying the virtual currency is not legal tender in the communist nation.

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Keywords: Bitcoin, crypto-currency, Hong Kong, ANXBTC, store, fraud
Categories: Payments & Commerce
Countries: World
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