At the background of Hong Kong protests cryptocurrencies have got huge popularity as instruments, allowing to avoid state supervision – investment platform has learned.
Because of the now-recalled extradition bill, which would allow law enforcement to detain and transport people to mainland China, the Hong Kong government had to impose a state of emergency.
Against the chaos, that has enveloped the whole region, digital currencies provide an opportunity to go away from state supervision. For the last several months the list of companies, including Hong Kong Free Press and Pricerite, have claimed that they accept cryptocurrencies as donations.
In addition, web-map HKmap.live (local free analogue of Google Maps service) has also started to accept crypto assets. Developer of HKmap.live, well known to wide audience under nickname Kuma, has told about reasons of taking the decision to accept cryptocurrencies.
According to Kuma, Hong Kong authority are guilty that people are forced to remain anonymous. His service accepts BTC, BCH, ETH, XMR, ZEC, XLM, XRP and NANO. The last three positions have been added at the request of the users themselves.
Current information says that they have already collected a couple of thousand US dollars, which have been used to pay hosting, operating and legal expenses.
“Cryptocurrency anonymity significantly decreased risks and protected us and our customers. Many people consider that cryptocurrencies are something horrible, but I don`t think so. It is quite fairly. 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”, – Kuma noted.