93rd day of the month，796Zhu Rong, the head of the exchange, posted on his Sina Weibo: “After more than a month of application and rigorous review,，796The exchange received a money services license from the Hong Kong Customs this morning.，license number：13-08-01255。"If nothing else happens,，796The exchange should be the first Bitcoin exchange in China to obtain a money services license.。
796The exchange is established and operated by 796 Network Trading Co., Ltd. (referred to as 796Xchange) established in Hong Kong。796The exchange is a company that covers futures related to Bitcoin、stock、fund、options、Financial management and other comprehensive financial websites。It is the first domestic Bitcoin online trader to launch futures and margin trading services.。
for legal reasons，796All transactions on the exchange are always settled in Bitcoin，It has no connection with legal currency。This is relatively rare in the domestic Bitcoin industry。What does it mean that 796 Exchange successfully obtained the "Hong Kong Money Service Operator License (MoneyServiceOperator)" this time?
Chapter 615 of the Laws of Hong Kong "Combating Money Laundering and Counter-Terrorist Financing"(financial institution)Regulations stipulate，Anyone wishing to operate remittance and/or currency exchange services(i.e. money services as defined in the Anti-Money Laundering Ordinance)The person must report to the Commissioner of Customs and Excise(Commissioner)Apply for a license。Operating money services without a license from the Commissioner，It is a crime，Once convicted，punishable by a fine of $100,000 and imprisonment for 6 months。
Money services in the "Hong Kong Money Service Operators License" refer to currency exchange services or remittance services。currency exchange services(moneychangingservice)Refers to currency exchange services carried out as a business in Hong Kong。
Remittance service(remittanceservice)Refers to a business conducted in Hong Kong、Providing one or more than one of the following transaction services：(a)Send money or arrange for money to be sent outside Hong Kong；(b)Receiving or arranging to receive money from a place outside Hong Kong；(c)Arrange to receive money outside Hong Kong。
While Bitcoin’s status has yet to be decided，Governments around the world, including the Hong Kong government, have not recognized whether Bitcoin is a currency (the German government recently recognized that Bitcoin can be used as a "unit of account" in Germany)。in this case，Bitcoin’s default legal status should be subordinate to the category of “game currency”。And legal tender (including Hong Kong dollars、Is the exchange of RMB, etc.) with Bitcoin a currency exchange business?，No conclusion yet。
After 796 obtained the "Hong Kong Money Service Operator License"，Regardless of Bitcoin’s legal status，All can legitimately carry out currency exchange services related to Bitcoin.。In particular, the definition of "remittance services" is relatively broad.，Basically, simple exchange services related to legal currency can be carried out in various places.。
Judging from the trading volume，796The exchange currently ranks first in the country，Of course there is the element of leverage，However, it is not easy for a website that has only been established for less than 4 months to achieve such results.。certainly，There is still a long way to go to become a world-class Bitcoin futures exchange and Bitcoin stock exchange.。796At present, its international influence is still very small.，Without getting more breakthroughs in patterns。
But as a company registered in Hong Kong，Give people a lot of room for imagination。After all, in the Bitcoin world，Asia is not far behind Europe and the United States。Although some domestic exchanges can feel that their efforts have made breakthroughs，However, due to local legal restrictions，Always operating in a gray area。
As can be seen from recent Bitcoin news，Virtual currencies, mainly Bitcoin, have entered the financial stage，No matter how much controversy and suppression there is，Virtual currency has become an integral part of the Internet。In the current "enclosure movement"，It is very likely that the next generation of world-class virtual financial companies will emerge。Hong Kong will be under high pressure from the mainland free trade zone in the future，Both in terms of market and land，Hong Kong is completely unable to compete with mainland China。
Hong Kong, one of the financial centers in Asia，It should seek higher development based on financial policy and digital strategy.。therefore，Becoming a new digital finance and virtual currency center may be a good choice for Hong Kong，The virtual currency center may also become an auxiliary and alternative currency pool in mainland China.。in this context，796Exchanges and other Hong Kong-based Bitcoin companies could be the new stars of the future。
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