Bitcoin still faces multiple restrictions in the mortgage and salary fields in Hong Kong, especially those that may touch upon the Employment Ordinance.

Wu said that, according to Hong Kong 01, Cryptocurrency Bitcoin still faces multiple restrictions in the mortgage and salary fields in Hong Kong, especially the possibility of touching the "Employment Ordinance". The article points out that the "Employment Ordinance" stipulates that wages must be paid in legal tender, and the distribution of Cryptocurrency as wages or violation of relevant laws can only be used for additional rewards such as starting red packets. In mortgage applications, even if employees continue to receive Bitcoin rewards, banks do not recognize them as a legitimate source of income and cannot be included in the income ratio (DTI). Property owners holding Bitcoin who plan to cash out for mortgages need to provide proof of the legal source of funds, but may still be rejected or even have their accounts blocked due to Money Laundering risks.

View Original
  • Reward
  • Comment
  • Share
Comment
0/400
No comments