Hong Kong Lawmaker Proposes Bitcoin in Investment Immigration Program
Hong Kong lawmaker Charles Mok has proposed the inclusion of Bitcoin in the city’s Investment Immigration Program. He outlined his suggestion in a letter to Chief Executive Carrie Lam, suggesting that issuing digital tokens as a point of entry to the city’s popular Investor Immigration Program could be beneficial to the city’s economy. His suggestion is that the government would accept Bitcoin payments as an alternative source of funds as part of the program. According to Mok, this would help spur the acceptance of cryptocurrency in Hong Kong, which he suggested would further lead to increased technological innovation and reduced transaction costs. Mok also argued that Bitcoin payments could create a more equitable society as it would help open up the potentially lucrative program to people who may currently have difficulty acquiring fiat currency in the volume required. The specifics of Mok’s plan have yet to be revealed, and it remains to be seen whether the Hong Kong government will embrace his suggestion.