As Bitcoin cracks $9,000 to reach a yearly high topping $9,300, Hong Kong residents are paying a premium for the world’s largest cryptocurrency.





The digital asset is reportedly being used as a safe haven for wealthy residents in Hong Kong who are looking for a way to protect their funds against a proposed law that would allow the government to extradite alleged criminals to mainland China where they would tried.





The extradition bill would impact Hong Kong’s status as a financial powerhouse, affecting not only Hong Kong residents but also foreign nationals who are living or traveling through the territory.





“The fear is that the bar is coming right down on Beijing’s ability to get your assets in Hong Kong. Singapore is the favored destination.”

Read more at The Daily HODL

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