TideBit Rules HK Bitcoin to Fiat Market, Business News

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HONG KONG, CHINA – Media OutReach
 – 12 November 2019 – Cash is king, Gold is better. There is
more than one reason bitcoin is dubbed as “digital gold” in time of
turbulence. TideBit
, as the largest and safest bitcoin to fiat exchange in Hong Kong
and frequently quoted for its signature pair BTC/HKD and ETH/HKD,
is grasping a golden opportunity presented by HK Securities and
Futures Commission (SFC). 

During the Hong Kong Fintech Week, the HK SFC issued regulatory
policies for digital currency exchanges. Two major take-away
points:

1. The new rules will apply to security tokens and digital assets
only, but not to mainstream cryptocurrencies such as Bitcoin or
Ethereum as regarded as commodity, not securities.

2. SFC warned investors about the risks associated with the trading
of futures contracts, which are highly leveraged, largely
unregulated and exposed to tremendous risk. 

TideBit
exchange platform token TBT rose nearly 30% after the
announcement, and the volume of transactions also surged more than
three times within one day. A TideBit speaks
person commented: “TideBit welcome the new SFC framework to
proactively protect the investors. In the long run, only the
self-disciplined, self-regulated exchanges with vision could reap
the long-term benefits of blockchain technology and decentralized
community. I am extremely excited by the opportunities presented by
the SFC framework. TideBit has been operating under compliance and
welcomes the SFC policies.”

The Hong Kong Fintech Week
, presented by InvestHK and organized by FINNOVASIA is one of
Asia’s biggest fintech events. Themes of this year’s event include
the latest Fintech developments in Hong Kong and the new entrants
to the city’s financial services industry. These include virtual
banks, digital insurers and those driving the development of new
technologies, including artificial intelligence, big data and
blockchain. TideiSun Group’s TideBit
is the Asia’s largest and safest bitcoin to fiat exchange. Users
can sign up, deposit fund and trade within 10 minutes. 

About TideiSun Group

TideiSun Group
is a global FinTech and media group known for its business model
innovation. We operate both public and private subsidiaries,
embrace venture capital and private equity with the creative token
economy, accelerate enterprise adoption of blockchain and AI
technology, bridge the gap between digital assets and fiat
currencies, and promote the exchange and management of digital
assets.

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