Hong Kong SFC to require negative Covid-19 test to buy Bitcoin under revised FATF guidelines
Following the release of newly revised FATF guidelines the Hong Kong Securities and Futures Commission (SFC) revealed on 1 April the introduction of new rules for prospective Bitcoin buyers.
Starting immediately, licensed funds, exchanges and institutional investors will need to submit a PCR test for the presence of SARS-CoV-2 less than 144 blocks old (6500 blocks for prospective investors on the Ethereum Blockchain). Their funds will be quarantined at a designated financial institution for 21 days before they can be exchanged for Bitcoin.
While it is still currently illegal to mask Blockchain transactions using so-called mixing services for privacy reasons, there are discussions around whether such masking should become mandatory.
“Corporations are people, too” a spokesperson for the SFC faxed in, emphasizing that only by holding hands and close (< 6 ft) collaboration can we efficiently fight the spread of novel coronavirus epidemic.
How exactly entities incorporated in Hong Kong will be able to undergo and submit their Covid-19 tests is yet to be revealed, but the Companies Registry is already preparing the relevant forms to anyone able to figure out how to send an e-cheque over e-Certs using their iAM Smart+ app.
Also, NFTs.
