【Hong Kong media: Local banks in Hong Kong have not yet recognized Bitcoin, and employers using Bitcoin to pay wages may violate the Employment Ordinance】According to a report by Golden Financial, Hong Kong media HK01 disclosed that the Employment Ordinance in Hong Kong stipulates that wages must be paid in monetary form, and cryptocurrency is not legal tender. Therefore, employers paying wages in Bitcoin may violate the law. Some technology companies have used Bitcoin as a new year bonus or reward without significant legal issues, but even if employees continuously receive Bitcoin as rewards or bonuses, or report Bitcoin income for tax purposes, banks will not accept it. Borrowers can only calculate their DTI based on wages, bonuses, and commissions received in legal tender. In addition, local banks in Hong Kong currently only accept cash, stocks, foreign currencies, Hong Kong property, funds, and bonds. Some banks also accept non-premium financing policies as the applicant's assets, but there have been no successful cases for Bitcoin. The reason is that banks in Hong Kong do not recognize cryptocurrencies. The only feasible method is to cash out the cryptocurrency, then use the funds as a down payment for property, or apply for a mortgage based on asset levels. According to the latest regulations, there is a chance to apply for loans up to 70%.

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