If it sounds too good to be true, stay away. This is due to Know Your Customer KYC laws which require exchanges to record the real world identity of their clients. Each unit of bitcoin, or 0. The best gifts for hackers in The authority said it was monitoring the usage of Bitcoin as well as other regulatory efforts globally to consider further action in Hong Kong. As well as having an advanced economy and local high tech hardware industry, it is also one of the few places besides Hong Kong and Macau where banks can legally exchange mainland Chinese currency CNY, or renminbi.