Svmuureported that Hong Kong SAR Chief Executive John Lee met with the media before the Executive Council meeting and was asked about the suspension of the basketball betting duty. He stated that the Home and Youth Affairs Bureau needs to conduct regular reviews and hopes to control risks before continuing to promote the basketball betting duty policy, which he believes is appropriate.
Lee emphasized that the suspension was not solely due to gambling concerns but was also related to virtual currencies. The Hong Kong government observed a significant increase in trading volume in illegal gambling "prediction markets," linked to the ability to place bets using cryptocurrencies. Therefore, the policy should not be blindly advanced. (HK01)
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Lee Ka-chiu: Prediction markets involving virtual currencies must take risks into account
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