Hong Kong Chief Executive Discusses Suspension of Basketball Betting Tax

Hong Kong Chief Executive John Lee addressed the media before attending an executive meeting, discussing the suspension of the basketball betting tax. According to Odaily, Lee stated that the Youth Affairs Bureau needs to regularly review the situation and manage risks before continuing with the basketball betting tax policy, considering it an appropriate action. Lee emphasized that the suspension is not solely due to gambling but is also related to virtual currencies. The Hong Kong government has observed a significant increase in illegal gambling 'prediction market' transactions, which are facilitated by cryptocurrency betting. Therefore, the policy should not be advanced blindly.