Category Archives: Compliance

Paying with Bitcoin: Settlements with cryptocurrency now accepted

Cryptocurrency settlements: Bitcoin

Transaction fees eliminated. Payment delays and traditional banks are a thing of the past.

As an international company with clients globally, a payment solution which is cost-effective and accessible universally is a must.

Why we accept Bitcoin as a currency?

Bitcoin boasts the largest and most well-known marketplace. Simple as that.


How to pay by Bitcoin?

We are registered with, and accepting Bitcoin via bitpay‘s platform. Settlements are made in New Zealand dollars into our bank account in New Zealand.

As the value of cryptocurrencies such as Bitcoin fluctuates heavily, option of payment by Bitcoin will not be included in your invoice unless payment via Bitcoin has been selected as your preferred payment method.

We then convert your payment method to Bitcoin and a revised payment method and amount (in BTC, or Bitcoin) will be shown, along with a limited time span to complete the transaction.

Payments not made within the stipulated timeframe must be made known to us immediately. Please note that all orders fully paid by Bitcoin is final and cannot be returned

For more information, please visit
Tags: bitcoin, crypto, cryptoccurency, BTC

“I am declaring the US$29 million cash in my bag, sir.”

According to the South China Morning Post, billions of Hong Kong dollars have been declared at the borders since new anti-money laundering laws came into force in July this year.

In total, it was estimated that HK$42 billion have been declared thus so far by the 3,500 travellers.

Source: South China Morning Post (2018)

One particular traveller stood out from the rest, carrying an extremely cool amount totaling HK$230 million (or US$29m) in cash! It was reported that: “[the] cash was stored in more than three waterproof bags while being delivered by hand to Hong Kong from an Asian country via sea.” It was reported that the huge wad of cash was closely guarded by hired guards, thankfully.

According to the SCMP, approximately 80% of those making declarations at the borders were from financial institutions, such as banks and money changers. These travellers came to Hong Kong mainly via sea, interestingly, and the rest came via air and a small majority via the land borders.

As previously reported by us back in June this year, cash sniffing dogs from Britain will be employed to sniff out undeclared cash. It appears that these dogs have had limited success since enforcement of this new law, as approximately 15 offenders have been busted carrying amounts over the limit and not declarding them.

For those leaving Hong Kong, you only need to declare amounts over the threshold if requested to do so by officials. As of 16 October 2018, the 3 months’ grace period no longer applies and thus, first-time offenders will be fined HK$2,000.

For repeat offenders? You will be fined HK$500,000 and/or jailed for a maximum of two years without prior warning.

Declare your cash and do not under”woof”stimate the sniffing powers of the canines!

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Hong Kong SAR

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Hong Kong to employ cash sniffing dogs at border checkpoints

Starting  from 16 July 2018, those entering Hong Kong border checkpoints must declare cash exceeding HK$120,000.00 (US$15,300.00) under the newly implemented Cross-Boundary Movement of Physical Currency and Bearer Negotiable Instruments Ordinance. 

This new law was passed in June 2017 by Hong Kong’s Legislative Council in a bid to combat money laundering, and is also known internationally as “R32 measures”, according to local media reports.

According to Hong Kong’s Customs and Excise Department, cash-detecting dogs trained in Britain to detect the crisp scent of cash will be stationed at border crossings, including Hong Kong international airport.

Previously, Hong Kong imposed no restrictions on the inflow and outflow of cash and other bearer negotiable instruments to and from the territory. Therefore this new law will be the first of its kind in Hong Kong.

Failure to declare and disclose amounts exceeding over HK$120,000 may results in monetary fines ranging from  HK$2,000 to HK$500,000, as well as jail time of up to two years.

Since 1991, Hong Kong has been a member of the international Financial Action Task Force (FATF) on Money Laundering, an intergovernmental organization created to combat money laundering and terrorist financing.

In total, 40 recommendations were made by the task force to combat money laundering and 9 special recommendations to counter terrorist financing.


For more information on the new requirement for travellers, contact our team at

T:    (+852) 3756 0158

Suite 2302, 23/F New World Tower 1
18 Queen’s Road Central
Hong Kong SAR