One article to understand: Does Hong Kong allow Bitcoin transactions?

Not long ago, Hong Kong has announced that it has approved the listing of Bitcoin ETF and Ethereum ETF and allowed investors to purchase it. This news has made Hong Kong the title of International Financial Center. However, the current purchase of Bitcoin ETF is only limited to securities accounts. , for this reason most investors still want to buy Bitcoin, so does Hong Kong allow Bitcoin trading? That’s what investors need to pay attention to. Judging from the current data analysis, Hong Kong allows Bitcoin transactions, and the policy for Hong Kong Retail investors to purchase Bitcoin has been implemented as early as June 2023. The editor below will tell you in detail.

Is Bitcoin trading allowed in Hong Kong? Hong Kong allows Bitcoin trading, and the Hong Kong securities regulator

2023 has proposed the latest policy to allow retail investors to purchase large-cap cryptocurrency tokens such as Bitcoin and Ethereum. The Securities and Futures Commission (SFC) also subsequently stated that it will allow retail investors to trade liquid digital tokens on licensed virtual asset platforms, which will provide certain supervision for the once vibrant but unregulated cryptocurrency investment activities. Oversight and investor protection. The platforms will be licensed through the cryptocurrency regulatory regime, already effective June 1, 2023, and will only be able to offer what the Securities and Futures Commission calls “qualified large-cap virtual assets” to retail investors. Such tokens are included in at least two acceptable indices issued by at least two independent index providers, the SFC said, adding that the consultation period for the policy ended on March 31. According to the Securities and Futures Commission’s announcement, operators of virtual asset trading platforms planning to apply for licenses should begin to review and modify relevant systems and control measures to prepare for the new system. Operators that do not intend to apply for a license should make preparations to wind down their operations in Hong Kong in an orderly manner. The SFC plans to publish several lists on its website to list the regulatory status of various virtual asset trading platforms to the public, and will continue to cooperate with the Investor and Financial Education Committee to strengthen investor education for the Hong Kong public. 2022On October 31, the Hong Kong SAR government officially issued the "Policy Declaration on the Development of Virtual Assets in Hong Kong" at the Hong Kong FinTech Week, clarifying the Hong Kong SAR government's efforts to develop a dynamic virtual asset industry and ecosystem in Hong Kong. formulated policy positions and guidelines. Prior to this, the Hong Kong government had stated that it wanted to become a global virtual asset center. Since then, Hong Kong’s crypto asset ecosystem has developed rapidly. 2022On December 13, CSOP Asset Management Co., Ltd. officially launched the first batch of cryptocurrency ETFs in Asia: CSOP Bitcoin Futures ETF (3066.HK), CSOP Ethereum Futures ETF (3068.HK) . This also makes the Hong Kong stock market the first capital market in Asia that can directly provide investors with Bitcoin and Ethereum futures ETFs. Is Bitcoin trading legal in Hong Kong? Bitcoin trading is legal in Hong Kong. The Hong Kong Securities and Futures Commission recently announced that starting from June 1, all central virtual asset trading platforms that operate business in Hong Kong or actively promote to Hong Kong investors will need to obtain a license from the Securities and Futures Commission. You can know: Starting from June 1, 2023, trading cryptocurrency (virtual currency) will be officially legalized in Hong Kong. Hong Kong's Securities and Futures Commission said in a consultation paper that individual investors will be allowed to trade larger denominations of virtual currencies on exchanges licensed by the agency, provided safeguards such as knowledge tests, risk profiles and reasonable risk exposure limits are put in place. At the same time, although it did not clearly state which large virtual currencies will be allowed to be purchased by individual investors, the agency stated that Bitcoin should be included in at least two acceptable investable indices provided by independent providers, one of which should be in the traditional financial field. Have experience. Therefore, trading Bitcoin is legal in Hong Kong. However, the Hong Kong Monetary Authority is cautious about cryptocurrencies. Its official position is to advise the public to exercise caution when participating in cryptocurrency investment and trading activities. Regulatory reforms in Hong Kong have come under scrutiny, in part to provide clarity on cryptocurrency governance.

The above is the detailed content of One article to understand: Does Hong Kong allow Bitcoin transactions?. For more information, please follow other related articles on the PHP Chinese website!