Hong Kong greenlights retail trading of cryptocurrency (2024)

FAQs

Is crypto trading allowed in Hong Kong? ›

Currently, retail investors are allowed to purchase and trade cryptocurrency in Hong Kong. Cryptocurrencies are not considered legal tender but are treated as virtual commodities and digital currency.

Hong Kong on Tuesday launched six spot bitcoin and ether exchange traded funds — becoming the first in Asia to offer retail investors the ability to trade the cryptocurrencies at spot prices.

HashKey Exchange and OSL became the first licensed crypto exchanges in Hong Kong in August, allowing retail investors to trade bitcoin and ethereum using the platforms.

In order to sell your crypto in Hong Kong, you will need to use an exchange that allows you to exchange cryptocurrency into fiat currency such as the Hong Kong or U.S. dollar.

HONGKONG/SHANGHAI, April 15 (Reuters) - Hong Kong conditionally approved its first spot bitcoin and ether exchange traded funds (ETFs) on Monday, money managers said, paving the way for the city to become Asia's first to accept the cryptocurrencies as a mainstream investment tool.

Hong Kong follows a free trade policy and hence maintains basically no barriers on trade. There is no customs tariff on goods imported into or exported from Hong Kong. Import and export licensing are kept to a minimum.

Introduced in 1863, the Hong Kong dollar (Chinese: 港元), or HKD, is the official currency of Hong Kong. The symbol of the Hong Kong dollar is $, along with HK$, which is sometimes used to distinguish Hong Kong dollars from other dollar-denominated currencies.

Hong Kong is a trading hub for mainland China and the region; its trading firms are experts at promoting imported products and services in mainland China.

Buy Bitcoin Via Cryptocurrency Exchanges

Using a cryptocurrency exchange is my go-to on-boarding and off-boarding ramp to buy and sell Bitcoin in Hong Kong. There are several key ways to buy Bitcoin in Hong Kong via a cryptocurrency exchange such as Binance, OKX, or Huobi.

Yes, Hongkong is currently available on Coinbase wallet.

What is the Hong Kong Stock Exchange called? ›

Hong Kong Exchanges and Clearing Limited (HKEX)

Under the reform, The Stock Exchange of Hong Kong Limited (SEHK), Hong Kong Futures Exchange Limited (HKFE) demutualised and together with Hong Kong Securities Clearing Company Limited (HKSCC), merged under a single holding company, HKEX.

Malta: Often referred to as the “Blockchain Island,” Malta has positioned itself as a global leader in crypto regulation. The country offers a comprehensive adjustment framework, known as the Virtual Financial Assets (VFA) Act, which provides clarity on the licensing process and operational demands.

The short answer is yes, forex trading is legal in Hong Kong. The Securities and Futures Commission (SFC) is the regulatory body responsible for overseeing the forex market in Hong Kong. The SFC has issued a number of regulations to ensure that the forex market is fair, transparent, and orderly.

If there are large quantity of these coins (i.e. more than 500 pieces) or coins which are no longer legal tender, you should approach HSBC's Hong Kong Office (HSBC Main Building, 1 Queen's Road Central) or Mong Kok Branch (673 Nathan Road, Mong Kok, Kowloon) for the exchange.

Crypto.com exchange applied for a license from the Hong Kong Securities and Futures Commission. Currently, only two exchanges have acquired the Hong Kong SFC license. Crypto.com is gearing up to embrace increased regulatory compliance in Hong Kong.

While cryptocurrency is banned in mainland China and there are strict controls on capital movement across the border, people are still able to trade tokens such as bitcoin on crypto exchanges such as OKX and Binance, or through other over-the-counter channels.