Hong Kong Approves Bitcoin as Proof of Assets for Investors
According to reports, Hong Kong authorities have regarded Bitcoin and Ethereum as valid proof of investment immigration applications.
This milestone move indicates the region’s growing openness to digital assets in its financial system.
Hong Kong paves the way for crypto investors in immigration applications
according to Report The Hong Kong government is from Colin Wu and has approved at least two applicants for use. Bitcoin and Ethereum Meeting the investment immigration threshold.
Accountant Yaohe revealed that one of his clients has obtained approval from the Hong Kong Investment Promotion Agency by introducing Ethereum, which has a proof of assets worth HK$30 million (about US$3.8 million).
Another applicant received the approval requirement in October 2024, and the use of Bitcoin met the requirement. Although specific details have not been disclosed, sources have indicated that the two applicants may be from mainland China.
These approvals mark a turning point Hong Kong adopts cryptocurrencyimmigration policy.
Authorities confirmed that they made these decisions after extensive internal discussions. They also revealed that two more people submitted cryptocurrency holdings as part of their application process.
To be eligible for investment immigration, applicants must prove that they have at least HK$30 million (US$3.85 million) of assets and commit to invest The same number in Hong Kong Within six months.
Government requires crypto assets to be stored in cold wallets or retained Famous communications like binance.
Historically, investment immigration in Hong Kong has mainly revolved around stocks. However, it is not clear whether to invest directly in cryptocurrency or not Crypto-based exchange-traded funds (ETFs) Eligible under these new approvals.
A successful applicant initially receives a two-year visa and requires three renewals before obtaining a permanent residence period. Authorities will monitor asset holdings during this period to ensure compliance.
This move reflects Hong Kong’s ambition to strengthen its ambition as a global hub for digital financing. The city has given priority over the years Regulatory framework for stablecoins Cryptocurrency Exchange Leadership in the digital asset industry in Asia.
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