Hong Kong | 2021

Cryptocurrency adoption in Hong Kong in 2021



of Hongkongers
own cryptocurrency

How many cryptocurrencies owners in Hong Kong?

It is estimated that over 245 thousand people, 3.27% of Hong Kong’s total population, currently own cryptocurrency.

What is the nature of cryptocurrencies like in Hong Kong?

Cryptocurrencies have existed in something of a grey area in Hong Kong for some time, with talk of regulation rife for the last five years. Such regulation will also likely be against the backdrop of China’s own state-run cryptocurrency, so Hong Kong will want to ensure any rival cryptocurrencies are subject to oversight.

Cryptocurrencies's rising popularity in Hong Kong

  • Cointelegraph: Hong Kong and China test cross-border digital yuan, says PBoC official – April 2021
    China has completed its first cross-border pilots of the digital yuan with Hong Kong. Wang Xin, director of the People’s Bank of China research bureau, said that the Hong Kong Monetary Authority and the PBoC have conducted technical tests on the cross-border use of China’s central bank cryptocurrency.

  • Cointelegraph: Huobi secures cryptocurrencies asset management license in Hong Kong – March 2021
    Huobi, one of the largest cryptocurrency exchange platforms in China, appears to be pursuing further expansion of its business following the recent regulatory clearance in Hong Kong. According to an official announcement by Huobi Technology Holdings Ltd., the company’s asset management subsidiary has secured approval from the Hong Kong Securities and Futures Commission to launch a cryptocurrency asset management portfolio.

  • Cointelegraph: China’s central bank plans digital yuan pilot, payment to Hong Kong – December 2020
    China’s central bank and the Hong Kong Monetary Authority, or HKMA, are in the preliminary stages of piloting the digital yuan for cross-border payments — underscoring another key development in the rollout of a central bank cryptocurrency, or CBDC.

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