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Hong Kong has taken a significant step in recognizing cryptocurrency as a legitimate form of wealth. The city has approved Bitcoin and Ethereum holdings as proof of assets for investment immigration, marking a milestone in its financial landscape.
Crypto Recognized for Residency Applications
- Hong Kong has approved two cases where individuals used cryptocurrency to meet the HK$30 million ($3.8 million) asset requirement for investment immigration.
- The first case was approved in October 2024, involving an applicant who used Bitcoin as proof of assets.
- The second approval came on February 7, 2025, when another applicant successfully used Ethereum for the same purpose.
How the Process Works
- To qualify for investment immigration, applicants must prove ownership of HK$30 million in assets.
- Once approved, they are required to invest this amount within six months in eligible assets.
- Traditionally, stocks and bonds were accepted, but it remains unclear whether direct crypto investments or ETFs will qualify.
Government’s Evolving Stance on Crypto
- Hong Kong’s Investment Promotion Agency initially had no precedent for accepting cryptocurrency as proof of assets.
- The first application led to a month-long internal review before approval.
- Authorities have placed certain conditions, requiring crypto assets to be stored in cold wallets or on major exchanges like Binance.
More Crypto-Based Applications Expected
- Following these approvals, at least two more individuals are currently applying for investment immigration using cryptocurrency.
- This shift signals a growing acceptance of digital assets in Hong Kong’s financial system.
Conclusion
Hong Kong is emerging as a leader in crypto adoption, recognizing Bitcoin and Ethereum as legitimate forms of wealth. With investment immigration approvals now including cryptocurrency, this move could attract more high-net-worth individuals to the city. As regulations evolve, it will be interesting to see whether crypto investments beyond proof of assets—such as ETFs—will be included in the program.
This article reflects the opinions of the publisher based on available information at the time of writing. It is not intended to provide financial advice, and it does not necessarily represent the views of the news site or its affiliates. Readers are encouraged to conduct further research or consult with a financial advisor before making any investment decisions.
