Bitcoin News

Only Millionaires can trade Bitcoin in Hong Kong.

Only Millionaires can trade Bitcoin in Hong Kong.

Hong Kong regulators have decided to ban retail trading in Hong Kong. This ban happened after several months of intense speculation about a likely prohibition.

Reuters report

According to a Reuters report on Friday, the financial services and treasury Bureau of Hongkong have released results of its consultation on a possible retail Crypto trading ban. However, this began back in November 2020.

Qualified Investors Only

Hong Kong’s FSTB has called for a comprehensive licensing regime for Crypto exchanges as part of its conclusion. Moreover, it is restricting trading only to qualified investors. However, as per the current HK law, only individuals with portfolios worth 8 million HK dollars are qualified as professional investors.


The retail Crypto trading ban is mandatory for the FSTB. However, at least in the early stages of the comprehensive Crypto licensing regime, the ban is necessary. FSTB is reportedly planning to represent its conclusions before legislators in Hong Kong. Moreover, it is to facilitate the proposal’s passage into the law.

Licensing Regime

If the law gets passed, the proposed licensing regime will also replace the current opt-in paradigm for the Crypto exchanges of the city.

Limiting the Trade

By limiting cryptocurrency trading to portfolios worth at least $1 million, FSTB potentially excludes up to 93% of the city’s population from gaining access to cryptocurrency trading.


However, several stakeholders expressed their dissatisfaction with the plan and argued that the move was inimical to the government’s goal of encouraging financial innovation.

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.