Hong Kong," he said, expressing his hope that institutional investors will pay more attention to Hong Kong's cryptocurrency industry.
Chairman Leon said, "What the cryptocurrency industry wants most is institutional investors.
It's probably funds. Hong Kong has established regulations centered on investor protection so that when institutional investors such as banks and brokers enter the market, they can invest with confidence.
"I want people to pay more attention to cryptocurrency trading platforms," he said. In Hong Kong, retail investors are required by the government to use virtual asset trading platforms (VATP, or
Only seven cryptocurrencies can be invested in at exchanges that have been issued a Platform license. Bitcoin (BTC), Ethereum (ETH), Tether (
The seven are: USDT, USDC, Avalanche (AVAX), Chainlink (LINK), and Uniswap (UNI).
On the other hand, institutional investors are broadly permitted to invest in crypto assets.
Last year, Hong Kong authorities approved Bitcoin and Ethereum spot exchange-traded funds (ETFs), which has led to an influx of institutional funds.
New derivative products are also being created. For example, HashKey Global, an exchange with a Hong Kong VATP license, launched a 10x leveraged Bitcoin and Ethereum exchange last year.
Recently, Hong Kong has been trying to recapture the "digital asset hegemony" that was lost to Singapore amid the political uncertainty of 2019. More and more institutional investors have started to look to Hong Kong.
While retail (individual) investment is important, there is also a growing consensus that institutional participation is crucial for the development of the industry as a whole.
Woo Deok Soo, head of BlockDemon Asia, said, "In fact, Hong Kong's retail market has several
"It is true that the competitiveness is weak because you can only invest in coins that are not listed in the Hong Kong Stock Exchange," he said, but added, "However, the environment is too good for corporations to invest in. Hong Kong is a market where retailers can also enter, but corporations cannot.
"Of course, I think they will be able to enter the market," he said. Individual investors also invest in crypto assets, although the types are limited. However, corporations, which are much more qualified than individual investors, should be able to invest more freely.
"Hong Kong is already a financial center, but in the future it will become a global hub for the cryptocurrency industry," said Leung.
"Talents are coming into Hong Kong. In response, regulators will put in place more regulations to encourage 'responsible innovation,'" he said.
2025/02/20 10:26 KST
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