Hong Kong Recognizes Bitcoin and Ethereum for Investment Immigration

Highlights:

• Hong Kong has added Bitcoin and Ethereum to its list of accepted digital assets for its investment immigration applications.
• The Legislative Council is drafting laws that will regulate stablecoins and support digital finance.
• Johnny Ng is advocating for the quick adoption of Bitcoin as a strategic national reserve asset in China.

Hong Kong has added Bitcoin and Ethereum to its list of accepted digital assets for its investment immigration applications. A new client was approved under the investment immigration program after using HK$30 million worth of Ethereum to apply for the program. The Hong Kong Investment Promotion Agency approved the application after a review process. Another applicant used Bitcoin in 2024 to apply for the same program and was approved.

BREAKING:

🇭🇰HONG KONG OFFICIALLY ACCEPTS #BITCOIN AND $ETH AS PROOF OF
ASSETS FOR INVESTMENT TO APPLY
FOR RESIDENCY.

ASIA IS GETTING READY!! pic.twitter.com/Ps30URVfHK

— Ash Crypto (@Ashcryptoreal) February 8, 2025

A growing number of users who are interested in the program are mainly from mainland China. Candidates who want to be admitted to the program must provide documentation that indicates that they own at least HK$30 million in assets. In addition, they must commit that they will invest an equivalent amount within six months. The traditional investment criteria used to focus on stocks but digital assets are increasingly becoming an option.

Officials have yet to specify whether investments in cryptocurrency ETFs will satisfy future compliance standards. The approval signals a shift in how investment assets are treated. The Hong Kong Investment Promotion Agency took a month to review Bitcoin and Ethereum as part of their acceptance process.

Hong Kong provides visa authorization for applicants that lasts two years and is renewable when they continue to invest. Investors should store their cryptocurrency on exchanges like Binance or in cold wallets. Singapore has accepted cryptocurrency investments for immigration for some time, but applicants must verify the source of their funds.

Lawmakers Discuss New Rules for Stablecoins and Cryptocurrency Investments

The immigration program previously required applicants to invest in traditional assets. The recent approvals indicate the possibility of the body adding more investment opportunities. Authorities have not yet declared approval status for cryptocurrency ETFs or direct holdings. The authorities are currently assessing both the opportunities and potential challenges for admission of new investment options.

The Hong Kong Legislative Council is drafting laws that will regulate stablecoins. The Stablecoins Bill requires stablecoin issuers to maintain sufficient liquid assets. Moreover, they must register with the Hong Kong Monetary Authority. Hong Kong officials predict these regulations will create better financial stability and foster digital financial innovation. Currently, China owns approximately 190,000 Bitcoins and it ranks second after the U.S.

Hong Kong Explores the Future of Digital Assets in the Global Economy

Hong Kong lawmaker Johnny Ng is advocating for the quick adoption of Bitcoin as a strategic national reserve asset. Lawmakers have called for lawmakers to accelerate regulations to match those of other countries. He has also recommended that mainland China should actively support stablecoin pilot initiatives in selected regions.

昨天美國AI和加密貨幣沙皇David Sacks聯合參眾兩院共和黨代表舉行記者會，進一步闡述其對加密貨幣友好立場，包括宣布國會正組建一個兩院工作小組，制定加密貨幣監管法規。我判斷加密貨幣發展是美國新政府上場後整個政壇其中一個最大共識。David… pic.twitter.com/9camnQsQL5

— Johnny Ng 吴杰庄 (@Johnny_nkc) February 5, 2025

China relies heavily on the Greater Bay Area, which consists of Hong Kong, Macao, and Shenzhen, for its economic plans. The region serves as a central location for blockchain innovation and artificial intelligence. According to Ng, adopting cryptocurrency will strengthen China’s position in technology.