Cryptocurrency
Expansion of Cryptocurrency Investment Options in Hong Kong
Thursday. August 29 at 9:30 AM
1 min. readRetail cryptocurrency investors in Hong Kong now have more choices for investment following the approval of Avalanche and Chainlink coins on Hashkey, one of the two fully licensed exchanges in the region. Previously, retail investors were limited to Bitcoin and Ether. Professional investors with portfolios exceeding 8 million Hong Kong dollars or financial institution representatives have a broader range of cryptocurrencies to select from. Avalanche (AVAX) and Chainlink (LINK) are now tradable against the US dollar on Hashkey. The decision to list these coins was based on their lack of legal conflicts compared to other cryptocurrencies with larger market capitalizations. Hashkey's CEO mentioned that more cryptocurrencies could be approved for retail trading in the near future. Hong Kong permitted retail crypto trading in August 2023, with Hashkey and OSL being fully compliant exchanges. Other exchanges operate under a 'deemed to be licensed' status, while the Securities and Futures Commission ordered unlicensed exchanges to cease operations by June 1.