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Hong Kong Recognizes Bitcoin & Ethereum for Investment Visa A Landmark Decision for Crypto in Hong Kong Hong Kong has made a groundbreaking move by officially accepting Bitcoin (BTC) and Ethereum (ETH) as valid proof of wealth for its Capital Investment Entrant Scheme (CIES). This program allows high-net-worth individuals to apply for residency by providing a net worth of at least HK$30 million (approximately US$3.8 million). While cryptocurrencies are now accepted for asset verification, they are not considered “permitted assets” for actual investment under the scheme. Applicants must convert their BTC or ETH holdings into qualifying investments within six months. This policy aligns with Hong Kong’s broader push to establish itself as a global digital finance hub. Eligibility and Verification Process To qualify under the CIES using Bitcoin or Ethereum, applicants must meet specific criteria: Net Worth Requirement: Applicants must prove at least HK$30 million in total assets.  Certified Valuation: Cryptocurrency holdings must be assessed by a certified public accountant to confirm their value.  Conversion to Permitted Assets: Within six months of approval, applicants must reinvest the crypto holdings into assets such as listed securities, Hong Kong real estate, or local financial instruments. Two successful applications from mainland China have already been approved under this policy—one in October 2024 using Bitcoin and another in February 2025 using Ethereum. Impact on Crypto Market & Investor Sentiment Boosting Bitcoin & Ethereum Demand The inclusion of Bitcoin and Ethereum as recognized assets in Hong Kong’s investment visa program could drive institutional and high-net-worth investor demand. This decision strengthens Bitcoin and Ethereum’s credibility as legitimate financial assets, potentially influencing other jurisdictions to follow suit. Increased adoption of cryptocurrencies by regulatory frameworks typically leads to higher demand, reducing available supply on exchanges. Given the liquidity constraints in the Bitcoin and Ethereum markets, this shift could…

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Filed under: News - @ February 12, 2025 9:26 am