Hong Kong Lawmaker Proposes Bitcoin in Investment Immigration Program

Bitcoin Crypto Regulation Hong Kong

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Jai Pratap

Jai Pratap

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Jai serves as the Asia Desk Editor for Cryptonews.com, where he leads a diverse team of international reporters. Jai has over five years of experience covering the web3 industry.

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Last updated:

November 13, 2023 01:10 EST

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A Hong Kong lawmaker has proposed to incorporate Bitcoin trading into the city’s licensed exchanges in the revived investment immigration program.

The initiative signals a progressive shift in embracing cryptocurrencies within the sphere of high-stakes financial endeavors.

Hong Kong Prepares to Revive Investment Immigration Program

After an eight-year hiatus, Hong Kong is gearing up to revitalize its investment immigration program, unlocking opportunities for prospective immigrants with a substantial entry threshold of around US$3.84 million, local media outlets reported.

This resurgence positions Hong Kong strategically in the global economic landscape.

The lawmaker seeks to infuse innovation into conventional investment channels. If approved, the inclusion of Bitcoin in the investment immigration program could attract a new wave of high-net-worth individuals eager to explore the potential advantages of cryptocurrency within the regulated framework of licensed exchanges.

Bitcoin could emerge as a compelling opportunity for investors eyeing participation in the city’s investment immigration program. The proposal aligns seamlessly with the city’s identity as a financial hub, showcasing a readiness to embrace the future of finance through the integration of decentralized digital currencies.

With the entry threshold standing at approximately $3.84 million, the revived investment immigration program positions Hong Kong as an enticing destination for affluent individuals seeking not just financial stability but also a progressive approach to wealth management.

As reported earlier, Hong Kong is also considering allowing spot crypto ETFs in the coming time given regulatory clearance.