BTC PULSE
No Result
View All Result
Play Now
No Result
View All Result
BTC PULSE
No Result
View All Result
Play Now
Home Bitcoin

China’s Anti-Crypto Stance Unaffected by Hong Kong Developments

by BTCPulse
May 5, 2023 - 2:30 pm
in Bitcoin
A stunning view of the Hong Kong skyline at dusk, with prominent cryptocurrency symbols like Bitcoin and Ethereum, reflecting the city's growing adoption of digital currencies.

Hong Kong’s Growing Crypto Adoption

Hong Kong has been making strides in cryptocurrency adoption, with some Chinese state-affiliated banks opening accounts to serve crypto clients and CPIC Investment Management, a China government-backed firm, launching two cryptocurrency funds in April. However, these developments do not signal any change in mainland China’s anti-crypto stance or its approach to regulating Bitcoin.

CPIC CEO Chenggang Zhou’s Insight

Chenggang Zhou, CEO of CPIC Investment Management, states that the Chinese government’s backing of the firm does not imply any changes in mainland regulatory regulations or the government’s attitude toward crypto. He explains that CPIC Investment Management operates as a Hong Kong entity, regulated by the Securities and Futures Commission, which allows them to invest in cryptocurrencies without breaching any regulations or laws.

China’s Unwavering Anti-Crypto Stance

Zhou notes that China has maintained its anti-crypto stance for a long time, even before banning crypto entirely in September 2021. He does not expect the local government to change its crypto policies in the foreseeable future.

David Lesperance, founder of Lesperance & Associates, echoes Zhou’s sentiment, stating that it is hard to imagine China loosening its control over the ability for Chinese nationals to use crypto. Lesperance highlights that the crypto market in mainland China remains effectively shut down, raising enforcement concerns about Chinese clients using Hong Kong exchanges to get money out of China.

Strict KYC Policies on Hong Kong Crypto Exchanges

Zhou also emphasizes that crypto exchanges in Hong Kong have strict Know Your Customer (KYC) policies, aiming to restrict mainland Chinese investors on their platforms. He does not expect any licensed crypto exchanges in Hong Kong to accept onshore mainland citizens to trade in the exchanges.

Conclusion

In conclusion, the developments in Hong Kong’s cryptocurrency market should not be interpreted as a sign of a shift in mainland China’s strict regulatory stance on crypto. The Chinese government is likely to maintain its anti-crypto policies in the foreseeable future, even as Hong Kong embraces the opportunities presented by the cryptocurrency industry. It is important to understand that the regulatory environment in Hong Kong is distinct from that of mainland China, and the two should not be conflated. As crypto exchanges in Hong Kong continue to implement strict KYC policies, it is evident that the separation between the markets will persist, keeping mainland Chinese investors at bay.

Tags: BitcoinChina
BTCPulse

BTCPulse

Hamed, the cryptowriter, wields the power of words to unravel the mysteries of blockchain. With precision and creativity, he transforms complex concepts.

Related Posts

Green Minerals headquarters and Bitcoin symbol representing strategic investment deal

Bitcoin Inflows From 2024-2025 Break 15-Year Record, Hitting $625B

September 15, 2025

Bitcoin on-chain inflows reached $625B in 1.5 years, outpacing 15 years of growth. Institutional demand and Fed policy...

Wall Street financial district with Bitcoin symbol representing institutional adoption

Wall Street Veteran Jordi Visser Predicts Big Bitcoin Allocation Boost by Year-End

September 14, 2025

Jordi Visser forecasts US institutions will increase Bitcoin allocations before year-end, boosting Q4 demand and setting up portfolios...

China Renaissance invests $100M in BNB through MoU with YZi Labs

China Renaissance Commits $100M to BNB in Landmark Treasury Move

August 22, 2025

China Renaissance invests $100M in BNB, signing MoU with YZi Labs to push adoption and regulated listings in...

BlackRock CEO Larry Fink speaking at the World Economic Forum

Bitcoin’s biggest Wall Street backer takes the wheel at World Economic Forum

August 15, 2025

BlackRock CEO Larry Fink joins André Hoffmann as interim co-chair of the WEF board, signaling stronger ties between...

View All
BTC-Pulse LogoTransparent

© 2024 BTC-PULSE. Disclaimer: The content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice.

Info

  • Learn
  • Price Prediction
  • Events
  • Press Releases
  • Sitemap

Company

  • About Us
  • Terms of Service
  • Privacy Policy
  • Contact Us
  • Advertise

News

  • Altcoins
  • Bitcoin
  • Ethereum
  • NFT
  • Regulation
  • WEB 3.0

©2024 BTC-PULSE – All right Reserved.

No Result
View All Result
  • About Us
  • Advertise
  • BTC-PULSE
  • Contact Us
  • Events
  • Privacy Policy
  • Sitemap
  • Terms of Service