HashKey Jeffrey: Interpretation of Hong Kong's policy of enabling crypto-asset investment immigration

The Hong Kong Investment and Promotion Agency approved the policy of using crypto assets as a proof of investment immigration assets, which is an important measure for Hong Kong in the field of financial innovation and has attracted widespread attention from both inside and outside the industry. This policy not only provides a new immigration channel for global high-net-worth digital asset holders, but also injects new vitality into the Hong Kong financial market, and paves the way for the development of the Web3 industry. During the implementation of the policy, the policy faces huge challenges such as proof of fund source and asset price fluctuations. As a key platform in the field of crypto asset trading in Hong Kong, HashKey plays an important role in the implementation of this policy and plays a role in helping solve these difficulties. Important role.

The significance of crypto asset investment immigration policy

Hong Kong is actively exploring the integration path of the digital economy and traditional finance, making innovative adjustments in investment immigration policies, and allowing crypto assets to be used as asset proof. This policy has been gradually promoted from the relevant approval cases of Bitcoin and Ethereum, demonstrating its determination and practice in financial innovation.

In October 2024, the Hong Kong Investment and Promotion Agency accepted the first investment immigration application to prove its net assets of HK$30 million in Bitcoin. The applicant provides detailed transaction records, wallet address proof, part of the exchange bill, and uses the asset proof report issued by a professional certified public accountant to explain the holding volume of Bitcoin, acquisition channels and market valuation. After about a month of strict review, the application was approved and became the first successful case. In February 2025, another applicant submitted an application with Ether, which was professionally certified and accompanied by detailed transaction records and transfer vouchers, as asset proof. The approval process was more mature and efficient, and was finally approved successfully.

These approval cases are of far-reaching significance. First, this policy has opened the door to Hong Kong for a large number of crypto asset holders around the world, significantly broadening the audience of investment immigration. Judging from the current development status of the crypto industry, due to different regional policies, many Web3 practitioners around the world cannot fully develop their work in their homeland. This policy in Hong Kong has also brought new development opportunities to Web3 practitioners. and hope.

Secondly, the inflow of crypto assets has brought new liquidity to the Hong Kong capital market and enriched the investment entities and asset classes. This is not simply expanding the list of investment targets, but creating a dual-track mechanism for "on-chain-off-chain" asset verification. . Traditionally, Hong Kong's financial market has mainly invested in stocks, bonds and real estate, and digital assets have been on the brink for a long time. The success of the immigration approval for crypto asset investment marks the regulatory recognition and formal application of digital assets in the investment field, attracting global crypto asset holders, prompting financial institutions to reevaluate the market value and risk management strategies of digital assets, laying the foundation for financial innovation. The foundation is. For example, this may prompt financial institutions to develop more financial products and services related to crypto assets, enrich investment product lines, and meet the needs of different investors. This not only enhances market vitality, but also enhances the international competitiveness of Hong Kong's financial market.

Finally, this move is undoubtedly a major benefit for the Web3 industry. By creating a more friendly policy environment, Hong Kong has attracted global practitioners, entrepreneurs and enterprises to gather, further promoting its strategic goal of becoming a global Web3 industry highland. The legalization of digital assets has lowered the industry's entry threshold and attracted a large number of entrepreneurs and innovative companies to flock to the Hong Kong market. This not only helps Hong Kong to take the lead in emerging technologies and digital economy, but also creates favorable conditions for the future integration of technology and finance.

Challenges in the approval of crypto asset investment immigration

Although Hong Kong's crypto asset investment immigration policy is innovative and positive, it faces many challenges in the approval process.

The source of funds proves to be a big problem. Many applicants have a variety of ways to obtain crypto assets, such as mining, over-the-counter transactions or gifts from friends. These methods lead to their lack of formal bank statements and continuous transaction records, making it difficult to clearly prove the source of assets, and there is "coins that can be taken out, money says Not clear”. At the same time, the loss of historical data on some exchanges, coupled with the anonymity of the blockchain, makes it difficult to correspond to the wallet address and the applicant's real identity, increasing the difficulty of review by accountants and regulatory authorities, and affecting the accuracy and efficiency of approval.

The sharp fluctuations in the prices of crypto assets also cause trouble for approval. The approval requirements are to prove that the asset market value meets certain standards, such as HK$30 million, but the prices of crypto assets such as Bitcoin and Ethereum may fluctuate significantly in a short period of time. There are differences in the valuation methods adopted by different accountants, such as real-time market value or average value in the past six months, which further increases the uncertainty of the approval process and affects the fairness and stability of the approval results. For example, during the approval period, a sharp drop in the price of crypto assets may cause assets that originally met the market value requirements to no longer meet the standards, and the results obtained by different valuation methods may also be far different, causing difficulties in approval decision-making.

These challenges not only affect the smooth progress of immigration approval for crypto asset investment, but also put forward higher requirements on the effectiveness of Hong Kong's financial supervision and the stability of the financial market. How to deal with these challenges and ensure the effective implementation of policies is a key issue that Hong Kong financial regulatory authorities and relevant institutions need to pay attention to.

The key role of HashKey Exchange in meeting challenges

Faced with many challenges in the approval of crypto asset investment immigration, HashKey, as Hong Kong's leading compliance platform, will play a vital role with its professional services and a complete business system.

As mentioned earlier, many applicants may find it difficult for them to clearly prove the source of their assets due to the diverse ways of obtaining crypto assets.

HashKey Exchange has a comprehensive license system to ensure that its operations are legal and compliant, as well as a complete KYC and KYT systems, strictly comply with AML and CTF requirements, ensuring that each transaction is transparent and compliant and the flow of funds is traceable. Applicants can use the platform transaction records as asset proof materials, and their authenticity and credibility are recognized by regulators to provide strong support for investment immigration applications. For example, during the application process, the platform's transaction records can clearly display the trading trajectory and holding of assets, meeting regulatory review requirements.

Regarding the asset custody needs of immigrant investors, HashKey Exchange currently custody more than 20 mainstream digital assets, adopts bank-level vault management standards and provides insurance protection to reduce the risk of investor asset custody. The platform provides compliant fiat currency inlet and exit channels, supports Hong Kong dollar and US dollar exchange, and over-the-counter transactions can support up to US$30 million in bulk transactions. It facilitates investors to convert digital assets into funds that meet Hong Kong investment requirements to meet the needs of investment immigration for subsequent investment operations. This ensures the safety and liquidity of the investment immigration applicants, allowing them to make subsequent investments smoothly and avoids the impact of immigration applications due to asset custody and fund conversion issues.

The latest news is also needed here. On February 17, HashKey Capital, a subsidiary of HashKey Group, launched the HashKey FTSE Digital Assets 20 Index Fund (HashKey 20), the first cryptocurrency multi-token index fund approved by the Hong Kong Securities Regulatory Commission (SFC). New Capital Investor Entry Program (CIES), i.e. investors who invest in immigration can allocate up to HK$10 million (part of the investment threshold of HK$30 million) to the HashKey 20 Index Fund, so as to meet the residence investment requirements while achieving the cooperation Regulations on digital asset investment.

Ending

The Hong Kong Investment and Promotion Agency approved crypto assets as proof of investment immigration assets, marking a major breakthrough in financial innovation and opening up a new immigration channel for global high-net-worth digital asset holders. Despite challenges such as proof of funding sources and price fluctuations, strict review processes and regulatory measures ensure the legality and stability of asset proofs.

In the implementation of the policy, HashKey Exchange, as an important platform in the industry, demonstrates the core competitiveness of one-stop compliance services, and will give full play to its advantages in compliance operations, professional services and strong technical support to invest in immigration applicants Provide reliable services, through the KYC/KYT system, transparent transaction records and strict risk control, it provides applicants with reliable asset certificates. At the same time, it ensures asset liquidity and security through multi-currency custody and convenient fiat currency deposit and withdrawal services, and also provides The effective implementation of Hong Kong's financial supervision provides strong support, and the two aspects together contribute to Hong Kong's financial innovation. At the same time, the "HashKey FTSE Digital Assets 20 Index Fund" launched by HashKey Capital is a regulated multi-token investment tool, which not only standardizes asset valuations, but also provides stability for investors who meet immigration requirements. , risk-diversifying asset proof options.