Questions tagged [hong kong]

henry_rose_scientist Sat Jun 08 2024 | 5 answers 1000

Is OKX indeed considered legitimate in Hong Kong? Given that OKX HK is mandated to adhere to the stipulations outlined in the Guidelines for Virtual Asset Trading Platform Operators, or the VATP Guidelines, along with the Anti-Money Laundering Ordinance, the Securities and Futures Ordinance, and any other pertinent directives and circulars issued by the Securities and Futures Commission, does this indicate that it is a regulated and therefore trusted platform for virtual asset trading in Hong Kong?

mia_harrison_painter Fri Jun 07 2024 | 7 answers 1517

Could you kindly enlighten me on whether bitcoin can be utilized in Hong Kong? I've heard that the Hong Kong Securities and Futures Commission has awarded initial approval to 11 cryptocurrency exchanges, marking the initial step in granting virtual asset trading platform licences since 2022. This news seems to indicate that cryptocurrency transactions are becoming more legitimate in Hong Kong. However, I'm still a bit uncertain about the practical application of bitcoin in the city. Could you provide some clarity on this matter? Thank you in advance for your assistance.

Michele Fri Jun 07 2024 | 7 answers 1556

Could you please elaborate on the licensed crypto exchanges operating in Hong Kong? I understand that around two dozen firms submitted applications for licensure by the February 29th deadline. However, I'm interested in knowing more about the two fully licensed digital-asset exchanges currently operating in Hong Kong. Could you provide me with the names of these exchanges, perhaps HashKey Exchange and OSL Group? Additionally, could you also share any information regarding their operations, services, or any distinguishing features that might make them stand out from other crypto exchanges? Thank you for your assistance in this matter.

Andrea Fri Jun 07 2024 | 7 answers 1257

Could you please clarify the tax situation regarding cryptocurrencies in Hong Kong? I've heard that unlike other countries, profits from simply buying and selling cryptocurrencies are tax-free in Hong Kong. Is this indeed the case? Also, does this mean that only individuals who trade frequently are required to pay taxes on their crypto transactions? Additionally, is there no capital gains tax on cryptocurrencies in Hong Kong? I'd appreciate it if you could provide some clarity on these matters.

Giuseppe Fri Jun 07 2024 | 5 answers 1114

Could you please clarify if cryptocurrencies are banned in Hong Kong? I've read that the Hong Kong Securities and Futures Commission has granted initial approval to 11 cryptocurrency exchanges to continue operating in the city, marking the first step towards granting the first virtual asset trading platform (VATP) licences since 2022. This suggests that cryptocurrencies are not banned, but rather regulated. Is this correct?