Hong Kong citizens can directly purchase spot BTC and ETH with their securities accounts without having to open an account on the exchange

The Hong Kong Securities Supervision Commission has approved at least three fund companies to partner with licensed exchanges to allow the public to purchase spot Bitcoin and Ethereum through securities accounts. At present, investors who want to buy virtual currencies need to open an account at a virtual currency exchange. Several fund companies have announced that they have been granted licenses by the Hong Kong Securities Supervision Commission to cooperate with two licensed exchanges in the market to launch virtual asset fund products, that is, citizens can directly use securities accounts to buy spot Bitcoin and Ethereum without having to open an account on the exchange. Some industry players believe that the measures will help promote the development of virtual asset trading and increase tax revenue.