Hong Kong citizens can directly use their securities accounts to purchase spot BTC and ETH without opening an account on an exchange

The Hong Kong Securities and Futures Commission has approved at least three fund companies to collaborate with licensed exchanges, allowing citizens to purchase spot Bitcoin and Ethereum with securities accounts. Currently, investors who want to buy virtual currencies need to open an account at a virtual currency exchange. Multiple fund companies have announced that they have obtained licenses from the Hong Kong Securities and Futures Commission and are collaborating with two licensed exchanges on the market to launch virtual asset fund products, which means that citizens can directly use securities accounts to purchase spot Bitcoin and Ethereum without the need to open an account at an exchange. Some industry insiders believe that this measure will help promote the development of virtual asset trading and increase tax revenue.