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Mainland China VS Hong Kong: Cryptocurrency Policies in Two Extremes
Mainland China: Crackdown on Cryptocurrency Speculation
2013: Five ministries prevent Bitcoin risks
2017: Seven ministries ICO ban
2021: Ten ministries crack down on mining
2025: Eleven ministries crack down on RWA and stablecoins
Hong Kong: Cautious regulation, gradual opening
2018: First proposed "regulatory sandbox + licensing framework"
2020: Virtual Asset Trading Platform (VATP) licensing system
2022: Issued the "Virtual Asset Policy Declaration"
August 2025: Stablecoin regulations passed and come into effect
December 2025: The first compliant exchange HashKey submits for listing
The differences in the approaches of the two regions also reflect different market positioning and regulatory philosophies. What does everyone think?
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