Hong Kong’s Crypto Conundrum: A Tale of Licenses and Ludicrous Burdens

On the twentieth day of January, this august body declared its dissent, bemoaning the eradication of the 10% threshold-a modest allowance that permitted asset managers to dabble in the digital realm without the onerous burden of additional licensing. Imagine, if you will, a portfolio manager, whose only sin is allocating a mere 1% of their fund to Bitcoin-that enigmatic beast of the financial wilderness. Under these draconian proposals, such a manager would be compelled to procure a full virtual asset management license, a task as ludicrous as requiring a fisherman to obtain a pilot’s license for casting his net too far from shore.







