- Cryptocurrency transactions are illegal in mainland China but legal in Hong Kong, attracting Chinese visitors to the city's crypto shops.
- Hong Kong's lightly regulated bricks-and-mortar crypto shops allow customers to purchase digital assets with cash, often without disclosing the origin of the money or their identity.
- Mainland Chinese customers now make up a significant portion of customers at Hong Kong's crypto shops.
- Most over-the-counter (OTC) stores in Hong Kong remain outside the remit of Hong Kong's Securities and Futures Commission.
- Some OTC shops welcome more regulation to improve the development of the industry.
Hong Kong’s crypto grey zones lure Chinese visitors
The city has tightened online regulation but physical stores have less oversight
William Langley
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