TechFlow reports on January 4, according to Hong Kong 01, Hong Kong's banking sector remains cautious toward cryptocurrencies. Under Hong Kong's Employment Ordinance, Bitcoin cannot be used as a form of wage payment. For mortgage applications, Bitcoin is neither regarded as a stable income source nor accepted as a qualified asset.
Currently, banks only recognize traditional assets such as cash, stocks, foreign currencies, Hong Kong properties, funds, and bonds. Cryptocurrency holders must convert their digital assets into fiat currency and maintain the funds in their accounts for at least three months before they can apply for a mortgage loan with a maximum loan-to-value ratio of 70%. If banks discover that an applicant’s funds originate from cryptocurrency transactions, they may reject the mortgage application due to money laundering risks, or even freeze the bank account.
