Guotai Junan Securities (Hong Kong), part of Guotai Junan International, has become the first brokerage from mainland China to get official approval to offer crypto trading in Hong Kong.
The approval came from Hong Kong’s Securities and Futures Commission (SFC) on Tuesday. It updates the company’s current license, which already allowed it to trade regular stocks, to now include crypto trading as well. Thus the company is enabled to provide cryptocurrency-based services via SFC-licensed platforms by means of a specific type of account known as an omnibus account.
By virtue of the new license, clients of Guotai Junan can now trade the most sought-after cryptocurrencies such as Bitcoin, Ethereum, and stablecoins through its platform. This marks a significant step in Hong Kong’s initiative to make crypto trading secure and easier for institutional investors and at the same time, it positions the city as a primary digital assets hub in Asia.
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What is the current status of the cryptocurrency industry in China?
Cryptocurrency trading and mining are officially banned in mainland China. Since September 2021, the government has made any crypto-related financial activity, including exchange services and mining, completely illegal. Institutions, traditional banks, and payment platforms are barred from facilitating such transactions
Enforcement remains strict, though many retail and even some institutional investors still find offshore or decentralized avenues to engage in crypto .
Despite the ban, a surprisingly large number of Chinese citizens still hold and trade digital assets via informal or overseas channels. According to available estimates:
- Roughly 59 million individuals in China own some form of cryptocurrency, about 4.1% of the population.
- Mainland investors also posted around US $1.15 billion in gains in 2023 alone, ranking among the top countries by on‑chain profit, despite the government’s tight grip.
China stands as the second-largest nation by crypto ownership in absolute terms, behind India, even though everyday crypto trading is officially prohibited.
