China’s ban on Bitcoin, the virtual currency, has fallen sharply, Futu stops opening new positions at Hong Kong Securities Regulatory Commission-Hong

China has banned virtual currencies, and Hong Kong has therefore considered strengthening relevant supervision. Investment platform Futu Securities (Hong Kong) recently issued guidelines, saying that in accordance with the guidelines of the Hong Kong Securities Regulatory Commission, new virtual currency trading in Hong Kong will be suspended.

Futu issued a message stating that, in response to the regulatory requirements of the Hong Kong Securities Regulatory Commission, the code GBTC/EHTE/ETCG/GDLC/OBTC/LTCN/BCHG will be forbidden to open new positions from October 1, 2021, and the original positions will not be closed. Affected, please be aware of the situation.

The restriction involves virtual currency trust funds processed through Futu, including GBTC Bitcoin Trust Fund, ETHE Ethereum Trust, ETCG Ethereum Fund, GDLC Digital Large Cap Fund, Osprey Bitcoin Trust, Grayscale Litecoin Trust, and Grayscale Bitcoin Cash Trust.

Source: Futu

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