Virtual Assets Report

FINDINGS AND OBSERVATIONS 13 12 II. EXPERIENCE WITH VIRTUAL ASSETS As reflected by the results shown in Figure 5, the general population in Hong Kong has little experience with virtual assets. Even among the respondents who had heard of virtual assets, more than 70% had never held virtual assets. There is some evidence of increasing interest in virtual assets in the Hong Kong population in recent years. Of the respondents who had ever held virtual assets, about 80% first held virtual assets less than three years prior to the survey, with about 30% first having held virtual assets between one and two years previously. Those who had held virtual assets had mainly bought them on online platforms. Other ways through which these respondents acquired their virtual assets included transferring from family or friends, mining, receiving them in payment for goods and services and purchasing at dedicated kiosks such as an ATM-like machine. Figure 6. Time Frame of First Virtual Asset Acquisition Figure 5. Respondents' Experience with Holding Virtual Assets 0% 0% 20% 20% 5% 40% 25% 10% 60% 30% 15% 80% 35% I have previously held virtual assets, but no longer do Between 6 months and 12 months ago More than 3 years ago I currently hold virtual assets Less than 6 months ago Between 2 and 3 years ago I have never held virtual assets Between 1 and 2 years ago 0% 20% 30% 10% 80% 40% 50% 60% 70% I bought them at a dedicated kiosk (e.g., an ATM-like machine) I received them in payment for goods or services I mined them I bought them on an online platform (e.g., Binance, Coinbase) They were transferred to me from family or friends None of the above Others Figure 7. Channels through Which Respondents Acquired Virtual Assets Phase 1 Phase 2 Phase 1 Phase 2 Phase 1 Phase 2