This market will resolve to "Yes" if the Hong Kong government or the Securities and Futures Commission (SFC) implements a policy or regulation that prohibits retail investors from trading cryptocurrencies before January 1, 2026, 00:00 HKT (Hong Kong Time, UTC+8), Otherwise, this market will resolve to "No." For the purposes of this market: "Retail investors" are defined as individuals who do not meet the SFC's criteria for professional investors A "complete ban" means retail investors are legally prohibited from buying, selling, or exchanging cryptocurrencies (e.g., Bitcoin, Ethereum) on any trading platform, whether licensed or unlicensed, operating within Hong Kong's jurisdiction, and access to such platforms for retail investors is fully restricted or made illegal. Partial measures—such as enhanced Know Your Customer (KYC) requirements, trading limits, or restrictions on specific cryptocurrencies—do not qualify.