Hong Kong Regulators Propose Allowing Retail Investors to Trade Cryptocurrency

ByLA STARTUPS October 31, 2022

Hong Kong is looking to regain its status as a global financial hub with a proposal that would allow retail investors to trade cryptocurrencies and crypto exchange-traded funds. The city had last year proposed limiting crypto trade to professional investors, but this new proposal would open it up to the general public.

Hong Kong will also explore legalizing smart contracts and putting in place appropriate regulations on aspects such as governance and stabilization of stablecoins. This comes at a time when China is ramping up its efforts to crackdown on crypto transactions and Singapore is exploring a series of stringent guidelines surrounding virtual digital assets.

If enacted, this proposal could make Hong Kong a more attractive destination for crypto entrepreneurs and help to boost the city’s economy.

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