Hong Kong Plans To Legalize Retail Crypto Trading
According to Bloomberg, Hong Kong’s government intends to enable ordinary investors to trade cryptocurrency on locally approved exchanges as part of a larger attempt to establish the city as a center for virtual asset service providers.
Bloomberg reported, citing anonymous sources, that a required licensing regime for crypto trading platforms set to begin in March will enable retail trading.
Details of the new system will be revealed on Monday during a city-wide fintech conference attended by senior government and regulatory officials.
Leonhard Weese, co-founder of the Bitcoin Association of Hong Kong stated:
“The kind of conversations I’ve had was that people still fear there’ll be a very strict licensing regime. Even if they’re able to deal directly with retail users, they’re still not going to be as attractive or as competitive as overseas platforms.”
The city wishes to restore itself as a worldwide financial center. This is in contrast to mainland China, where cryptocurrency is prohibited.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Website: coincu.com
Harold
CoinCu News
Author
News
Hong Kong Plans To Legalize Retail Crypto Trading
According to Bloomberg, Hong Kong’s government intends to enable ordinary investors to trade cryptocurrency on locally approved exchanges as part of a larger attempt to establish the city as a center for virtual asset service providers.
Bloomberg reported, citing anonymous sources, that a required licensing regime for crypto trading platforms set to begin in March will enable retail trading.
Details of the new system will be revealed on Monday during a city-wide fintech conference attended by senior government and regulatory officials.
Leonhard Weese, co-founder of the Bitcoin Association of Hong Kong stated:
“The kind of conversations I’ve had was that people still fear there’ll be a very strict licensing regime. Even if they’re able to deal directly with retail users, they’re still not going to be as attractive or as competitive as overseas platforms.”
The city wishes to restore itself as a worldwide financial center. This is in contrast to mainland China, where cryptocurrency is prohibited.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Website: coincu.com
Harold
CoinCu News
Other Posts
Related Posts
Latest
Best Cryptos to Invest in December 2024: Qubetics Surges Past $2.6M as Solana Records Big Whale Pump and Polkadot Aims for $6
Bitcoin Trader Turned $100M in His 20s—Now Reveals 5 Altcoins to Build a $50M Portfolio, With Memecoins Leading the Way!
Press Release
Best Cryptos to Invest in December 2024: Qubetics Surges Past $2.6M as Solana Records Big Whale Pump and Polkadot Aims for $6
The Best Crypto for Passive Income? 10% Weekly Gains and 20% Final Surge—Qubetics Mirrors Cosmos’ Early Success!
