The government of Hong Kong is looking at allowing crypto trading for retail investors.
In Brief:
It is proposing allowing retail investor to trade in cryptocurrencies and crypto ETFs, Reuters reports.
Currently in Hong Kong only professional investors can trade cryptocurrencies.
At Hong Kong Fintech Week, Financial Secretary Paul Chan said that authorities are consulting on offering a “degree of access” to crypto assets for retail investors.
What does this mean?
Hong Kong’s crackdown on individuals trading crypto has prompted some FinTech startups to choose other locations for their operations, and Chan said Hong Kong is keen to now demonstrate its “determination to explore FinTech” amid risks of the city losing its status as a FinTech hub.
