Hong Kong opens public consultation on new crypto trading regime Cryptocurrencies
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As part of the consultation, the SFC wants particular input on “whether to allow licensed platform operators to serve retail investors, and if so, the measures to be implemented,” they wrote. The SFC added that they will publish lists on their website to “inform the public of the different regulatory statuses” of the various trading platforms, and they intend to continue working with the Investor and Financial Education Council to educate the Hong Kong public about virtual assets. Parties interested in sharing their views and expertise on the regulator’s requirements have until March 31, 2023.
On Feb. 15, Twitter user NoodleofBinance first tweeted the news that Hong Kong was preparing to legalize crypto trading for institutions and its citizens. “Expect a huge influx of big money from the East,” NoodleofBinance said. Under current rules, crypto trading in Hong Kong is limited to professional investors, which are defined as individuals with a portfolio of at least HK$8 million .
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