The new regulatory framework came amid tighter scrutiny on major cryptocurrency exchanges after a series of high-profile failures.
took effect in Hong Kong on Thursday , allowing exchanges to service retail customers if they secure and comply with licences aimed at bolstering investor protection.
Exchanges must also assess and set up exposure limits for retail investors, and only allow trading in highly liquid tokens. However, observers said Hong Kong has a different regulatory regime that is well respected by international investors. Hong Kong Monetary Authority chief Eddie Yue said the city wants to give the industry flexibility to develop, innovate and create an ecosystem.In fact, Prof Aris said he believes the new rules allow Hong Kong to fill a void left behind by a series of meltdowns in the west.
His firm is looking at potentially offering staking services in the city, as its crypto space grows. Staking is a way for crypto holders to earn rewards on digital assets.
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