Hong Kong will promote retail investors to trade in crypto like bitcoin. It is a major step towards becoming a crypto hub that contrasts with a crackdown. Larger coins might be traded by individual investors on exchanges covered by the securities and futures commission’s license.
Hk still aims to be a crypto hub for corporations even though some crypto exchanges collapsed hinting at the FTX crash. Hk still has a strong crypto industry despite the crypto exchange collapse. The agency did not say which big money coins will be available to regular investors. It is not known at this time which coins will go on sale to regular.
Investors will have to wait and see if they will be able to get a hold of the coins. The consultation period ended on 31 march and the objective is to allow retail trading in the new licensing regime for crypto exchanges due on June 1st. It required that the coins be included in at least two reliable, investable indexes from independent sources. One of which must have experience in the traditional financial sector. Hong kong platforms will list bitcoin ethers, sfc is predicting. Hk platforms will also list bitcoin cash, Ethereum, Litecoin, ether, and bitcoin cash. Bitcoin cash will be able to be redeemed at a fraction of the cost of a bitcoin.
