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Hong Kong to Make Retail Crypto Trading Legal: Report
The city is looking to reestablish its reputation as a global financial hub.
Hong Kong plans to legalize retail trading of cryptocurrency as it looks to become a crypto hub, according to a Bloomberg report Thursday.
Crypto platforms will be required to apply for a license to offer retail trading, according to the report, which cited people familiar with the matter.
STORY CONTINUES BELOW
The city wants to reestablish its reputation as a global financial hub. The move contrasts with mainland China, where crypto is banned.
Hong Kong has its own financial and judicial systems, separate from the Chinese mainland, as part of the “One Country, Two Systems” framework under which it is governed.
Read more: Hong Kong Monetary Authority to Begin CBDC Trials in Q4: Report
Jamie Crawley
Jamie has been part of CoinDesk's news team since February 2021, focusing on breaking news, Bitcoin tech and protocols and crypto VC. He holds BTC, ETH and DOGE.
