Hong Kong to allow retail traders to put money on larger crypto tokens

A plan to permit ordinary investors to trade digital currencies like Bitcoin and Ether was presented in Hong Kong. Towards the end of October, Hong Kong adopted a pro-crypto stance as part of a bigger effort to restore the city’s reputation as a financial center. In a policy shift that contrasts with a crackdown in […]

A plan to permit ordinary investors to trade digital currencies like Bitcoin and Ether was presented in Hong Kong.

Providing measures including knowledge tests, risk profiles, and appropriate exposure limits are put in place, individual investors would be allowed to trade larger currencies on exchanges registered by the Securities and Futures Commission, the regulator said in a consultation document on 20 February.The names of the coins that will be accessible to regular investors were not specified.

According to an SFC spokeswoman, Hong Kong platforms are expected to list Bitcoin and Ether, the two largest digital assets by market value. To develop a required regulatory framework that can attract businesses and safeguard investors, officials are hoping to draw lessons from last year’s $1.5 trillion digital asset crash and a wave of worldwide bankruptcies, including the collapse of the FTX exchange.

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