Hong Kong is truly making moves that can help define it as a thriving hub for all crypto-related activities within the region.
According to a report from Bloomberg citing unnamed sources, the City’s top financial regulator, the Securities and Financial Commission (SFC) is set to permit to relisting of Bitcoin (BTC) and Ethereum (ETH) in exchanges that permit retail traders.
The news that the Hong Kong SFC is considering a divergent crypto regulatory framework was first unveiled by Elizabeth Wong, Head of Fintech at the SFC as reported by Blockchain.News earlier this week. According to Wong, new allowances will be made for retail crypto traders, marking a move away from the earlier stance instituted in 2018 that sees only institutional traders with $1 million in capital trade the nascent asset class.
The timeline for announcing the new regulatory frameworks is yet unknown, however, speculations abound that the SFC will…
