Crypto NewsNewsGood News for Individual Investors from Hong Kong! Crypto Trading Will Be...

Good News for Individual Investors from Hong Kong! Crypto Trading Will Be Free After This Date!

Hong Kong Securities and Futures Commission prepares to make crypto trading free to retail investors

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Hong Kong is set to announce that individual investors can trade crypto under the new rulebook for the industry.

Hong Kong Prepares to Release Crypto Trading to Individual Investors

The city's Securities and Futures Commission will detail the results of a consultation on his individual participation at a briefing today.

The institution is expected to stick with its plan to allow individual investors to buy and sell larger tokens such as Bitcoin and Ethereum under appropriate safeguards from next month.

Hong Kong will launch a licensing regime for crypto-asset platforms on June 1, which will be part of an effort to restore its status as a cutting-edge financial hub.

But after a market crash that led to global bankruptcies, such as the collapse of the FTX exchange in 2022, the embrace of cryptocurrencies is controversial.

Lennix Lai, chief commercial officer of crypto exchange OKX, said he expects the outcome of the consultation to reflect "the digital asset community's view that safe, secure and compliant retail trading is a key aspect of a robust virtual asset ecosystem."

In February, Hong Kong outlined in its consultation document its plan to allow individual investors to trade larger cryptocurrencies on exchanges licensed by the SFC.

The regulatory agency aims to ensure that protective measures are in place, such as knowledge testing, risk profiles, and reasonable limits on exposure.

Eddie Yue, Chief Executive of the Hong Kong Monetary Authority, said companies should expect rigorous regulatory ground.

"We're going to let them generate ecosystems here, and that actually brings a lot of excitement," Yue said in an interview earlier this month.

*Not investment advice.

Buradaki Yorumlardan Bildirim Al

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