The Securities and Futures Commission of Hong Kong formally announced its intention to let individual investors to trade cryptocurrencies like Bitcoin and Ethereum on February 20.
Nevertheless, only exchanges that have been granted agency licensing will be allowed to provide this service. Exchanges must be cautious about exposure limits, risk profiles, and other factors since investor safety is one of the SFC's primary areas of concern.
The plan of the special administrative zone to welcome retail traders appears to be a significant step in the road of becoming a crypto center.
Furthermore, a new Bloomberg story has shown that Beijing is purportedly supporting Hong Kong's goal of becoming a centre for the cryptocurrency industry.
The article claims that representatives from China's Liaison Office have attended crypto events in Hong Kong "often as guests." Bloomberg underlined that their interactions had been "friendly," citing anonymous sources.
Moreover, sources claimed that officials have been monitoring developments, requesting updates, and even calling in the wake of events.
