Hong Kong aims to become a hub by legalizing retail cryptocurrency trading
Join Our Telegram channel to stay up to date on breaking news coverage In contrast to the city’s skepticism of previous years and the prohibition in place in mainland China, Hong Kong is turning toward a friendlier regulatory framework for cryptocurrencies with a plan to authorize retail trading. According to persons with knowledge of the situation who declined to be identified because the material is private, a proposed obligatory licensing program for cryptocurrency platforms that is scheduled to go into effect in March of 2019 will permit retail trading. According to the persons, regulators want to permit listings of larger tokens but won’t support particular coins like Bitcoin or Ether. They said that the specifics and timeline have not been determined because a public consultation must come first. At a fintech conference beginning on Monday, the government is anticipated to elaborate on its newly stated objective of developing a leading crypto hub. The initiat...