Hong Kong securities watchdog will propose a subset of tokens it would allow for retail investors’ trading, its chief executive said, as it presses on with a new regulatory regime that will make the city more friendly to crypto startups. | Reuters
Advertisements for crypto exchange show a Bitcoin symbol at Mass Transit Railway station, in Hong Kong, China. Oct 27, 2021. REUTERS/Tyrone Siu/File photo
HONG KONG – Hong Kong securities watchdog will propose a subset of tokens it would allow for retail investors’ trading, its chief executive said on Wednesday, as it presses on with a new regulatory regime that will make the city more friendly to crypto startups. As investor protection will continue to be the focus of the new virtual asset service provider regime, the Securities and Futures Commission will also seek public views about specific guardrails for retail trading, said Julia Leung, chief executive officer at the commision.“Virtual assets have in the past year gone from peak to low levels.
Hong Kong’s move to allow retail trading in cryptocurrencies has come after months of turmoil in the sector, with the collapse of crypto exchange FTX the latest blow.
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