Hong Kong Plans to Let Retail Sector Trade Larger Crypto Tokens Like Bitcoin

Hong Kong pivoted to a pro-crypto stance, part of a wider effort to restore the city’s credentials as a financial center.

(Bloomberg) — Hong Kong outlined a plan to let retail investors trade digital tokens like Bitcoin and Ether, taking a major step toward its goal of becoming a crypto hub in a policy shift that contrasts with a crackdown in the U.S.

Individual investors would be allowed to trade larger coins on exchanges licensed by the Securities and Futures Commission (SFC), providing that safeguards such as knowledge tests, risk profiles and reasonable limits on exposure are put in place, the regulator said Monday in a consultation paper.