Cryptocurrency

Can Hong Kong Regain Its Status As a Crypto Hub?

The special administrative region of Hong Kong is slowly growing increasingly friendly to crypto startups with an impending proposal to enable retail investor trading to distinguish itself from mainland China.

Tight regulations in Hong Kong have historically prevented crypto platforms from extending services to retail traders, with the majority of retail traders relying on unlicensed exchanges to operate.

“Virtual assets have in the past year gone from peak to low(-price) levels,” said Julia Leung, the CEO of the Securities and Futures Commission (SFC) at the Asian Financial Forum in Hong Kong. “The good thing is that when the froth is taken out from the system as platforms and some tokens collapsed, it focuses investors and sellers’ minds on investor protection.”

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