#QuickTakes By

Hong Kong Plans To Let Retail Investors Trade BTC And ETH

Scribbled Arrow

TRENDING GLOBALLY

-: FOLLOW US :-  @theinsaneapp

Hong Kong plans to allow retail investors to trade digital tokens like Bitcoin and Ether.

-: FOLLOW US :-  @theinsaneapp

The city's Securities and Futures Commission will license exchanges for the trading of large-cap tokens, but no specific tokens were named.

-: FOLLOW US :-  @theinsaneapp

Retail investors will have to pass knowledge tests, risk profiles, and have reasonable limits on exposure.

-: FOLLOW US :-  @theinsaneapp

The consultation period for this new licensing regime will end on March 31, with retail trading to begin on June 1.

-: FOLLOW US :-  @theinsaneapp

Hong Kong is pivoting to a pro-crypto stance, hoping to restore the city's credentials as a financial center.

-: FOLLOW US :-  @theinsaneapp

Officials are aiming to learn from last year's digital asset rout and a spate of global bankruptcies to create a mandatory regulatory framework that can attract firms and protect investors.

-: FOLLOW US :-  @theinsaneapp

No specific crypto indexes were specified as a reference point for allowable tokens.

-: FOLLOW US :-  @theinsaneapp

Exchanges will monitor listed assets to ensure that they qualify for trading by individual investors.

-: FOLLOW US :-  @theinsaneapp

Hong Kong has already allowed exchange-traded funds investing in CME Group Bitcoin and Ether futures and recently sold digital green bonds.

-: FOLLOW US :-  @theinsaneapp

Digital asset executives are drawn to Hong Kong, Dubai, and Europe as friendlier policy stances compared to the US.

#GIVEAWAY BY INSANE

Do you know that we give away around $250 USd in cash prizes every week?

Let’s grow together!