Hong Kong to explore legalizing retail crypto trades in reversal of previous proposal

Hong Kong has proposed allowing retail investors to trade in cryptocurrencies and crypto exchange-traded funds and plans to conduct pilots in NFT issuance and CBDC as it looks to regain its status as a global financial hub.
The city had earlier proposed limiting crypto trade to professional investors, a move that saw many crypto entrepreneurs shift base to Dubai and Singapore.
Hong Kong will review property rights for tokenized assets and explore legalizing smart contracts “to provide a solid legal foundation for their development,” it said.
It is also planning to put in place “appropriate reg

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