Hong Kong to Legalize Crypto Trading and Restore Its Reputation
According to a Bloomberg article published Thursday, Hong Kong intends to allow retail cryptocurrency trading in order to reestablish itself as a crypto center.
The article, which cited persons familiar with the situation, explains that cryptocurrency platforms would be required to apply for a license to provide retail trading.
The city wishes to restore itself as a worldwide financial center. This is in contrast to mainland China, where cryptocurrency is prohibited.
As part of the “One Country, Two Systems” governance structure, Hong Kong has its own financial and legal systems separate from the Chinese mainland.
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Source: igaming
