Hong Kong plans to legalize retail crypto trading to become hub

Hong Kong has actually been trying to frame an all-encompassing crypto regime going beyond retail token trading. — Photo by André François McKenzie on Unsplash

Hong Kong is pivoting toward a friendlier regulatory regime for cryptocurrencies with a plan to legalize retail trading, contrasting with the city’s skeptical stance of recent years and the ban in place in mainland China.

A planned mandatory licensing program for crypto platforms set to be enforced in March next year will allow retail trading, according to people familiar with the matter, who asked not to be named because the information isn’t public.