July 19, 2024

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Hong Kong plans to legalize the retail trading of bitcoin and cryptocurrencies contradicting the city’s position in recent years, as well as China’s ban on such services, per a report from Bloomberg.

Hong Kong, along with many other regulatory bodies of government, seeks to establish a mandatory licensing regime which could be enforced as early as March of next year.

Additionally, regulators are seeking permission to allow the listing of bitcoin, along with some cryptocurrencies, however the city will not endorse any particular asset. Sources reportedly stated that timetables and details as to how any of this will work is still currently unknown.

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