Hong Kong allows crypto trading for retail investors

Cryptoregulation in Hong Kong is bearing fruit. As of June, retail investors there can trade Bitcoin, Ethereum and Co.

Retail investors in Hong Kong will be able to trade major cryptocurrencies from June 1 as a new virtual asset regulation comes into effect. This was stated by the Hong Kong Securities and Futures Commission (SFC) on May 23 in a brief announced.

With this, China's Special Administrative Region is paving the way for accelerated crypto adoption. The city aims to become a new Web3 hub using crypto-friendly regulations.

As indicated in the consultation launched in February, the rules will allow licensed exchanges to sell cryptocurrencies with large market capitalization and high liquidity, including bitcoin and ether, to retail investors.

No exchanges have been approved yet. But the SFC told a press conference that trading could begin in the second half of the year. Crypto exchanges can apply for a license starting June 1.

While Hong Kong, with clear legislation opens for the crypto sector, the direction of U.S. regulators is putting further pressure on the sector. Some U.S. crypto companies are already considering a move.