{"id":20169,"date":"2022-11-01T10:49:38","date_gmt":"2022-11-01T10:49:38","guid":{"rendered":"https:\/\/zebpay.com\/in\/?p=20169"},"modified":"2022-11-01T10:49:39","modified_gmt":"2022-11-01T10:49:39","slug":"hong-kong-crypto-regulations-news","status":"publish","type":"post","link":"https:\/\/zebpay.com\/in\/blog\/hong-kong-crypto-regulations-news","title":{"rendered":"Hong Kong Plans to Make Retail Crypto Trading Legal"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_66_1 counter-hierarchy ez-toc-counter ez-toc-light-blue ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/zebpay.com\/in\/blog\/hong-kong-crypto-regulations-news\/#Hong_Kongs_Crypto_History\" title=\"Hong Kong\u2019s Crypto History\">Hong Kong\u2019s Crypto History<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/zebpay.com\/in\/blog\/hong-kong-crypto-regulations-news\/#Other_Initiatives_from_Around_the_World\" title=\"Other Initiatives from Around the World\">Other Initiatives from Around the World<\/a><\/li><\/ul><\/nav><\/div>\n\n<p>More good news for Crypto enthusiasts from all over the world. Hong Kong\u2019s crypto legislation plans to make Retail Crypto trading legal from March 2023, according to a <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-10-27\/hong-kong-plans-to-legalize-retail-crypto-trading-to-become-hub?sref=3REHEaVI\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Bloomberg<\/a> report. This is in contrast to the Chinese Government\u2019s regressive rules on Crypto. Hong Kong is one of the major financial hubs of the world and aims to be a Global Crypto centre. It has an independent financial and judicial system different from the Chinese Government.&nbsp;<\/p>\n\n\n\n<p>Hong Kong crypto regulation is set to enforce a mandatory licensing program for Crypto platforms which enable retail trading. Regulators are planning to allow the listing of bigger tokens but will not endorse any specific crypto tokens.&nbsp;<\/p>\n\n\n\n<p>The criteria to list these tokens will require an evaluation of the Market Capitalisation, liquidity and membership of third-party crypto indexes as per known sources.<\/p>\n\n\n\n<p>Gary Tiu who is the executive director of BC Technology Group commented that<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>\u201cIntroducing mandatory licensing in Hong Kong is just one of the key things regulators have to do. And they can\u2019t forever close the needs of retail investors\u201d<\/p><cite><em>Source: Bloomberg<\/em><\/cite><\/blockquote>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Hong_Kongs_Crypto_History\"><\/span>Hong Kong\u2019s Crypto History<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The city used to be a hub for several well-known Crypto exchanges. Many of these exchanges reportedly have close ties with China. In 2018, the city introduced a voluntary licensing regime which in effect restricted Crypto platforms to only service clients with portfolios greater than $ 1 million. This led to several exchanges decamping Hong Kong.&nbsp;<\/p>\n\n\n\n<p>With the introduction of new regulations and pivoting towards a more retail-friendly environment, it is yet to be seen if Hong Kong can return to its old glory days.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Other_Initiatives_from_Around_the_World\"><\/span>Other Initiatives from Around the World<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Hong Kong\u2019s policies seem to be in line with where the rest of the developed world is moving. The United States Government has announced a guideline on <a href=\"https:\/\/zebpay.com\/blog\/us-government-guidelines-on-digital-assets\" target=\"_blank\" rel=\"noreferrer noopener\">Responsible Digital Asset development<\/a>. UK\u2019s parliament lower house on the other hand has voted in favour of recognising Crypto as a <a href=\"https:\/\/zebpay.com\/blog\/uk-crypto-regulations-news\" target=\"_blank\" rel=\"noreferrer noopener\">regulated financial asset.<\/a> India also aims to table a <a href=\"https:\/\/zebpay.com\/blog\/india-assessment-of-global-crypto-regulations\" target=\"_blank\" rel=\"noreferrer noopener\">technology-driven regulatory framework<\/a> at the G20 summit next year. Investors who are apprehensive about Crypto trading because of regulatory uncertainty can take this news as a breath of fresh air as more countries and organisations are moving towards Crypto friendly regulations.&nbsp;<br>With organisations like <a href=\"https:\/\/zebpay.com\/blog\/google-to-accept-crypto-payments-for-cloud-services\" target=\"_blank\" rel=\"noreferrer noopener\">Google adopting crypto<\/a> for their cloud services and Meta completely overhauling their brand vision to be Web 3.0-centric, it&#8217;s clear that companies are also adapting at a rapid pace. These developments can act as a foundational stone for the masses to adapt to the changing internet landscape.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>More good news for Crypto enthusiasts from all over the world. Hong Kong\u2019s crypto legislation plans to make Retail Crypto trading legal from March 2023, according to a Bloomberg report. This is in contrast to the Chinese Government\u2019s regressive rules on Crypto. Hong Kong is one of the major financial hubs of the world and [&hellip;]<\/p>\n","protected":false},"author":22,"featured_media":20185,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"_ayudawp_aiss_exclude":false,"footnotes":""},"categories":[14],"tags":[115],"acf":[],"_links":{"self":[{"href":"https:\/\/zebpay.com\/in\/wp-json\/wp\/v2\/posts\/20169"}],"collection":[{"href":"https:\/\/zebpay.com\/in\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/zebpay.com\/in\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/zebpay.com\/in\/wp-json\/wp\/v2\/users\/22"}],"replies":[{"embeddable":true,"href":"https:\/\/zebpay.com\/in\/wp-json\/wp\/v2\/comments?post=20169"}],"version-history":[{"count":0,"href":"https:\/\/zebpay.com\/in\/wp-json\/wp\/v2\/posts\/20169\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/zebpay.com\/in\/wp-json\/wp\/v2\/media\/20185"}],"wp:attachment":[{"href":"https:\/\/zebpay.com\/in\/wp-json\/wp\/v2\/media?parent=20169"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/zebpay.com\/in\/wp-json\/wp\/v2\/categories?post=20169"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/zebpay.com\/in\/wp-json\/wp\/v2\/tags?post=20169"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}