Hong Kong's Retail Crypto Trading: A New Era?

So Hong Kong's thinking about legalizing retail crypto trading? Sounds interesting... I just saw it on Bloomberg.

Yeah, it's wild how Hong Kong aims to be a crypto hub while the US seems to be pushing it away. America’s gov doesn't seem to get the whole crypto thing.

Exactly! It’s like a door closes in the US and several others open up in places like Hong Kong. Some countries actually want us here.

True that! Look at Singapore, they’ve been welcoming crypto businesses for a while now. India kinda dropped the ball there, losing out on opportunities.

While the US is closing up, China is allowing Hong Kong to thrive in crypto. It’s strange though, since the mainland is still anti-crypto.

Worried about that. Seems like they might just want to boost their own projects like NEO while we’re all about ETH.

But hey, if Hong Kong's doing this, maybe they have something big planned. Just not sure I can trust anything China does...

I wrote in one of the threads that the United States' strict anti-cryptocurrency policy will lead to the migration of companies to other, more open countries. This news indicates an insightful vision of the Hong Kong government in attracting companies that will leave the United States as a result of its strict policy. If this news is true, we will certainly see that most crypto companies will open their main offices in Hong Kong. This will have a significant positive impact on the country's economy, also a positive impact on cryptocurrencies.

Sure so will the ETF, but not that much.

Hong Kong has now become a country where everyday life is completely digital, Hong Kong people cannot live without digital, that is the fact that is happening there, We know that Hong Kong has now become a field for world investors and thousands of companies are investing there in the form of digital assets, so my understanding is that it is very natural that the law made by the government regarding crypto is for legal purposes, they want to make Hong Kong a central countrydigital-based global. The information you mention here, it is all possible within reason. So considering the low taxes, it could make many investors flock to invest in Hong Kong. Plus, government support has enabled Hong Kong to implement positive laws for digital currency there.

Twitter Member of the Legislative Council of Hong Kong https://twitter.com/Johnny_nkc/status/1745278907807658145 "The US Securities and Exchange Commission (SEC) approved a spot bitcoin-ETF early this morning Hong Kong time. This move is an important step for the virtual asset market and also attracts more traditional investors and funds to invest in the virtual asset area. After the SEC adopted the spot Bitcoin ETF, I believe Hong Kong should dare to become a "leader" in the virtual asset field and lead the development of the whole industry through innovative policies. 1. The SAR government should promote the introduction of spot ETFs as soon as possible. The Securities Regulatory Commission has previously stated that it is willing to accept applications for spot bitcoin ETFs. I hope that with the rapid development and high competition of virtual assets, Hong Kong can take its place in the world as soon as possible. This will be the first opportunity to implement relevant policies and products in Asia and strengthen Hong Kong's ability to become a global virtual asset center. 2. Strengthening public education about virtual assets. With the growing attention on virtual asset products that meet global standards, the SAR government should immediately strengthen public education to increase citizens' awareness of virtual assets and reduce the number of criminals. Opportunity to use virtual assets to commit fraud."

One thing is sure. Government can't be trusted. China has an uphill battle with their zickzack parkour. The US gets in line once they learn that others benefit. We see that now.  It shows a part of the reigning mind-set. Crypto is not to blame for fraud. Greed and the lack of caution is.

https://www.thestandard.com.hk/section-news/section/2/259453/Hong-Kong-may-follow-suit-as-US-approves-bitcoin-ETFs "Hong Kong may give the green light for spot crypto exchange-traded funds in the near future after US regulators for the first time approved ETFs that invest directly in bitcoin, but with words of caution. The US Securities and Exchange Commission authorized 11 such funds from industry heavyweights BlackRock, Invesco and Fidelity to smaller competitors including Valkyrie to begin trading yesterday. The ETF managers kicked off a fee war even before the approval."

We can clearly see that they set crypto onto the same level as trading. The reigning idee of making money is to trade, not P2P.

When you talk about Hong Kong planning on doing this then is certain that is going to take place Quote from: https://www.centralbanking.com/fintech/7960797/hong-kong-issues-worlds-first-multi-currency-digital-bond?cx_artPos=1&cx_experienceId=EX747UUZSC3C&cx_testId=3&cx_testVariant=cx_1#cxrecs_s The Hong Kong government launched the world’s first multi-currency digital bond on February 7.  The HK$6 billion (US$767 million) of green bonds are available in US and Hong Kong dollars, euros and yuan. The bonds are listed on the Hong Kong Stock Exchange and will be processed on the Hong Kong Monetary Authority (HKMA) clearing and settlement system, with links to Euroclear and Clearstream in the US. So I'm not surprised if they're trying to legalized it

10 Hong Kong Institutions Gear Up for Spot ETF Applications Recent reports from local media in Hong Kong indicate that ten financial institutions are gearing up to apply for the launch of Bitcoin spot ETFs in the region. The Hong Kong Bitcoin move comes at a crucial time, with Bitcoin spot ETFs gaining significant traction in the United States and Hong Kong seeking the opportunity to transform from a follower to a leader in the global digital asset market.