Crypto Enters Retail Trading

GM Guys and Gals,

The world is starting to believe in crypto and the web3 space. Coming forward on this Hong Kong recently reported that it is going to propose a set of approved crypto tokens for Retail Trading.

Here you go

Hong Kong's Securities and Futures Commission (SFC) will allow retail trading in a select group of cryptocurrencies as it attempts to introduce regularity and clarity to crypto.

The watchdog plans to propose a subset of tokens that will be approved, the CEO of SFC, Julia Leung, said at a panel discussion at the Asian Financial Forum in Hong Kong.

Hong Kong's virtual asset service provider regime will be focused on investor protection, the importance of which was hammered home by the collapse of FTX in November, according to Leung. The failed crypto exchange was once headquartered in Hong Kong.

The CEO of Hong Kong's securities regulator said only "highly liquid" assets will be on the list.

Signals out of Hong Kong on the territory's aspirations for its crypto regime have been mixed in recent months.

Hong Kong was showing signs of relaxing tough regulations to become a more crypto-friendly environment at times last year. The Financial Services and Treasury Bureau said in October that it was open to allowing retail customers to trade cryptocurrency or approving a crypto exchange-traded fund (ETF).

That's it for the day, Web3Shala 👋

To the Moon 🪐LFG 🚀