Home Latest News Hong Kong Plans to Uplift Crypto Ban Unlike China

Hong Kong Plans to Uplift Crypto Ban Unlike China

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Hong Kong may uplift the ban on cryptocurrencies and crypto trading, unlike what China has decided to do. It is trying to be a global cryptocurrency hub by taking different legal initiatives regarding these digital currencies. Elizabeth Wong, the head of the fintech section of the Securities and Futures Commission (SFC) confirmed this plan. 
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Hong Kong officials plan to encourage investors, especially retail investors, to directly invest in virtual assets, thus creating a conducive environment. 

This shows that SFC is planning to move away from China’s plan. The investors must have a portfolio of at least $1 million to be eligible for that. The SFC plans to introduce multiple plans to further this purpose.

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