Hong Kong Plans to Uplift Crypto Ban Unlike China

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. 

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.