The Hong Kong government is pushing for a legislative proposal banning retail investors from trading in cryptocurrency

Although interest in cryptocurrencies and advanced technologies such as Blockchain is currently increasing worldwide, the Hong Kong government is enforcing a law restricting trade in cryptocurrencies.

The legislative proposal, which was published on the official government website, was presented last November and, after three months of consultation, is being transformed into a bill that may enter into force during the year.

Experts in the sector immediately criticized the bill, because if such a law came into force, it could result in many of the companies concerned leaving the region due to hostile regulations.

Currently, a professional investor is considered to be one who owns a portfolio of at least HKD 8 million ($ 1.03M).

Cryptocurrency News / CCNEWS24

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Matej Korený

We are building DeFi 2.0 / Internet 2.0 / Web 4.0 | Digital Economy | Crypto | Blockchain | FinTech | CMO at CoDeTech, Core Blockchain