2 years ago
Hong Kong citizens volition beryllium allowed to buy, sell, and commercialized crypto assets from June 1, according to the Twitter relationship @NoodleofBinance.
Current rules bounds cryptocurrency trading to professional investors — individuals with a portfolio of astatine slightest HK$8 cardinal (US$1.02 million).
@NoodleofBinance called this a bullish event, saying, “Expect a immense influx of large wealth from the East.” He besides called the rollout of a Hong Kong dollar-based stablecoin a “certainty.”
Recent months person seen the increasing communicative that China is warming to cryptocurrency and seeks to instrumentality pro-crypto regularisation successful Hong Kong arsenic a benignant of sandbox evaluation.
U.S. crypto regulations lagging behind
Linking the tweet, Coinbase CEO Brian Armstrong called retired U.S. regulators for dragging their feet arsenic acold arsenic implementing a unified model is concerned.
“America risks losing it’s presumption arsenic a fiscal hub agelong term, with nary wide regs connected crypto, and a hostile situation from regulators.“
He said Congress needs to enactment accelerated connected crypto regularisation oregon suffer crushed to the U.K., Europe, and present Hong Kong.
The station Hong Kong legalizes crypto trading sparking outcry from Brian Armstrong appeared archetypal connected CryptoSlate.
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