{"id":8016,"date":"2022-10-23T04:05:46","date_gmt":"2022-10-23T04:05:46","guid":{"rendered":"http:\/\/cryptoheretostay.com\/?p=8016"},"modified":"2022-10-23T04:05:47","modified_gmt":"2022-10-23T04:05:47","slug":"hong-kong-mulls-letting-retail-investors-trade-crypto-removing-professional-investor-only-requirement","status":"publish","type":"post","link":"https:\/\/cryptoheretostay.com\/?p=8016","title":{"rendered":"Hong Kong Mulls Letting Retail Investors Trade Crypto, Removing &#8216;Professional Investor-Only Requirement&#8217;"},"content":{"rendered":"<p> <script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"crypto\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<\/p>\n<p><strong>The director of licensing and head of the fintech unit of Hong Kong\u2019s Securities and Futures Commission (SFC) has confirmed that the regulator is considering allowing retail investors to invest directly in crypto assets. \u201cWe\u2019ve had four years of experience in regulating this industry \u2026 We think that this may be actually a good time to really think carefully about whether we will continue with this professional investor-only requirement.\u201d<\/strong><\/p>\n<h2>SFC Director on Crypto Regulation in Hong Kong<\/h2>\n<p>Elizabeth Wong, director of licensing and head of the fintech unit of Hong Kong\u2019s Securities and Futures Commission (SFC), talked about cryptocurrency regulation during a panel discussion held by Invest HK on Monday, South China Morning Post reported.<\/p>\n<p>She explained that the regulatory environment for crypto in Hong Kong is different from in mainland China. Emphasizing that Hong Kong can introduce its own bill to regulate cryptocurrencies, she stressed that it \u201cshows just how separate Hong Kong is from the mainland.\u201d<\/p>\n<p>The director confirmed that the SFC is currently considering allowing retail investors to \u201cdirectly invest into virtual assets.\u201d Over the past four years, the regulator has taken the stance of limiting crypto trading on centralized exchanges to professional investors, which are individuals with at least HK$8 million (US$1 million) in liquid assets, the publication conveyed.<\/p>\n<p>Noting that the crypto industry has become more compliant, the SFC director said:<\/p>\n<p>We\u2019ve had four years of experience in regulating this industry \u2026 We think that this may be actually a good time to really think carefully about whether we will continue with this professional investor-only requirement.<\/p>\n<p>The government of Hong Kong has been increasing efforts to lure back fintech companies that left the city due to strict regulations.<\/p>\n<p>The SFC introduced a regulatory framework for crypto trading platforms in November 2019. Centralized exchanges that provide crypto trading services and intend to offer trading of at least one security token may apply to the SFC for a license. \u201cThe licensee must only provide services to professional investors,\u201d the regulator clarified. In December 2020, the SFC issued its first license to a digital asset trading platform. At the time of writing, OSL Digital Securities Ltd. is the only licensee listed on the regulator\u2019s website.<\/p>\n<p>Wong further noted that the SFC has relaxed some requirements to allow retail investors to invest in crypto assets over the past year and the regulator is also reviewing rules on whether to allow retail investors to invest in exchange-traded funds (ETFs) with crypto exposure.<\/p>\n<p>The SFC will seek public comments on allowing retail investors to directly invest in cryptocurrencies later this year, the director revealed, adding that Hong Kong will soon introduce a mandatory licensing requirement for crypto trading platforms.<\/p>\n<p>Tags in this story<\/p>\n<p>Elizabeth Wong, Hong Kong, hong kong crypto, Hong Kong crypto ETF, Hong Kong crypto licensing, Hong Kong crypto regulations, hong kong cryptocurrency, Hong Kong cryptocurrency regulation, Hong Kong vs mainland China, mainland China crypto regulation, SFC<\/p>\n<p><em><strong>Do you think Hong Kong should allow retail investors to trade crypto? Let us know in the comments section below.<\/strong><\/em><\/p>\n<p>Kevin Helms <\/p>\n<p class=\"article__body__author__info__about\">\nA student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.<\/p>\n<p><i class=\"td-icon-font td-icon-mail-1\"\/><\/p>\n<p class=\"images_credits\"><em>Image Credits: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n<p><strong>Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<p>More Popular NewsIn Case You Missed It<\/p>\n<p><script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"bitcoin\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<br \/><a href=\"https:\/\/news.bitcoin.com\/hong-kong-mulls-letting-retail-investors-trade-crypto-removing-professional-investor-only-requirement\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The director of licensing and head of the fintech unit of Hong Kong\u2019s Securities and Futures Commission (SFC) has confirmed that the regulator is considering allowing retail investors to invest directly in crypto assets. \u201cWe\u2019ve had four years of experience in regulating this industry \u2026 We think that this may be actually a good time [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":8017,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_wp_rev_ctl_limit":""},"categories":[1],"tags":[],"class_list":["post-8016","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-updates"],"_links":{"self":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/8016","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=8016"}],"version-history":[{"count":1,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/8016\/revisions"}],"predecessor-version":[{"id":8018,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/8016\/revisions\/8018"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/media\/8017"}],"wp:attachment":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=8016"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=8016"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=8016"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}