Support for Cryptocurrencies from Hong Kong!

Globally cryptocurrencies As its adoption and use continues to increase, governments are also taking a stand against cryptocurrencies.

While some countries, such as China, are moving towards banning cryptocurrencies altogether, some countries such as El Salvador Bitcoin (BTC) accepts it as legal currency and supports cryptocurrencies.

Hong Kong will take a separate stance on cryptocurrencies from the Chinese government, according to a recent report by local news agency South China Morning Post.

In this context, a city and special administrative region of China Hong Konghas given the green light to investing in cryptocurrencies, leaving the general ban on cryptocurrencies in China.

The report claimed that Hong Kong will allow retail investors to invest directly in cryptocurrencies.

Hong Kong Securities and Futures Commission (SFC) Elizabeth Wong, head of the fintech unit, said at a panel she attended that the Hong Kong government is considering enacting its own law to regulate crypto independently from China.

In his speech, Wong said the following about cryptocurrency investments:

“The crypto industry has become more compliant over the past four years. Given all the developments in the crypto space, it’s time for the city of Hong Kong to change its stance on crypto.

We think it might be a really good time to really think carefully about whether to continue with the crypto investment opportunity only to professional traders.”

Hong Kong’s new move on cryptocurrencies, as previously announced by the Hong Kong government, “The vision to transform Hong Kong into an international center of virtual presence” was made within the scope of

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