HONG KONG -- Hong Kong this week introduced a "roadmap" to lower obstacles for licensed cryptocurrency exchanges, just as it faces more competition from the U.S., which is warming up to the industry under the administration of U.S. President Donald Trump.
The Securities and Futures Commission announced 12 initiatives, which include opening up more products for professional investors on regulated platforms and pushing forward licensing procedures for over-the-counter (OTC) trading operators. Some of the proposals are still subject to legislation. The release of the plan on Wednesday came as Hong Kong hosted this week's Consensus, a major crypto event that until this year had only been held in the U.S.
