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Hong Kong greenlights retail trading of cryptocurrency

Exchanges can apply for licenses from June 1, approvals expected in second half

A bitcoin ad on a Hong Kong tram in 2021. Hong Kong aims to become a hub of the crypto industry.   © AP

HONG KONG -- Hong Kong will allow retail trading of cryptocurrencies as early as the latter half of this year, the Securities and Futures Commission announced on Tuesday, adding that it will accept applications from exchanges to offer such services from June 1.

The move comes as Hong Kong pushes to become a hub of the crypto industry even as other jurisdictions remain cautious following the collapse of cryptocurrency exchange FTX late last year.

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