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Cryptocurrencies

Hong Kong opens crypto exchange licensing ahead of retail trading

City cautiously pivots toward virtual currencies, which are banned on mainland

Hong Kong had restricted cryptocurrency trading to institutional investors and other professionals since 2018, but retail trading is poised to begin in the second half of 2023.   © Reuters

HONG KONG -- Hong Kong took a step toward becoming a cryptocurrency hub on Thursday with the start of applications for licenses to run trading platforms and exchanges.

Trading of cryptocurrencies in the Chinese territory has been restricted to institutional investors and other professionals since 2018, but Hong Kong's new regulations will allow retail trading as soon as the second half of 2023.

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