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Cryptocurrencies

Hong Kong reverses course on cryptocurrencies with retail ban

Proposal requires exchanges to be licensed and serve only professional investors

NARAYANAN SOMASUNDARAM, Nikkei Asia chief banking and financial correspondent | Hong Kong

HONG KONG -- Hong Kong looks to stop retail investors from buying and selling cryptocurrencies, as well as require operators of exchanges for such trading to be licensed.

The city said the move would bring its rules targeting money laundering and terrorism financing in line with global standards.

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