Is China experimenting with crypto in its backyard – Hong Kong? Over the last few months, the city has made some decisive moves to have a clear regulatory environment for crypto businesses in its jurisdiction. Hong Kong is the special administrative region of China with a separate legal system and control over its markets.
As per local government officials, the city may start crypto trading for retail investors in June. This represents a sharp contrast to the ban on crypto trading and mining by China within its jurisdiction, implemented in 2021.
China’s Support of HK’s Crypto Ambitions
However, a new narrative to China’s ban on crypto activities is available now. According to a Bloomberg report, Hong Kong’s push to legal crypto trading may have quiet backing from China.
The city, which has been a global financial and trade hub, began inviting crypto businesses in October. Many such firms that are now setting up their businesses in Hong Kong are those that had to wrap u
We współpracy z: https://cryptopotato.com/hong-kongs-crypto-push-could-have-chinas-backing-reports/
