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Hong Kong's Securities and Futures Commission (SFC) will allow retail trading in a select group of cryptocurrencies as it attempts to introduce regularity clarity to crypto, Reuters reported on Wednesday.
The oversight body intends to propose and approve a subset of tokens, sfc's president, julia leung spoke at a round table at the Asian Financial Forum in Hong Kong.
Leung said only "highly liquid" assets will be on the list, according to a report by the South China Morning Post.
The virtual asset provider regime in Hong Kong will focus on investor protection, that was shaken by the collapse of ftx last November, they say. Cryptographic exchange now in bankruptcy was formerly based in Hong Kong.
Over the past year, virtual assets have grown from their peak levels to their lowest levels. The good thing is that when the foam is removed from the system that platforms and certain chips have collapsed, it concentrates the minds of investors and salespeople on protecting investors,' said Leung.
Hong Kong signals about the territory's aspirations for its crypto regime have been blended over the past few months.
Hong Kong was showing signs of relaxing tough regulations to become a more crypto-friendly environment at times last year. The Financial Services and Treasury Bureau said in October that it was open to allowing retail customers to trade cryptocurrency or approving a crypto exchange-traded fund (ETF).
However, in November, Leung - the then deputy CEO of the SFC - called for tough rules to be implemented on crypto firms, saying how FTX's collapse had highlighted the volatility of digital assets and the threat posed by its links with traditional financial services.
