Hong Kong Brokers Look To Include Crypto For Retail Investors

Hong Kong Brokers Look To Include Crypto In Clients' Portfolios

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Hong Kong-based financial services providers have been preparing to start virtual assets trading in the coming months.

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Brokers and fund managers in the region have reportedly asked for advice on licensing requirements ahead of new legislation.

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This comes after Hong Kong lawmakers passed an amendment to the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (AMLO) in December 202.

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The amendment introduces a new licensing scheme for virtual asset service providers, which will allow retail investors to trade in virtual assets.

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Currently, the digital asset trading is restricted to professional investors or traders with proof of at least $1 million in bankable assets.

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Robert Lui, the digital asset leader at Deloitte Hong Kong, said that the retail investors will most likely be able to trade digital assets with a large market capitalization and liquidity.

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Another executive from the Central Bank of Hong Kong also recently said it was looking into investor protection regulations.

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