Hong Kong's proposed crypto exchange rules could hamper volume, trigger consolidation say industry players
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Quick Take
- The Hong Kong government has proposed to require crypto exchanges to obtain a license within 180 days after the policy takes effect
- A licensed crypto exchange under the proposed licensing regime can only target professional investors at initial stage
- Some says such a move may suffocate trading volume and pigeonholes crypto assets as speculative instrument
The proposal seeks to require exchanges to obtain a license within 180 days after it takes effect, after which they can only target professional investors.
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