Hong Kong is weighing a plan to allow retail investors to trade cryptocurrencies, potentially paving the way to real estate security token offerings

• Hong Kong is contemplating a plan to allow retail investors to trade cryptocurrencies. 
• The new proposal may additionally allow future offerings of real estate security tokens. 
• If it goes via, the plan would mark a additional divergence from mainland China, which has banned crypto buying and selling.

Hong Kong is weighing a proposal to allow retail investors to trade cryptocurrencies as leaders attempt to enhance the monetary hub’s international competitiveness.

The metropolis beforehand proposed limiting crypto trades to skilled investors, drawing criticism for stifling innovation whereas prompting startups and crypto corporations to settle in cities like Dubai and Singapore. 

“We want to make our policy stance clear to the global market to demonstrate our determination to explore fintech with the global virtual asset community,” Financial Secretary Paul Chan informed the Hong Kong Fintech Week convention.

Hong Kong’s authorities may even study the property rights for crypto property in addition to the course of for legalizing sensible contracts.

The metropolis’s strikes may lay the groundwork for providing real estate security token offerings (STOs), that are blockchain-derived tokens that allow property homeowners to obtain revenue from real property. 

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If Hong Kong’s plan goes via, it will mark a additional divergence from mainland China, which has banned crypto buying and selling.