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Will Hong Kong become a crypto hub?

Hong Kong plans to legalize retail trading of cryptocurrency as it looks to become a crypto hub, according to a Bloomberg report Thursday. Crypto platforms will be required to apply for a license to offer retail trading, according to the report, which cited people familiar with the matter.

Will Hong Kong regain its status as a global financial hub?

Hong Kong has proposed allowing retail investors to trade in cryptocurrencies and crypto exchange-traded funds and plans to conduct pilots in NFT issuance and CBDC as it looks to regain its status as a global financial hub.

Will Hong Kong legalize smart contracts?

Hong Kong will review property rights for tokenized assets and explore legalizing smart contracts “to provide a solid legal foundation for their development,” it said. It is also planning to put in place “appropriate regulations” on aspects such as “governance, stabilization and redemption mechanism” of stablecoin.

Is Hong Kong's ftx'really promising'?

Sam Bankman-Fried, the chief executive of crypto exchange FTX and a high-profile backer in the industry, called Hong Kong’s steps today “really promising,” but added that if only the region had taken this stand last year, referring to aggressive exodus that Hong Kong’s previous proposal caused.

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