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Hong Kong Adapts Crypto Regulations to Broaden Market Access

Hong Kong’s financial regulator has taken a further regulatory step in its evolving stance on cryptocurrency trading, widening the scope of retail access to digital assets through intermediaries. The move follows a surge in interest in spot Bitcoin exchange-traded funds (ETFs) and recent investigations into the unlicensed operations of the JPEX exchange. In a circular published by the Securities and Futures Commission (SFC) on Friday. The new guidelines aim to extend access to a broader clientele and facilitate the direct deposit and withdrawal of virtual assets through intermediaries. Despite this welcome expansion, there are a couple of cautionary notes included within the circular.

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