What Happened on May. 23rd | Which tokens permitted for trading under HK new crypto regulation?
Firstly, regulatory requirements emphasise that tradable tokens are only non-securities tokens with a minimum 12 month track record and that the token is already included in two cryptocurrency indices. According to market analysis, BTC, ETH, LTC, BCH, DOT, SOL, ADA, AVAX, MATIC, LINK is the most likely token to be included for retail trading.
Secondly, the regulation prohibits exchanges from offering Earn products, lending and saving services. These types of services are very common in top exchanges.
In addition, exchanges are prohibited from offering derivatives trading, such as perpetual contracts. However, the regulation acknowledges the importance of derivatives trading in the crypto market and says it will be further studied and considered.
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HK SEC: Implementation of the Virtual Assets Regulation From 1 June: Hong Kong's Securities and Futures Commission (SFC) concludes consultation on virtual asset trading platform regulation. A majority of respondents agreed to the proposal allowing licensed trading platform operators to serve retail investors.
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