Lawyer interprets rumors about Hong Kong regulation: it is marketing misinformation, and Hong Kong residents have always been able to trade cryptocurrencies legally

2023-02-16 14:29:12

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ChainCatcher message, regarding today's tweet by crypto KOL "Crypto Panda" about Hong Kong's crypto regulatory policy, a lawyer in the Hong Kong industry responded to PANews, stating: "This is misleading. Hong Kong people have always been able to legally trade cryptocurrencies. From June 1, exchanges operating in Hong Kong will need a license. P2P trading/OTC without custody functions do not require a license, so there is no change in the legality of this part of trading. Regarding stablecoins, the Hong Kong Monetary Authority's consultation results indicate that they will regulate the issuance of stablecoins in 2024 (estimated). I believe this person is purely spreading misleading information for marketing purposes."

Earlier today, Crypto Panda stated in a tweet: "On June 1, 2023, Hong Kong will officially make cryptocurrency buying and selling, trading completely legal for all citizens, looking forward to a large influx of capital from the East. Hong Kong will also launch stablecoins based on Asian currencies." (source link)

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