The brokerage agency Interactive Brokers Hong Kong has been licensed for virtual asset trading by retail shoppers in Hong Kong, based on a submit on LinkedIn by Interactive Brokers’ managing director for Asia Pacific, David Friedland.
The submit says that Bitcoin (BTC) and Ether (ETH) trading is allowed, with an official announcement coming quickly.
Cointelegraph contacted Interactive Brokers for extra info and feedback on the event however has not but acquired a reply.
The announcement comes because the crypto industry expands in Hong Kong. The area has more and more grow to be a hotspot for crypto-related actions, with corporations flocking to obtain native licensing.
Back in August, Hashkey was the first crypto exchange in Hong Kong to obtain a license to supply crypto belongings to retail buyers. In November, Swiss crypto financial institution SEBA acquired a license from the Hong Kong Securities and Futures Commission (SFC) permitting it to offer various crypto-related services to shoppers in the area.
Related: Owner of Hong Kong crypto exchange OSL secures $90M investment
The Hong Kong crypto scene was confronted with a scandal in September, nevertheless, when unlicensed crypto trade JPEX allegedly scammed investors out of almost $165 million.
A month later, the SFC updated its crypto policies “in light of the latest market developments and inquiries from the industry” to state that sure digital foreign money choices will solely be accessible to skilled buyers. Moreover, crypto intermediaries ought to “assess whether clients have knowledge of investing in virtual assets” earlier than dealing with transactions.
According to a latest survey by the Investor and Financial Education Council of Hong Kong, solely 47% of retail investors in Hong Kong are conscious of native virtual asset laws.
Magazine: HTX hacked again for $30M, 100K Koreans test CBDC, Binance 2.0: Asia Express
