Hong Kong Just Cracked Open Its Crypto Vaults—And Wall Street Should Be Paying Attention
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Hong Kong dropped a regulatory bombshell Monday that could reshape the global digital asset landscape, announcing sweeping changes to ease restrictions on virtual asset platforms and launching a tokenization pilot scheme that puts the city squarely in competition with Singapore and the U.S. for fintech dominance.
The Securities and Futures Commission will allow locally licensed virtual asset trading platforms to share global order books with overseas affiliates, ending requirements that forced platforms to ring-fence their order books within Hong Kong’s borders, said SFC CEO Julia Leung, according to Reuters.
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