News Snapshot:
Hong Kong has proposed allowing retail investors to trade in cryptocurrencies and crypto exchange-traded funds and plans to conduct pilots in NFT issuance and CBDC as it looks to regain its status as a global financial hub. The city had earlier proposed limiting crypto trade to professional investors, a move that saw many crypto entrepreneurs shift base to Dubai and Singapore. Hong Kong will review property rights for tokenized assets and explore legalizing smart contracts “to provide a solid legal foundation for their development,” it said. It is also planning to put in place “appropriate regulations” on aspects such as...
