By: Isha Das
Interactive Brokers Hong Kong and Victory Securities, the publicly traded company, have both obtained licenses in Hong Kong for retail cryptocurrency trading, signaling rising acceptance and regulation within the region.
Interactive Brokers had previously announced their licensing through a post on LinkedIn by the Managing Director for Asia Pacific, David Friedland. Initial services will offer retail cryptocurrency trading for Bitcoin (BTC) and Ethereum (ETH), with more details expected in the official announcement. Victory Securities also joined the league with its own license, marking a significant advancement in Hong Kong's crypto-space.
The crypto scene in Hong Kong has been blossoming, accommodating an upsurge in crypto-related activities and companies seeking local licensing. However, these new developments are in line with Hong Kong's updated crypto policies, which declare that specific digital offerings will be available only to professional investors. Per the policy, crypto intermediaries will have to assess clients' knowledge of virtual assets before handling transactions.
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