The brokerage agency Interactive Brokers Hong Kong has been licensed for digital asset buying and selling by retail purchasers in Hong Kong, in keeping with a submit on LinkedIn by Interactive Brokers’ managing director for Asia Pacific, David Friedland.
The submit says that Bitcoin (BTC) and Ether (ETH) buying and selling is allowed, with an official announcement coming quickly.
Cointelegraph contacted Interactive Brokers for added data and feedback on the event however has not but obtained a reply.
The announcement comes because the crypto business expands in Hong Kong. The area has more and more develop into a hotspot for crypto-related actions, with firms flocking to obtain native licensing.
Again in August, Hashkey was the primary crypto alternate in Hong Kong to obtain a license to supply crypto belongings to retail buyers. In November, Swiss crypto financial institution SEBA obtained a license from the Hong Kong Securities and Futures Fee (SFC) permitting it to provide numerous crypto-related companies to purchasers within the area.
Associated: Proprietor of Hong Kong crypto alternate OSL secures $90M funding
The Hong Kong crypto scene was confronted with a scandal in September, nonetheless, when unlicensed crypto alternate JPEX allegedly scammed buyers out of almost $165 million.
A month later, the SFC up to date its crypto insurance policies “in gentle of the newest market developments and inquiries from the business” to state that sure digital foreign money choices will solely be obtainable to skilled buyers. Furthermore, crypto intermediaries ought to “assess whether or not purchasers have data of investing in digital belongings” earlier than dealing with transactions.
In keeping with a latest survey by the Investor and Monetary Schooling Council of Hong Kong, solely 47% of retail buyers in Hong Kong are conscious of native digital asset rules.
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