Cryptocurrency prices moved higher on Tuesday after Hong Kong’s securities regulator announced it will allow retail trading of certain crypto assets starting June 1.

BitcoinEther advanced nearly 2% to $1,851.91.

Late Monday night, Hong Kong’s Securities and Futures Commission said it would allow retail investors to trade certain crypto assets beginning next month on registered trading platforms. The move was widely expected, with the announcement marking the end of a request for public comment it put out in February on its proposed regulatory requirements around retail trading in crypto.

The new guidelines are part of a broader effort of Hong Kong’s to become a global crypto hub. That ambition is in sharp contrast with China, which banned crypto trading in 2021, as well as the U.S. where the regulatory stance toward crypto has turned hostile since the collapse of FTX.

Source: CNBC
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