Bitcoin and Stablecoin Regulation in Hong Kong: HashKey Exchange Opens New Token Listings
Bitcoin and Stablecoin Regulation in Hong Kong: HashKey Launches New Tokens
Hong Kong-based HashKey Exchange, one of the city’s two licensed cryptocurrency exchanges, has secured approval to offer two additional tokens to retail investors, extending beyond Bitcoin and Ether. Retail investors can now buy Avax and Link with Hong Kong and US dollars, reflecting the Asian financial hub's intent to regain its status as a leading virtual asset hub.
Pushing the Boundaries of Cryptocurrency
HashKey's CEO, Livio Weng, emphasized the implications of these new listings, stating, “This implies that Hong Kong will speed up in the area of Web3.” The launch signifies a notable acceleration in regulatory approvals, especially after prominent political figures such as Donald Trump and Kamala Harris expressed support for enhancing the cryptocurrency industry in the US.
Market Dynamics: New Listings Amid Changing Regulations
- Avax has a market capitalisation of approximately US$10.7 billion.
- Link holds about US$7 billion in circulation.
- These tokens are now part of the first batch to gain regulator approval for retail trading in over a year.
As Hong Kong strives to be at the forefront of the cryptocurrency market, Weng noted that more token listings may soon receive the green light. Despite previous setbacks with global platforms withdrawing applications, the city is pushing forward with regulations aimed at rejuvenating its virtual asset sector.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.