Bitcoin Surges as Hong Kong Embraces Crypto Trading for the Masses

Bitcoin and Ethereum prices have both risen after the news that Hong Kong will allow licensed retail trading of both cryptocurrencies starting from June 1. According to a report from the Hong Kong Securities and Futures Commission, qualified professional investors will be able to trade Bitcoin and Ethereum at licensed digital asset trading platforms. The news was expected, but it provides “confirmation” that is important in the current lackluster market, according to Noelle Acheson, author of the Crypto Is Macro Now newsletter. The timing coincides with the recent non-macro-related spot-based move. “This is not a total surprise – the ruling and the timing were largely expected. But confirmation matters more in a lackluster market with headwinds coming from other vectors,” Acheson said.

J-S Tremblay
About the author - J-S Tremblay

I've been involved in the cryptocurrency world since 2016 and trading since 2019. I started Moon and Lambo in 2021. I'm passionate about crypto and love to share my knowledge. I hate bankers and I hope that cryptocurrency will change the financial world for the better. View full profile...

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