Bitcoin

According to the Hong Kong Economic Journal, HashKey will launch a retail trading platform application targeting individual investors on the 28th (next Monday). Initially, retail investors can invest in Bitcoin and Ethereum, with the restriction that investments in virtual assets cannot exceed 30% of total assets. 
A tiered system will be established for retail investors, which will assess investors' past experience and risk tolerance through the Know Your Customer (KYC) process, as well as questionnaire-based evaluations of their understanding of virtual assets. Novice investors' participation will be relatively limited. Additionally, the Securities and Futures Commission has not yet provided permission for margin trading and derivative tools. In the future, if regulatory approval is granted, the platform will also introduce various products tailored to different types of users. 
The platform has partnered with several commercial banks, including HKD issuing banks, to provide users with fiat currency deposit and withdrawal services. It will initially support USD transactions and not yet support HKD; only bank card transactions are accepted for now, and credit cards are not supported. If retail investors' investments in virtual assets on the platform exceed 30% of their total assets, a risk warning will be issued, and investment will be restricted. However, the platform cannot verify users' total assets, relying only on users' self-provided information. 
Related: <a target="_blank" href="https://tokeninsight.com/en/news/hashkey-exchange-becomes-first-licensed-crypto-exchange-in-hong-kong-to-offer-retail-services" rel="noopener noreferrer nofollow">HashKey Exchange Becomes First Licensed Crypto Exchange in Hong Kong to Offer Retail Services</a> 
<img src="https://s2.tokeninsight.com/static/calendar/img20230821024348982a31cd-02a9-40c4-ada1-195ff57e8ea0.jpg"> 
Stay updated with the most important <a target="_blank" href="https://tokeninsight.com/en/news" rel="noopener noreferrer nofollow">cryptocurrency news</a> and valuable insights, conveniently delivered to your email every day. <a rel="noopener noreferrer nofollow" target="_blank" href="https://mailchi.mp/tokeninsight/newsletter">Subscribe to the TokenInsight mailing list now!</a> 
Prefer social media? Follow us on <a rel="noopener noreferrer nofollow" target="_blank" href="https://twitter.com/tokeninsight">Twitter</a>, or subscribe to our <a rel="noopener noreferrer nofollow" target="_blank" href="https://t.me/TokenInsightchannel">Telegram channel!</a> 
If you have news reports or announcements that you want to reach a wider audience, feel free to email us at <a href="mailto:news@tokeninsight.com" rel="noopener noreferrer nofollow">news@tokeninsight.com</a>

HK First Licensed Retail Exchange HashKey to Launch Retail Trading Platform App

TokenInsight

Other articles published on Aug 21, 2023

Bitcoin (BTC) Surges to $30,000, But There's a Catch

Avalanche to Unlock $103 Million Worth of AVAX!

The Fate Of ARK's Bitcoin ETF: A Prolonged Wait?

Leading the Charge in DeFi: Spotlight on Solana, Chainlink, Tradecurve

Decentralized Social Network Friend.tech Surpasses $1M in Fees within 24 Hours

Technical Indicators Signal Potential Reversal as MATIC Price Rebounds

Join our free newsletter for daily crypto updates!