Hong Kong authorities have decided to relax the regulation of cryptocurrencies, effective Thursday, June 1. Until now, cryptocurrency exchanges were reserved for a handful of wealthy customers, those whose wallets weighed at least 8 million Hong Kong dollars (about 950,000 euros) Hong Kong authorities hope to revive their economy, shaken by the pro-democracy protests of 2019 and health restrictions related to the Covid-19 pandemic.
According to several observers, Hong Kong could become a mandatory crossing point for investors from mainland China, where cryptocurrencies are virtually banned.