🇨🇳 China is craving for Bitcoin
Hong Kong will allow retail investors to trade Bitcoin starting June 1; China has mentioned Bitcoin on state television.
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A few months ago, the Hong Kong authorities announced their plans to grant retail investors access to bitcoin and crypto trading. This week, further details regarding the regulations were unveiled. To offer trading services, digital assets must be listed on at least two indexes, and exchanges must obtain the necessary licenses. Huobi and Gate have already applied for local licenses, signaling their interest in this market.
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Interestingly, a report on Bitcoin and blockchain technology was aired on Chinese national television. Binance's CEO, Changpeng Zhao, acknowledged this development in a tweet. However, it is worth noting that the report was unexpectedly removed from the broadcast just 24 hours later.
While China and Hong Kong do not officially permit bitcoin trading as of May 29, 2023, it does not deter their citizens from owning bitcoin. Moreover, reports suggest that the government utilizes bitcoin and USDT for trading fentanyl with Mexico, despite the regulatory restrictions.
From Bitcoin Herald