Crypto industry actors in Hong Kong have been trying to push back against a forthcoming law that would restrict legal cryptocurrency trading to professional investors, locking out 93% of the local population from the market.
In comments to the South China Morning Post published on Feb. 15, industry body Global Digital Finance warned that the proposed law would be likely to push retail traders to embrace unregulated platforms. Global Digital Finance represents cryptocurrency exchanges such as BitMEX, Huobi, Coinbase and OKCoin, and has been at the forefront of industry efforts to push back against the forthcoming legislation.