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[aryan4]

The Hong Kong government is introducing a law proposal to prohibit retail investors from trading cryptocurrencies and authorize all virtual asset trading platforms to operate in the region.
Experts in the cryptocurrency industry say Hong Kong's move will cause it to lose its competitive edge in the cryptocurrency space.
What do you think about this arrangement that can only cover small retail investors?

 

[Yugocean]

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[kaycee001]

I think small retail investors are the target here which is very unfair by the government.it will be better if these investors can merge and form bigger investors or relocate to another country to country to continue with their investments .the former i think should be a better option if am to suggest.

 

[Hashay]

Yeah , it will take more than one government to stop the cryptocurrency . But the way things are going , I think crypto will stay.

Many countries government are trying to restrict crypto now, india, china have restricted crypto, I heard Malaysia is planning to restrict crypto too

 

[Josemendez]

Many countries government are trying to restrict crypto now, india, china have restricted crypto, I heard Malaysia is planning to restrict crypto too

Well , it is only in their country . The rest of the world are enjoying cryptocurrency. And more countries are keying into it as a legal tender

 

[Hashay]

Well , it is only in their country . The rest of the world are enjoying cryptocurrency. And more countries are keying into it as a legal tender

That's the things about we crypto users, we can be resilient despite the ban we still find a way around it to gain the benefits crypto is offering.

 

[Josemendez]

That's the things about we crypto users, we can be resilient despite the ban we still find a way around it to gain the benefits crypto is offering.

Well , as far as cryptocurrency is still available in some countries , users who cryptocurrency has been banned in their country will surely find way to use it

 

[CryptoStar19]

It wouldn't be surprising, China sees crypto as competition against their CBDC.

 

[Hashay]

Well , as far as cryptocurrency is still available in some countries , users who cryptocurrency has been banned in their country will surely find way to use it

At the rate at which technology is growing fast and we're fast adapting to it, we might just have more resilient people, if the whole world place a ban in crypto, well still find a way to use it.

 

[BullyMaguire]

Investors and traders can still do it using vpn im sure they will find a way to continue. It feels bad jot having the freedom to do so though

 

[Hashay]

That's something to consider before embarking on crypto currency, if there are no restrictions in your area to help with whatever you want to achieve.

 

[microunit]

Yeah , it will take more than one government to stop the cryptocurrency . But the way things are going , I think crypto will stay.

I doubt that governments can completely stop or erase all cryptocurrencies, as cryptocurrencies already have grown so much in recent years

 

[Josemendez]

I doubt that governments can completely stop or erase all cryptocurrencies, as cryptocurrencies already have grown so much in recent years

Actually they can do so just with a single ban on cryptocurrency during world summit will crumble cryptocurrency ,but the fact is that it will take time before all of them will agree to it.

 

[microunit]

Actually they can do so just with a single ban on cryptocurrency during world summit will crumble cryptocurrency ,but the fact is that it will take time before all of them will agree to it.

I doubt that that ban is going to be positive though, as there are already alot of crypto enthusiast, even people and some companies already sees positive things with crypto and Blockchain

 

[AudraMiller]

The Hong Kong government is introducing a law proposal to prohibit retail investors from trading cryptocurrencies and authorize all virtual asset trading platforms to operate in the region.
Experts in the cryptocurrency industry say Hong Kong's move will cause it to lose its competitive edge in the cryptocurrency space.
What do you think about this arrangement that can only cover small retail investors?

China has definitely lost its edge in the cryptocurrency world especially by banning all cryptocurrency related acts and companies within their borders in order to promote their own digital currency. This had massive implications for the cryptocurrency world.

 

[Josemendez]

I doubt that that ban is going to be positive though, as there are already alot of crypto enthusiast, even people and some companies already sees positive things with crypto and Blockchain

Yeah that was why I said that it will take the whole country to ban cryptocurrency but it can't happen as some countries have came to adopt and accept bitcoin.

 

[Hashay]

Actually they can do so just with a single ban on cryptocurrency during world summit will crumble cryptocurrency ,but the fact is that it will take time before all of them will agree to it.

Oh well first, I don't think there is a world summit, the summit is usually grouped into different regions and continents and then again crypto is useful to some government, they won't agree to ban it

 

[microunit]

Yeah that was why I said that it will take the whole country to ban cryptocurrency but it can't happen as some countries have came to adopt and accept bitcoin.

Yeah , the reach if cryptocurrencies have already been widespread to multiple countries out there and many people already have assets in cryptocurrencies

 

[Hashay]

That's the more reason there can't be an outright ban on crypto currency, there's just to many people already involved in crypto currency.

 

[Hashay]

Hong Kong is in china right, china already restricted activities of crypto in the country so we would know how to see or help ourselves.

 

[Tomitomato]

This move would only cover small investors, it's not a suitable idea and although they are trying to ban crypto, it will be of disadvantage to them.