It is speculated that Hong Kong will open up cryptocurrency trading to all citizens in June this year.

Hong Kong will open up cryptocurrency trading or speculation to all citizens in June this year, according to a message that Coinbase CEO Brian Armstrong recently retweeted on Twitter, which has attracted market attention. The Twitter user stated,"On June 1, 2023, Hong Kong will officially make buying and selling cryptocurrencies and trading completely legal for all citizens, and is expected to see a large amount of capital flow from the East. Hong Kong will also introduce stablecoins based on Asian currencies." Upon verification, it was found that the message may be speculative from a netizen, and the source of the news comes from the speech by Hong Kong Financial Secretary Paul Chan at the web3 conference in Hong Kong in January this year. At the time, Chan stated that "Hong Kong has completed the legislative work for setting up a licensing system for virtual asset service providers, and the new system will be implemented in June this year. Under the new system, the requirements for anti-money laundering, counter-terrorism financing, and investor protection for virtual asset exchanges will be consistent with those currently applicable to traditional financial institutions, and it is believed that it will provide a certain degree of market recognition for virtual asset exchanges. Financial intermediaries and banks will be able to cooperate with licensed virtual asset exchanges to provide trading services to customers, subject to meeting relevant regulatory requirements."