Hong Kong has approved digital asset trading for retail investors, but this does not necessarily mean that China is opening up to crypto. Despite being a special administrative region of China, the world's second largest economy is not yet ready to embrace crypto.

Hong Kong's move is seen as a regulatory sandbox for China, and it is hoped that it will attract more crypto investment to the city and the continent as a whole. However, the ultimate goal is for institutions to get involved and create products that can be sold to retail investors, which would "change the game."