Hong Kong has confirmed that it will allow retail trading of certain cryptocurrencies starting from 1 June. This move was widely expected and is part of Hong Kong's broader effort to become a global crypto hub. Bitcoin reacted positively to the news, rising 1.7% to $27,293.64. However, Bitcoin and Ether are on track for their worst month of 2021, with historically low levels of weekly trading volume reported for major crypto assets. Experts anticipate that the cryptocurrency market will continue to consolidate and trade in sync with the overall market outlook, with a potential shakeout before a rebound as fears of an impending recession loom in the second half of 2021.
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Hong Kong to Allow Retail Crypto Trading from June 1, Bitcoin Rises 1.7%
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