Hong Kong to allow crypto exchanges to access global liquidity pools

Hong Kong's Securities and Futures Commission (SFC) announced new measures to bolster its position as a crypto hub by allowing licensed local crypto trading platforms to connect with global liquidity pools through shared order books. This move shifts from the current localized settlement model and requires prior written approval from the SFC for any platform seeking this integration. SFC CEO Julia Leung stated this will provide local investors with better price discovery and more competitive pricing by tapping into global markets. Additionally, a separate SFC circular exempted tokens and stablecoins licensed by the Hong Kong Monetary Authority from the mandatory 12-month trading history rule for offering to professional investors. These regulatory relaxations are part of Hong Kong's strategy to remain globally competitive while balancing oversight to maintain trust and stability.

(Source：The Block)