Why news about Hong Kong and crypto trading won't be an instant boost
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From my understanding from what I’ve read, current crypto trading platforms have 9 months to become government regulated or they will be discontinued and new exchanges can be formed with government regulations from June 1st. With this in mind, the pump may come a few months after and help with the run up to the halving as the exchanges will have to go through the necessary government approval before they start to allow trading. So unless it’s a short pump in anticipation of June 1st, I don’t think a big pump will happen until later especially with the news that China just released a whitepaper for web3 innovation and development. Having said all that, I believe it is definitely bullish news long term as the more places that adopt crypto the better.
See below for one article explaining what can happen with the regulations and exchanges:
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