On Thursday February 8th, Hong Kong’s government announced the initiation of a public consultation period for legislative proposals to establish a licensing regime for providers of over-the-counter (OTC) virtual asset trading services.
That public consultation period ends on April 12, 2024.
They say that there have been some fraud cases involving OTC desks, so they see it as necessary to include OTC desks under their Anti Money Laundering Ordinance.
OTC desks would need to apply for a license, so that any desk that operates without a license or anyone who promotes such services, can be prosecuted under the law.
Budha Mercury rules exchanges, trading and finer accounting matters. On February 8th when Hong Kong announced this new initiative, Budha Mercury was transiting in the Aries pada of Shravana Nakshatra.
Shravana Nakshatra is ruled by the Moon and has a particular social sensibility, which combined with the hard working and financially motivated sign of Capricorn, has a special affinity with formidable peer to peer transactions.
Aries, where Budha transited in the Navamsha, is where Jupiter, Who rules policy matters and also greater knowledge, transited in the sky. Budha was entering into kendra to Jupiter on that day, and this is why the Hong Kong Government opened up a knowledge gathering period of sorts, to gain further understanding on how to create policy for OTC desks.
On April 12th when they end their public consultation period, Mercury will have just retrograded past Sun which typically brings sharp insight into a certain matter at hand, and Moon will be in Rohini Nakshatra. The position of Mars and Saturn in the sky on that day also lends to the empowerment of law enforcement to make constructive progress on intense issues.
So I don’t know if the Hong Kong government is using an astrologer to schedule their calendar, but it does look like they have picked a great date for their consultation period to come to a close.