Hong Kong regulators have announced that they are open to considering applications for spot crypto exchange-traded funds (ETFs). The Securities and Futures Commission (SFC) and Hong Kong Monetary Authority (HKMA) issued a joint statement acknowledging the changing virtual asset environment since 2018. Previously, the SFC had implemented a regulatory approach that limited participation to professional investors only. However, Hong Kong has been adopting a more relaxed stance towards cryptocurrencies this year, and the regulators’ perspective on retail exposure to digital assets has shifted.
In October, the SFC updated its rule book to allow a wider range of investors to engage in spot-crypto and ETF investing. Furthermore, SFC Chief Executive Officer Julia Leung recently stated that the regulator is moving towards permitting retail investors to purchase spot crypto ETFs. The SFC also expressed its openness to proposals that utilize innovative technology to enhance efficiency and customer experience, as long as any associated risks are adequately addressed.
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| Information | Details |
|---|---|
| Geography | Asia |
| Countries | ðŸ‡ðŸ‡° |
| Sentiment | positive |
| Relevance Score | 1 |
| People | Julia Leung |
| Companies | Securities and Futures Commission, Hong Kong Monetary Authority, SFC Chief Executive Officer Julia Leung |
| Currencies | None |
| Securities | None |
