Hong Kong Considers Allowing Spot Crypto ETFs in Effort to Become Leading Digital Asset Hub: Report
Hong Kong is reportedly considering the possibility of allowing spot cryptocurrency exchange-traded funds (ETFs) in addition to the futures-based crypto ETFs currently allowed. The CEO of Hong Kong’s Securities and Futures Commission, Julia Leung, stated that the city-state welcomes proposals using innovative technology that boost efficiency and customer experience, as long as new risks are addressed. This move comes as Hong Kong aims to become a leading digital asset hub, with the rollout of a virtual assets regulatory framework earlier this year. Reports also suggest that the Hong Kong Monetary Authority has pushed for banks in the city-state to offer their services to licensed crypto exchanges.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Cryptocurrency liquidations surpass $1,1 billion after surge in Ethereum, Bitcoin and Solana
BlackRock and SEC discuss staking and options in crypto ETFs
Pectra Update Raises Ethereum Staking Limit Without Threatening Decentralization, Says Consensys
SEC Commissioner Slams Ripple Settlement as Legal Battle Nears End
A senior U.S. Securities and Exchange Commission (SEC) official has criticized a proposed settlement between the agency and Ripple Labs, potentially marking the final chapter of a years-long legal dispute over the XRP token.
Trending news
MoreCrypto prices
More
