Hong Kong mulls permitting spot ETFs tied to digital currencies after JPEX
Hong Kong is looking at permitting retail access to digital currency spot ETFs, following a careful regulatory approach for investor protection.
Hong Kong is looking at permitting retail access to digital currency spot ETFs, following a careful regulatory approach for investor protection.
The incoming rules for digital asset service providers are expected to come into effect on June 1, but the Securities and Futures Commission is yet to give the nod to any exchange to cater to the retail market.
Julia Leung, head of the Hong Kong Securities and Futures Commission, said digital currency platforms are integral to the blockchain industry, requiring tighter regulations.
The job cuts at the start of 2022 are not stopping Huobi from expanding into other markets, as it bares its plan to apply for a trading license in Hong Kong and create a new entity.
Hong Kong’s SFC has asked the public for opinions on whether centralized digital currency exchanges in the country should be allowed to serve retail customers and what regulations to implement.
The new trading restriction will take effect once the new licensing regime for digital assets passes in June.