While China remains adamant about embracing digital assets, Hong Kong proudly showcases its friendly stance with the approval of several ETFs, strengthening its position as a digital asset hub.
As the deadline looms, Hong Kong has reiterated its pledge to shut down all unlicensed VASPs by the end of May, even as it called for vigilance from investors.
Any virtual asset service provider (VASP) operating in the special administrative region within this timeframe must obtain a license from the SFC or wind down operations.
With its Securities and Futures Commission license, SEBA Hong Kong can now fully conduct digital assets-related products in the country. This positions the company as a trusted and regulated partner in APAC market.
Hong Kong is looking at permitting retail access to digital currency spot ETFs, following a careful regulatory approach for investor protection.
The Securities and Futures Commission’s two circulars note that the regulatory framework stems from the surging "market demand" in the industry and aims to ensure the safety of residents investing in tokenized assets.
Hong Kong adapts to new digital currency regulations, while the SFC and HKMA implement vital investor protection rules for intermediaries.
The new working group will facilitate information sharing between the two on exchange breaches; meanwhile, JPEX converted user funds to native tokens as it turned into a decentralized autonomous organization.
The Securities and Futures Commission will soon release a framework centered on tokenizing investments, including stocks and bonds, in support of the city-state's Web3 ambitions.
After the JPEX implosion, Hong Kong’s Securities and Futures Commission has listed the four exchanges that have applied for a license, with Huobi and OKX missing from the list despite public claims.
Hong Kong is responding to the collapse of JPEX with stricter regulations for digital currency providers, emphasizing investor protection and deterring misleading practices.
Hong Kong Securities and Futures Commision grants SEBA Bank with approval-in-principle to offer digital asset services and is set to be the first regulated digital currency bank in the country.
