Bitcoin

JPEX

Hong Kong’s securities regulator, the Securities and Futures Commission (SFC), may allow retail investors to buy spot crypto ETFs.
<a href="https://www.bloomberg.com/news/articles/2023-11-05/hong-kong-mulls-allowing-spot-crypto-btc-etfs-sfc-s-leung-says" target="_blank" rel="noopener noreferrer nofollow">Bloomberg</a>, citing SFC CEO Julia Leung, writes that the regulator welcomes proposals using innovative technologies that improve efficiency and quality of customer service.
<blockquote class="wp-block-quote">
 “We’re happy to give it a try as long as new risks are addressed. Our approach is consistent regardless of the asset.” <cite>Julia Leung, SFC CEO </cite>
</blockquote>
Although both the US and Hong Kong allow futures-based exchange-traded funds (<a href="https://crypto.news/tag/bitcoin-etf/" data-type="link" data-id="https://crypto.news/tag/bitcoin-etf/" rel="noopener noreferrer nofollow">ETFs</a>), their adoption has been relatively modest compared to the broader fund industry.
You might also like: <a href="https://crypto.news/zodia-custody-expands-to-hong-kong/" rel="noopener noreferrer nofollow"> Hong Kong Monetary Authority concludes first CBDC trial </a>
Hong Kong currently has ETF listings such as&nbsp;Samsung Bitcoin Futures Active, CSOP Bitcoin Futures, and CSOP Ether Futures, with a total combined asset value of approximately $65 million.
In September, Hong Kong <a href="https://crypto.news/how-hong-kong-became-the-new-hub-for-cryptocurrencies/" rel="noopener noreferrer nofollow">took first place</a> in the ranking of countries and territories most prepared to implement cryptocurrencies. Its victory was ensured by a zero tax rate, a large number of cryptocurrency ATMs, and crypto companies.
However, after the scandal with the JPEX cryptocurrency exchange, the government <a href="https://crypto.news/hong-kong-plans-to-flag-suspicious-crypto-platforms-amid-jpex-scandal/" rel="noopener noreferrer nofollow">will tighten</a> oversight of cryptocurrencies. Police and the SFC recently formed&nbsp;a task force to combat illegal cryptocurrency exchange activity.
You might also like: <a href="https://crypto.news/hong-kongs-confidence-in-crypto-sours-amid-jpex-scandal/" rel="noopener noreferrer nofollow"> Hong Kong’s confidence in crypto sours amid JPEX scandal </a>

Hong Kong to allow retail investors to participate in spot ETFs

crypto.news

Other articles published on Nov 6, 2023

GROK Tokens Inspired by Twitter’s Grok AI Chatbot Surge

Met Police Utilize Facial Recognition for Arrests at Pro-Palestine March

Solana Surges: Bulls Eye $50 Amidst Market Momentum

Web3 firm AIITONE rebrands as BU Technology, adding new business objectives

XRP: Crypto Exchange Bitrue Shares Important Update for XRP Holders

Bitcoin Wallets with at Least $1,000 Worth of BTC Reach Record High

Join our free newsletter for daily crypto updates!