At the start of Hong Kong Fintech Week, today Hong Kong’s government made a policy statement about crypto-assets, showing a cautious but slightly more open approach to what it refers to as virtual assets (VA).
The first pillar of the policy is a plan to regulate service providers in addition to its existing opt-in regulation of crypto exchanges. The key change is currently regulated crypto exchanges are restricted to professional investors and only one exchange has been licensed to date.
Secondly, the Securities and Future Commission will conduct a public consultation regarding how retail investors can be given a ‘suitable degree’ of access to crypto. It also acknowledges that ETFs have been allowed in other jurisdictions and is ‘open to the possibility’ in Hong Kong.
Article continues …
Want the full story? Pro subscribers get complete articles, exclusive industry analysis, and early access to legislative updates that keep you ahead of the competition. Join the professionals who are choosing deeper insights over surface level news.
