Hong Kong will allow retail crypto trading: Report
- Hong Kong lay out a strategy to become a leading Asian crypto hub with legal retail trading and digital-asset exchange-traded funds as part of a larger effort to reestablish its financial credentials.
- The government said Monday that it will consult on how the retail sector “may be allowed a sufficient degree of access” to tokens.
- The city asked global crypto exchanges to investigate potential as work on a new virtual-asset licencing framework intensifies.
- For the first time, the Securities and Futures Commission specified criteria for crypto ETFs, which initially could only invest in Bitcoin and Ether futures offered on CME Group Inc. markets. The regulator said futures portfolios might grow.
- SFC Deputy Chief Executive Julia Leung told reporters that asset managers and banks can immediately seek to launch such ETFs for retail investors.