Hong Kong is assessing whether to allow retail investors to access crypto-related exchange-traded funds amid a push to become the top Asia-Pacific cryptocurrency hub.
- Hong Kong continues to move to establish itself as the premier digital asset hub for the Asia-Pacific region, as a report from Bloomberg indicates the special administrative region of China is assessing whether to allow retail investors to access crypto-related exchange-traded funds .
The debate around spot crypto ETFs has been ongoing across several major jurisdictions, with speculation about the launch of a spot BTC ETF in the U.S. seen as the primary driving force behind the performance of BTC and the broader crypto market over the past several months. Hong Kong has been ramping up its efforts to be more welcoming to the crypto industry since rolling out its dedicated virtual asset regulatory framework in June. The region is looking to attract companies from around the world that want to advance the realm of digital asset technology, promising to support them in their endeavors, which is a starkly different approach than regulators in the U.S. have taken.
“The incident underscores the requirement for a robust, comprehensive regulatory framework,” Leung said. The SFC has enhanced transparency over applications for virtual-asset exchange licenses, she added. “By adopting a see-through approach, the SFC is of the view that it is appropriate to allow primary dealing of tokenized SFC-authorised investment products,” the regulator said in the circular.
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