Bitcoin

JPEX

<div class="cryptonews">
 <p class="is-style-lead">Hong Kong’s securities regulator, the Securities and Futures Commission (SFC), may allow <a rel="noopener noreferrer nofollow" title="retail" href="https://thebittimes.com/tag/retail.html">retail</a> <a rel="noopener noreferrer nofollow" title="investors" href="https://thebittimes.com/tag/investors.html">investors</a> to buy spot crypto ETFs.</p>
 <p>Bloomberg, citing SFC CEO Julia Leung, writes that the regulator welcomes proposals using innovative technologies that improve efficiency and quality of customer service.</p>
 <blockquote class="wp-block-quote">
  <p>“We’re happy to give it a try as long as new risks are addressed. Our approach is consistent regardless of the asset.”</p> <cite>Julia Leung, SFC CEO </cite>
 </blockquote>
 <p>Although both the US and Hong Kong allow futures-based exchange-traded funds (ETFs), their adoption has been relatively modest compared to the broader fund industry.</p>
 <div class="cn-block-related-link">
  <svg class="cn-block-related-link__icon icon" aria-hidden="true"><use xlink:href="#"></use>
  </svg> <span class="cn-block-related-link__prefix"> You might also like: </span> Hong Kong Monetary Authority concludes first CBDC trial
 </div>
 <p>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.</p>
 <p>In September, Hong Kong took first place 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.</p>
 <p>However, after the scandal with the JPEX cryptocurrency exchange, the government will tighten oversight of cryptocurrencies. Police and the SFC recently formed&nbsp;a task force to combat illegal cryptocurrency exchange activity.</p>
 <div class="cn-block-related-link">
  <svg class="cn-block-related-link__icon icon" aria-hidden="true"><use xlink:href="#"></use>
  </svg> <span class="cn-block-related-link__prefix"> You might also like: </span> Hong Kong’s confidence in crypto sours amid JPEX scandal
 </div> <span class="google-news-banner__label">Follow Us on Google News</span>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/hong-kong-to-allow-retail-investors-to-participate-in-spot-etfs-tbt69150.html">https://thebittimes.com/hong-kong-to-allow-retail-investors-to-participate-in-spot-etfs-tbt69150.html</a></p>

Hong Kong to allow retail investors to participate in spot ETFs

TheBitTimes

Other articles published on Nov 6, 2023

Tesla to Integrate Elon Musk’s Grok AI Assistant into Electric Vehicles

FTX Seeks Approval to Sell Trust Assets Valued at $744 Million!

LIVE NOW: Stake To Win 2,000 USDT in MSTR Staking Competition!

7 Essential Metrics for Success in Web3 Hiring

Arbitrum's Proposal for $ARB Staking Rewards Poised for Approval

China to start using digital yuan for cross-border payments

Join our free newsletter for daily crypto updates!