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 Hong Kong’s securities regulator is considering allowing investors to buy spot crypto ETFs (exchange-traded funds) as officials ramp up their efforts to create an Asia-Pacific digital asset hub, Bloomberg News reported.
 “We welcome proposals using innovative technology that boosts efficiency and customer experience,” said Securities and Futures Exchange (SFC) CEO&nbsp; Julia Leung in an interview with Bloomberg. “We’re happy to give it a try as long as new risks are addressed. Our approach is consistent regardless of the asset.”
 <img decoding="async" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%200%200'%3E%3C/svg%3E" alt="Hong Kong Securities Regulator To Release Comprehensive Tokenization Guidance | AZCoinNews on Binance Feed" data-lazy-src="https://cdn.thebittimes.com/images/2023/11/06/4bc74e2c38e3a9909a9f2c7acafd4208.webp">
 <noscript><img decoding="async" src="https://cdn.thebittimes.com/images/2023/11/06/4bc74e2c38e3a9909a9f2c7acafd4208.webp" alt="Hong Kong Securities Regulator To Release Comprehensive Tokenization Guidance | AZCoinNews on Binance Feed">
 </noscript>
 <h2 id="span-style-font-weight-400-hong-kong-regulators-relax-spot-crypto-etf-rules-span">Hong Kong Regulators Relax Spot Crypto ETF Rules</h2>
 The SFC tightened its regulation around digital assets in January this year and restricted retail investors from accessing spot cryptocurrency ETFs. Only professional investors with portfolios worth at least HK$8 million (about $1) were able to access these spot cryptocurrency ETF products.
 These restrictions were then revised in October to allow a wider range of investors to take part in spot cryptocurrency ETF investing. The updated rule book now requires Hong Kong-based investors to pass a knowledge test and meet a net worth requirement less than the initial 8 million HKD threshold.&nbsp;
 “As the crypto ecosystem evolves step-by-step to the point where we’re comfortable, then we’re happy to open up more access to the wider investing public,” Leung told Bloomberg in the interview.
 <h2 id="span-style-font-weight-400-sfc-officials-push-to-make-hong-kong-a-crypto-hub-span">SFC Officials Push to Make Hong Kong a Crypto Hub</h2>
 Officials are also exploring tokenization, which is a segment that has long been touted as a potential key use case for distributed ledger technology. Leung stated that she expects to see experimentation with “different levels of tokenization” initially, Bloomberg reported.
 Hong Kong is among a number of jurisdictions trying to develop digital-asset hubs as the cryptocurrency space gradually recovers from the $1.5 trillion market crash that it experienced last year. 
 Other jurisdictions looking to compete include Singapore, Dubai and the EU. The U.S. has is imposing a clampdown on the sector.&nbsp;
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 Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/hong-kong-regulator-says-it-s-considering-allowing-spot-crypto-etfs-bloomberg-tbt69211.html">https://thebittimes.com/hong-kong-regulator-says-it-s-considering-allowing-spot-crypto-etfs-bloomberg-tbt69211.html</a>
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Hong Kong Regulator Says It’s Considering Allowing Spot Crypto ETFs: Bloomberg

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