The Securities and Futures Commission of Hong Kong has received many requests to approve crypto ETFs for trading.
The Securities and Futures Commission, or SFC, in Hong Kong is reviewing regulations surrounding virtual currency transactions, including whether individuals can invest in exchange-traded funds, or ETFs.
According to a report by South China Morning News on Wednesday, the 2018 regulations limited transactions of cryptocurrencies via funds or trading platforms to professional investors with at least HK$8 million ($1,028,624.00) to invest.
SFC's deputy chief executive Julia Leung Fung-yee stated that the re-evaluation will be made "to see if it is still fit for purpose and whether modifications are required." Fung-yee, speaking at the 2021 Hong Kong Financial Technology Week conference, said that “virtual assets are edging toward traditional finance,” hence, the need to review the laws.
“More, [and] different types of virtual asset investment products are available and conventional exchanges overseas now offer cryptocurrency ETFs.”
Read more: https://cointelegraph.com/news/hong-kong-regulator-re-evaluates-retail-crypto-etfs-laws
Topic: [2021-11-01] Hong Kong regulator re-evaluates retail crypto ETFs laws (Read 58 times)
November 03, 2021, 11:56:17 PM
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