Hong Kong's Securities and Futures Commission will allow retail trading in a select group of cryptocurrencies as it attempts to introduce regularity clarity to crypto, according to a Reuters report. By JamieCrawleyCD
The watchdog plans to propose a subset of tokens that will be approved, CEO of SFC, Julia Leung said at a panel discussion at the Asian Financial Forum in Hong Kong.by the South China Morning Post.
Hong Kong's virtual asset service provider regime will be focused on investor protection, the importance of which was hammered home by the collapse of FTX in November last year, according to Leung. The now bankrupt crypto exchange was once headquartered in Hong Kong. "Virtual assets have in the past year gone from peak to low [price] levels. The good thing is that when the froth is taken out from the system as platforms and some tokens collapsed, it focuses investors and sellers' minds on investor protection," Leung said.
Signals out of Hong Kong on the territory's aspirations for its crypto regime have been mixed in recent months.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Hong Kong wants to become crypto hub despite industry crisisThe government of Hong Kong remains committed to crypto development despite the ongoing industry crisis fueled by the FTX collapse, according to financial secretary Paul Chan.
Read more »
Hong Kong Firm With Ties to Bitmain Reorganizes to Focus on Crypto Asset Management and HedgingEXCLUSIVE: Hong Kong-based Metalpha is rebranding to push its crypto services to the forefront of its business. By egreechee.
Read more »
Hong Kong Reaffirms Commitment to Become Regional Crypto Hub – Regulation Bitcoin NewsHong Kong has reaffirmed its commitment to become a regional crypto hub following the collapse of cryptocurrency exchange FTX.
Read more »
Hong Kong’s Finance Regulator Calls for 'a More Solid Footing' for CryptoHong Kong's Secretary for Financial Services and the Treasury told lavender_au that the “blocks are ready” to build the city's crypto ecosystem.
Read more »
Oil jumps 3% on demand optimism as China borders reopen By Reuters*OIL PRICES JUMP OVER 3% ON DEMAND OPTIMISM AS CHINA BORDERS REOPEN - $CL_F OOTT
Read more »
Stocks extend gains on 'soft landing' hopes, China re-opening By Reuters*EUROPEAN STOCKS RISE ON 'SOFT LANDING' HOPES, CHINA REOPENING - 🇪🇺 🇩🇪 🇫🇷 🇮🇹 🇪🇸 🇳🇱 🇬🇧
Read more »