HashKey Capital has received approval from Hong Kong’s Securities and Futures Commission to offer discretionary account management services for cryptocurrencies under its Type 9 license.
This allows the firm to manage investment products, including spot cryptocurrencies, derivatives, and over-the-counter trades for high-net-worth clients.
Addressing investor concerns, Vivien Wong, Partner at Liquid Funds, noted that market participants have historically been cautious about entering the virtual asset space due to its inherent risks. However, she emphasized that HashKey Capital’s discretionary account management services would offer clients greater confidence in navigating this evolving sector.
The approval enables HashKey Capital to manage portfolios across several pre-approved cryptocurrency exchanges, offering investors greater flexibility. The firm will handle all aspects of asset management, including allocation, monitoring, and rebalancing, allowing clients to concentrate on their financial goals.
Wong further highlighted that professional investors are eager to capitalize on emerging opportunities in crypto while ensuring compliance with regulatory requirements. Striking a balance between innovation and regulatory adherence remains crucial as the digital asset landscape evolves.
Meanwhile, HashKey Group is expanding its footprint beyond Hong Kong. On January 13, 2025, the company announced that its MENA subsidiary had received conditional approval for a Virtual Asset Service Provider (VASP) license from Dubai’s Virtual Assets Regulatory Authority (VARA). This license will enable HashKey MENA FZE to offer Virtual Asset Exchange and Broker-Dealer Services to retail and institutional investors within and beyond Dubai. The approval is also expected to bolster HashKey OTC’s regulated activities across the Middle East.
At the same time, Hong Kong is reinforcing its ambition to become a global crypto hub. The SFC proposes expanding its oversight team by planning to hire 15 additional staff members for the 2025–26 financial year, with eight focused on virtual asset regulation. The budget proposal presented on February 3 projects the SFC’s recurrent expenditure to rise to HK$2.59 billion, marking a 7.2% increase from the previous year.
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