Government-backed studies identify decentralized finance (DeFi) and metaverse technologies as crucial opportunities to strengthen the region's standing in the sector, offering a promising future for the industry. On June 25th, the Hong Kong Institute for Monetary and Financial Research (HKIMR), the Hong Kong Academy of Finance (AoF) research arm, released ...
Hong Kong officials have made a strong pitch to attract Canadian crypto and Web3 startups to set up shop on the island. At the Collision 2024 tech conference in Toronto, Emily Mo, director of the Hong Kong Economic and Trade Office in Toronto (Toronto ETO), led the charge, highlighting Hong ...
According to local news outlet The Korea Times, South Korean financial regulators are under increasing pressure to approve exchange-traded funds (ETFs) for crypto assets following the U.S. Securities and Exchange Commission's (SEC) decision to approve Ethereum ETFs. The country’s Financial Services Commission (FSC) have been reluctant to allow the trading ...
Hong Kong's Office of the Privacy Commissioner for Personal Data (PCPD) issued an enforcement notice demanding that the Worldcoin project stop all its operations in Hong Kong due to significant lapses in its data privacy practices and consent protocols. In a statement published on May 22, the privacy watchdog noted ...
There have been speculations regarding how Chinese investors from the mainland would gain access to the newly launched Bitcoin (BTC) and Ether (ETH) exchange-traded funds (ETFs) in Hong Kong. While these ETFs had a relatively poor reception during their first trading week compared to their U.S. counterparts, their launch has ...
Hong Kong's newly launched spot Bitcoin exchange-traded funds (ETFs) are struggling to match the selling and buying pressure of their United States-based counterparts. The debut of the first batch of Hong Kong Bitcoin and Ether-based ETFs on April 30 generated excitement among crypto holders. However, trading activity has been disappointing, ...
![As spot crypto exchange-traded funds (ETFs) debuted on the Hong Kong stock market, they potentially paving the way for Chinese investors to enter the cryptocurrency space. Some stakeholders in the Chinese financial industry, including China Asset Management’s CEO, Yimei Li, shared this sentiment. The introduction of these ETFs has sparked optimism among fund issuers and investors, hinting at the possibility of increased capital inflows from mainland China in the future. Li told Bloomberg TV that the launch of spot Bitcoin and Ether ETFs on April 30 "opens the door for a lot of RMB [Chinese yuan] holders" seeking alternative investments. China Asset Management, along with Harvest Global Investments and Bosera Asset Management, are the three ETF issuers that introduced crypto products on the Hong Kong Stock Exchange. RELATED: Hong Kong Set to Welcome Crypto Spot ETFs as Three Issuers Secure Regulatory Approvals While these ETFs are currently restricted to Hong Kong residents, Li expressed hope for mainland Chinese investors to participate in the future, stating, "As the opening up progresses, we definitely hope that multi-assets will be available for domestic investors." Crypto trading is prohibited in mainland China, but the new ETFs offer an investment avenue for those in Hong Kong. Harvest Global CEO Han Tongli noted in a different interview with Bloomberg that regulators are closely monitoring the ETFs' development to ensure risks are contained, indicating a potential gradual opening of the market. Jan3 CEO and Bitcoin pioneer Samson Mow commented on the significance of these ETFs, stating on X on April 30 that they "are going to be big" and could have "massive" long-term implications, as there are limited investment options for Chinese investors currently. In his words: “There is really nothing else for Chinese investors to put their money into at this time.” The remarks are in reaction to a statement by Bitcoin environmentalist Daniel Batten, who noted that all three Chinese stock exchanges experienced declines in 2023, and the real estate market remains unstable. However, mainland Chinese investors are currently barred from investing in Hong Kong's new ETFs, as confirmed by China Asset Management's Zhu Haokang. He mentioned that only qualified investors, institutional investors, retail investors, and international investors who meet the regulations can invest in cryptocurrency spot ETFs in Hong Kong. If you want to read more news articles like this, visit DeFi Planet and follow us on Twitter, LinkedIn, Facebook, Instagram, and CoinMarketCap Community. "Take control of your crypto portfolio with MARKETS PRO, DeFi Planet's suite of analytics tools.”](https://defi-planet.com/wp-content/uploads/2024/04/naira-350x250.jpeg)
As spot crypto exchange-traded funds (ETFs) debuted on the Hong Kong stock market, they potentially paving the way for Chinese investors to enter the cryptocurrency space. Some stakeholders in the Chinese financial industry, including China Asset Management’s CEO, Yimei Li, shared this sentiment. The introduction of these ETFs has sparked ...
Stakeholders in Hong Kong's crypto industry are urging regulators to expedite the launch of crypto spot exchange-traded funds (ETFs), according to a report from local media agency Singtao. While Hong Kong began accepting applications for spot Bitcoin ETFs in December 2023, no progress has been made regarding their launch in ...
Hong Kong’s government has released a public consultation document over proposed regulations that will tighten restrictions on over-the-counter (OTC) cryptocurrency trades. The proposed regulations align with the nation's Anti-Money Laundering and Counter-Terrorist Financing Ordinance (AMLO), which has been in effect since June 2023. OTC trades involve direct transactions between buyers ...
The Securities and Futures Commission (SFC) has announced that only platforms that have applied for a license and been approved by the SFC will be allowed to operate in Hong Kong after June 1, 2024. The regulator has also set February 29, 2024, as the last day for platforms to ...
