- Hong Kong’s securities regulator will restrict the retail traders’ publicity to crypto property with excessive liquidity.
- Samsung’s funding arm will record Bitcoin futures ETF on the native inventory alternate.
Hong Kong has moved to embrace the crypto trade regardless of a ruthless winter that has discouraged neighboring nations like Singapore from investing on this risky trade. The island metropolis’s prime securities regulator lately issued a directive to drive funding in sure crypto property with excessive liquidity.
Extremely liquid crypto property for retail traders in Hong Kong
The Securities and Futures Fee (SFC) of Hong Kong has hinted on the introduction of latest laws that may promote digital property with excessive liquidity. In line with a report by the South China Morning Publish, the securities regulator has revealed that buying and selling in digital property might be restricted to extremely liquid merchandise for retail traders.
SFC CEO Julia Leung Fung-yee stated:
“Some digital property platforms have over 2,000 merchandise, however we don’t plan to permit retail traders to commerce in all of them. We’ll set the standards that may enable retail traders to [only] commerce in main digital property.”
The SFC is planning to concern a session paper within the subsequent two months. This paper will define the merchandise and circumstances for retail traders who want to commerce in digital property. The licensing necessities for digital asset buying and selling companies will even be detailed on this doc.
Samsung’s funding arm set to record BTC futures ETF
Hong Kong’s liberal stance on the crypto market has attracted the eye of tech large Samsung’s funding arm. Samsung Asset Administration Hong Kong (SAMHK), a subsidiary of Samsung’s funding arm Samsung Asset Administration, will list the Samsung Bitcoin Futures Lively ETF on Hong Kong’s inventory alternate on 13 January.
As of now, Hong Kong is the one Asian market that enables buying and selling of Bitcoin Futures ETFs. The Hong Kong Crypto Futures ETF at present boasts a buying and selling quantity of $70 million. Nevertheless, the regulatory readability from the island metropolis’s administration has additionally performed a serious half in attracting funding.