Hong Kong relaxes regulations, allowing more retail investors to access crypto ETFs while still maintaining necessary safeguards.
A major change is coming to Hong Kong’s Securities and Futures Commission (SFC). The public is now able to invest in cryptocurrency using ETFs. In an interview with Bloomberg, Julia Leung, head of the SFC, said, “We’re happy to give it a try as long as new risks are addressed.” They say they’re willing to give it a go as long as safety is prioritized, and that their method is consistent across all assets.
Hong Kong’s Securities and Futures Commission (SFC) has shown a lot of crypto-friendly attitudes. Their regulations have altered a lot this year.
At first, back in January, they made it difficult for average individuals to purchase cryptocurrency ETFs. Only wealthy investors with a minimum of HK$8 million ($1 million) could afford to participate. However, it all changed in October. More individuals may invest now than ever before, provided they take the time to educate themselves and set aside a little sum of money.
The SFC has said, “We amended the regulations because the market is evolving and individuals in the industry want more people to be allowed to acquire crypto. Now that there are safeguards in place, users may trust businesses with their cryptocurrency holdings and make investments. Cryptocurrency vendors have a responsibility to warn customers.
According to Leung, “As we get settled with how the crypto world is developing, we will let more people invest in the digital currency.”