😱🚀New spot crypto ETF step coming from Hong Kong
in Hong Kong, which allows spot Bitcoin and Ether ETFs in 2022 and wants to become an important crypto center in the world, the goal is now to open these crypto ETFs to small investors. The statement was made by the head of the Hong Kong SEC.
The Securities and Futures Commission (SFC) in Hong Kong is now considering opening crypto ETFs to retail investors as well.
Speaking to Bloomberg from the US media, Julia Leung, the head of the institution, said, “As Hong Kong, we allow investment products that use innovative technology, regardless of which asset it is. After the problems created by the risks are eliminated, we do not see any obstacles in this sense. Therefore, we would be happy to open these investments to people,”he said.
Last month, the SFC updated its rules on “virtual asset-linked investments” for brokerage firms. Accordingly, brokerage firms have to subject their clients to a series of tests before granting investment approval, but professional and institutional investors are exempt from these tests.
As it will be remembered, Hong Kong updated its crypto regulations in June and paved the way for a small investor to be able to make crypto transactions as well.
Referring to the JPEX incident in Hong Kong in September, Leung said, “What needs to be done is to create a sound and protectionist regulatory system.”
As it will be remembered, in September, JPEX exchange managers disappeared with the assets of more than 2600 clients. more than $ 178 million worth of crypto money was stolen and 11 people were arrested as part of the investigation.
