News - Will the financial regulator allow crypto ETFs?

By Mike Hesp

Will the financial regulator allow crypto ETFs?

Hong Kong is open to allowing crypto ETFs. Regulations are also becoming more crypto-friendly.

Will Hong Kong's financial regulator allow a Bitcoin Spot ETF for retail investors?

"We are willing to try it as long as the risks are considered. Our approach is consistent regardless of asset type," quotes Bloomberg Julia Leung, Chief Executive Officer of the Securities and Futures Commission (SFC) of Hong Kong.

In doing so, the regulator signals fundamental support for crypto-based ETFs.

Private investors have only been allowed since June of this year participate to the local crypto market. So far, only two exchanges are licensed: a BC Technology Group exchange and the HashKey Exchange.

In the wake of the JPEX scandal, in which $182 million was allegedly embezzled, the SFC is working on comprehensive regulations for crypto.

Download the Anycoin App

Finally, a crypto app for everyone!

Check it out