Hong Kong is taking steps towards legalising retail trading of crypto assets, in a reversal that contrasts Beijing’s crackdown on such transactions in mainland China.
The Chinese territory’s regulators are also exploring the listing of crypto exchange traded funds, Hong Kong’s financial authorities said on Monday, as the city’s rivalry with Singapore for regional financial hub intensifies.
The Securities and Futures Commission has been “actively looking to set up a regime to authorise ETFs providing exposure to mainstream virtual assets with appropriate investors’ protection guardrails,” said deputy chief executive and executive director Julia Leung.