Hong Kong Revises Digital Asset Guidelines

Hong Kong Revises Digital Asset Guidelines



On October 20, the Hong Kong Securities and Futures Commission (SFC) released new guidelines, replacing the January 2022 directive regarding digital asset activities.



This move followed an uptick in queries from intermediaries about distributing such assets, which the SFC and the HKMA noted.



Tracing back to 2018, the SFC set up regulations for digital assets, including a rule that primarily allowed the distribution of digital asset funds to "professional investors."



However, a more diverse range of investment opportunities, catering to both retail and professional sectors, has since emerged. Hence, the SFC now allows its licensed digital asset platforms to cater to the general public. This also includes greenlighting public virtual asset futures ETFs in Hong Kong.



In light of recent market trends and questions, both the SFC


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#Adoption, #Altcoin, #Bitcoin, #Blockchain, #Cryptocurrency, #Cryptomarket, #Cryptonewstoday, #Ethereum, #HongKong, #News

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