Hong Kong Eases Crypto Regulation

The Hong Kong Bureau of Financial Services and Treasury has released a statement on easing restrictions on cryptocurrencies and willingness to engage with Virtual Asset Service Providers (VASPs).

According to the document, the administrative region of China invites such companies to cooperate. The city is currently discussing a new licensing regime for virtual asset service providers.

The regulator has noted Hong Kong is also open to crypto exchange-traded funds and has promised to ensure appropriate regulatory mechanisms and investor protection.

SFC deputy head Julia Leung has said:

“The Hong Kong Securities and Futures Commission (SFC) is actively developing rules for issuing licenses for ETFs that provide access to popular virtual assets.”