The Hong Kong government is reconsidering its stance on virtual asset ETFs, tokenized securities and retail investors.
The government says it is ready to engage with virtual asset service providers and invite them to the city. The Hong Kong government has proposed allowing retail investors to trade in cryptocurrencies and crypto exchange-traded funds.
Hong Kong More Moderate to Digital Assets
Hong Kong’s Financial Services and Treasury Bureau released a policy statement on virtual assets at the launch of its tech conference, Hong Kong FinTech Week.
The statement stated that Hong Kong is ready to engage with global virtual asset service providers and invite them to the city. The Hong Kong Legislative Council, the Special Administrative Region of the People’s Republic of China, is currently reviewing Hong Kong’s new licensing regime as part of the proposed amendments to the Anti-Money Laundering and Anti-Terrorism Financing Regulation. The regime will enter into force on 1 March next year.
According to the policy statement, the Hong Kong Securities and Futures Commission will hold a public consultation on how retail investors can be given licensed exchanges an appropriate degree of access to virtual assets.
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