The Securities and Futures Commission, Hong Kong’s markets regulator, has not made an official announcement.
Hong Kong-Based Asset Manager VSFG and Value Partners Apply for Spot Bitcoin ETF
Asset Manager VSFG, together with its partners, Value Partners, have applied for a spot-bitcoin exchange-traded fund (ETF) with Hong Kong’s Securities and Futures Commission (SFC), its Head of Investment & Products Brian Chan told CoinDesk on Wednesday.
Hong Kong’s Markets Regulator Issues Warning Against Crypto Exchange Bybit
Hong Kong’s markets regulator identified Bybit as a suspicious cryptocurrency exchange and placed several of its products on its suspicious investment products list.
Hong Kong’s Markets Regulator Issues Warning Against Crypto Exchange BitForex
Hong Kong’s regulator for securities and futures markets has warned the public about cryptocurrency exchange BitForex for suspected fraud, it announced Monday.
HTX Withdraws Hong Kong Crypto Exchange Application
Hong Kong’s securities regulators says HBGL Hong Kong Limited withdrew its application for a license on February 23.
Floki Team Responds to Hong Kong Regulator Warning
Hong Kong’s Securities and Futures Commission labeled Floki and its staking program a suspicious investment product.
Floki Team Responds to Hong Kong Regulator Warning
Hong Kong’s Securities and Futures Commission labeled Floki and its staking program a suspicious investment product.
Hong Kong Gets Spot-Bitcoin ETF Application, Stablecoin Interest From China’s Harvest Global: Reports
Venture Smart Financial Holdings is also aiming for a spot-bitcoin ETF and is involved in the discussions about the stablecoin sandbox.
Spot Crypto ETF Applications Will Be Considered, Hong Kong Regulators Say
The statement from the SFC and HKMA comes as expectations mount the U.S. SEC is on the verge of approving a spot bitcoin ETF.
Hong Kong Investment Firm Victory Securities Obtains Retail Crypto Trading License
The publicly traded company joins crypto-native firms HashKey Exchange and OSL Digital Securities with a license.
Swiss Crypto Bank SEBA Wins Hong Kong License
The bank’s Hong Kong unit can now deal in and distribute securities, including virtual assets-related products.
JPEX scandal won’t hurt Hong Kong crypto vision: Financial Secretary
Christopher Hui took the stage at Fintech Week and outlined a list of regulatory moves Hong Kong authorities are looking to implement following the JPEX scandal.
Hong Kong Reverses Stance on Spot-Crypto, ETF Investing, With a Catch
Hong Kong’s financial regulators have overturned previous guidance that limited the sale of spot crypto products to professional investors. But there’s a catch.
Hong Kong police, regulator form crypto task force as JPEX saga unfolds
The joint group was established in light of the ongoing crypto scandal in Hong Kong involving the JPEX crypto exchange.
Hashkey Enables AVAX Trading For Hong Kong Users – But There’s A Catch
Hong Kong-based cryptocurrency exchange Hashkey will now support trading the Avalanche (AVAX) token on its platform. However, traders must meet an interesting requirement before interacting with this cryptocurrency on the exchange.
Traders Must Meet $1 Million Portfolio Requirement: SFC
On Wednesday, September 27, Hashkey announced the listing of the AVAX token on its platform, with trading expected to commence on Thursday, September 28. However, only professional investors or individuals with an investment portfolio worth at least 8 million Hong Kong dollars (equivalent to $1 million), according to Hong Kong’s Securities & Futures Commission (SFC).
Attention #Crypto Enthusiasts! $AVAX @avax will be available on HashKey Exchange.
Deposit and withdrawal are live, and AVAX/USD trading pairs begins on September 28.
Professional investors, this one is for you ! #CryptoAlert
Read more: https://t.co/sKNFHDF6oe pic.twitter.com/ZQpzSmAi39— HashKey Exchange (@HashKeyExchange) September 27, 2023
Bitcoin (BTC), Ether (ETH), and Tether (USDT) are the only cryptocurrencies approved by the SFC for retail trading as of this writing. Meanwhile, other altcoins like AVAX are restricted to professional investors or individuals with a $1 million portfolio.
Since Hong Kong authorized retail crypto trading in August, the Securities & Futures Commission has placed significant restrictions on the operations of exchanges, including Hashkey. For instance, SFC requires users to deposit at least 10,000 Hong Kong dollars (or $1,500) during the Know Your Customer (KYC) verification process.
According to CoinGecko data, Hashkey, the first to receive a retail crypto license in Hong Kong, has a daily trading volume of roughly $4.93 million, which pales compared to its global counterparts. For context, Binance, the world’s largest crypto exchange, boasts a 24-hour trading volume of nearly $4.9 billion.
AVAX Price Continues Decline In September
Although the listing of AVAX on the Hashkey exchange poses a potential opportunity for increased adoption, it is worth noting that the cryptocurrency’s price has been struggling in recent months. And September wasn’t different for AVAX, as the token lost nearly 14% of its value in the past 30 days.
This continuous decline underscores Avalanche’s overall performance in 2023, which reflects the uncertain condition of the general market. The cryptocurrency has been on an estimated 58% plunge since notching a high of $21 in April.
According to data from CoinGecko, the Avalanche token changed hands for $8.91, with a 0.31% dip in the last 24 hours. As of this writing, the cryptocurrency has a daily trading volume of $117,251,082, reflecting an 18.4% rise in the past day. Avalanche ranks as the 24th-largest cryptocurrency, with a market cap of over $3.1 billion.
Hong Kong to Disclose All Crypto License Applicants After JPEX Probe
Securities and Futures Commission says decision was made in light of public demand
SEBA Bank secures in-principle nod for crypto services in Hong Kong
SEBA Hong Kong’s approval joins a flurry of regulated crypto activity that’s taken place over the past month.
What in the World Is Going on With Crypto Regulation?
Regulatory clarity has fueled crypto bull markets, demonstrated by Japan’s 2016 adoption of crypto as payment and OCC’s 2020 endorsement of crypto engagement. While global strides in clear crypto regulations are evident, particularly in Hong Kong, EU and UK, the US lags, emphasizing the need for enhanced regulatory certainty in the industry’s advancement.
Hong Kong establishes task force to advance Web3 development
The task force will advise on the “sustainable and responsible” development of Web3 in Hong Kong, according to the statement.
Hong Kong and UAE central banks collab on crypto rules, fintech development
The two central banks are aiming to align their financial service sectors and said both share “many complementary strengths.”