Hong Kong Securities Watchdog Issues Rules on Funds Investing in Crypto
Hong Kong's Securities and Futures Commission (SFC) has issued regulations for fund managers investing in "virtual assets."
OSL Digital Securities was the first crypto exchange to apply for the SFC's opt-in license last November.
Tencent received the green light from the Hong Kong Securities and Futures Commission to build a blockchain-based virtual bank.
Crypto hubs like Hong Kong, Singapore and Japan have a clearer regulatory picture going forward and are progressing faster than the U.S. and Europe.
The Securities and Futures Commission will license crypto trading platforms like traditional brokers if they offer security tokens.
Only one financial fund has passed Hong Kong's framework for digital asset investments.