• News
    • Bitcoin
    • Altcoins
  • NFT
  • Metaverse
  • Analysis
  • Regulation
  • Learn
  • Market Cap
What's Hot

Meta Unveils Next-Gen AI Tools and Digital Companions for the Metaverse

2023-09-28

What Is Toncoin (TON)? Everything You Need To Know

2023-09-28

Valentino Rossi Steps into The Sandbox with ValeVerse

2023-09-27
Facebook Twitter Instagram
  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
Facebook TikTok Instagram YouTube
CryptoNewsMetaverse
  • News
    • Bitcoin
    • Altcoins
  • NFT

    U.S. IRS Considers Taxing NFTs Like Other Collectibles

    2023-03-21

    Meta Shuts Down NFT Project to Focus on FinTech and Content

    2023-03-14

    Solana’s Solend V2 Release, Is SOL Price $50 Next?

    2023-03-06

    Amazon NFT Marketplace To Reportedly Launch Next Month

    2023-03-06

    Blur Coin Under Fire As Allegations Of Wash Trading Emerge

    2023-03-01
  • Metaverse

    Meta Unveils Next-Gen AI Tools and Digital Companions for the Metaverse

    2023-09-28

    Valentino Rossi Steps into The Sandbox with ValeVerse

    2023-09-27

    Opportunities for Artists and Creators at Decentraland Music Festival 2023

    2023-09-26

    Hitachi Leverages Metaverse and VR for Next-Generation Workforce Training

    2023-09-25

    Upland and KABOOM! Unite to Address Playspace Inequity

    2023-09-22
  • Analysis

    DOJ Officially Seizes Over $456,000,000 Worth of Robinhood Shares Tied to FTX Founder Sam Bankman-Fried

    2023-01-08

    Mark Cuban Makes Prediction on Next Crypto ‘Scandal,’ Warns of Potential Implosion if Exposed: Report

    2023-01-08

    Binance Listings Cause Crypto Assets To Spike an Average of 41%: New Research

    2023-01-08

    Bitcoin Whales Unloaded BTC As Market Reversed and Parked Their Profits in This Crypto Asset Class: Santiment

    2023-01-07

    Crypto Analyst Predicts Breakout for AI-Focused Altcoin, Updates Outlook on Ethereum and Lido DAO

    2023-01-07
  • Regulation

    Ripple files motion to block SEC appeal attempt

    2023-09-04

    JP Morgan believes SEC will be forced to approve ETFs after losing case against Grayscale

    2023-09-03

    Ripple Files Motion To Oppose SEC Appeal Over Landmark XRP Ruling

    2023-09-03

    U.S. SEC Punts on Bitcoin (BTC) Spot Exchange-Traded Fund Approvals, Delays Decisions Until October

    2023-09-02

    Navigating the significance of legal opinions in the crypto sphere

    2023-09-02
  • Learn

    What Is Toncoin (TON)? Everything You Need To Know

    2023-09-28

    What is NBA Top Shot? A Beginner’s Guide

    2023-09-22

    What Are Bridges in Crypto? Cross-Chain Bridges, Explained – Cryptocurrency News & Trading Tips – Crypto Blog by Changelly

    2023-09-21

    SingularityNET (AGIX) Price Prediction 2023 2024 2025

    2023-09-18

    What Are Altcoins? Best Altcoins to Buy  – Cryptocurrency News & Trading Tips – Crypto Blog by Changelly

    2023-09-08
  • Market Cap
CryptoNewsMetaverse
Home»Regulation»Hong Kong watchdog aims to restrict retail traders to liquid products
Regulation

Hong Kong watchdog aims to restrict retail traders to liquid products

2023-01-12No Comments2 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email

The new licensing program, scheduled to take off in June, will restrict retail traders in Hong Kong to “highly-liquid” digital assets, according to the new CEO of Hong Kong’s Securities and Futures Commission (SFC), Julia Leung Fung-yee.

At the recent Asia Financial Forum, Leung pointed out that many digital asset platforms have thousands of products. However, the SFC executive highlighted that they are not planning to “allow retail investors to trade in all of them.” Instead, the SFC will set up criteria that allow retail traders to only trade major virtual assets.

Cast your vote now!

While the SFC executive did not provide more details as to which assets will be available for trading, Leung mentioned that these will be assets with “deep liquidity.” When asked about Bitcoin (BTC) or Ether (ETH), the SFC executive did not respond, but reiterated that “highly liquid” assets will be allowed. 

Despite the limitations that will be placed on retail investors, Leung highlighted that they are moving to position Hong Kong as a virtual asset hub. “We aim to have a proper regulatory framework to safeguard the interest of all investors and to enhance Hong Kong as a virtual asset hub,” she said.

The CEO also noted that proper regulation could prevent issues, such as the collapse of the FTX exchange, from happening in Hong Kong.

In a recent event, Hong Kong’s financial secretary Paul Chan said that many crypto firms are requesting to set up shop in Hong Kong. The official highlighted that the government is doing its best to provide appropriate supervision to the crypto space and realize the potential of Web3 technology.

Related: Hong Kong brokers line up for SFC approval ahead of new virtual asset trading legislation

Digital assets have recently been a hot topic in the special administrative region. On Jan. 5, a Hong Kong official floated the idea of turning the Hong Kong digital dollar into a stablecoin. Wu Jiezhuang, a legislative council member, believes this could address risks linked to digital assets in Web3.

Source link

Aims Hong Kong Liquid products restrict Retail traders watchdog
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Shandong Province Aims for 10% of Global Metaverse Market by 2025

2023-09-11

Ripple files motion to block SEC appeal attempt

2023-09-04

JP Morgan believes SEC will be forced to approve ETFs after losing case against Grayscale

2023-09-03

Ripple Files Motion To Oppose SEC Appeal Over Landmark XRP Ruling

2023-09-03
Add A Comment

Leave A Reply Cancel Reply

Top Posts

IOG Says Cardano Vasil Hard Fork Is Almost Here, But What Is ADA Doing?

2022-09-03

Crypto Quant Data Hints An Imminent Bitcoin Price Rally, Will It Be Strong?

2022-10-13

Memecoins eye major revamps in an effort to return to their former glory

2022-04-22

Subscribe to Updates

Get the latest news and Update from Cryptonewsmetaverse.com about Crypto, Metaverse and NFT.

Our mission is to develop a community of people who try to make financially sound decisions. The website strives to educate individuals in making wise choices about Cryptocurrencies, NFT, Metaverse and more.

We're social. Connect with us:

Facebook Instagram YouTube TikTok
Top Insights

Meta Unveils Next-Gen AI Tools and Digital Companions for the Metaverse

2023-09-28

What Is Toncoin (TON)? Everything You Need To Know

2023-09-28

Valentino Rossi Steps into The Sandbox with ValeVerse

2023-09-27
Get Informed

Subscribe to Updates

Get the latest news and Update from Cryptonewsmetaverse.com about Crypto, Metaverse and NFT.

  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
© 2023 Cryptonewsmetaverse.com. Designed by ProdigitalX.

Type above and press Enter to search. Press Esc to cancel.

  • bitcoinBitcoin(BTC)$26,869.00-0.98%
  • ethereumEthereum(ETH)$1,667.500.78%
  • USDEXUSDEX(USDEX)$1.07-0.53%
  • tetherTether(USDT)$1.000.06%
  • binancecoinBNB(BNB)$215.43-0.02%
  • rippleXRP(XRP)$0.534.22%
  • usd-coinUSDC(USDC)$1.000.27%
  • Lido Staked EtherLido Staked Ether(STETH)$1,666.660.62%
  • cardanoCardano(ADA)$0.2528501.36%
  • dogecoinDogecoin(DOGE)$0.0617830.54%