Hong Kong’s Incoming Spot Bitcoin ETFs Could Be ‘Big Deal.’ Here’s What Analysts Say
Massive demand for a China-listed gold ETF sent its premium soaring to 30% earlier this week.
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Massive demand for a China-listed gold ETF sent its premium soaring to 30% earlier this week.
Last year, regulators in Japan and Germany also alerted consumers the exchange was unlicensed.
Hong Kong’s markets regulator identified Bybit as a suspicious cryptocurrency exchange and placed several of its products on its suspicious investment products list.
Phase 2 of the e-HKD pilot will be supported by the recently launched regulatory sandbox for testing wholesale CBDCs and tokenization, the Hong Kong Monetary Authority said.
The regulator invited applicants with a “genuine interest in developing a stablecoin issuance business” to join the sandbox.
The announcement comes as Hong Kong works to brand itself as Asia’s digital assets trading hub.
Project Ensemble will “seek to explore innovative financial market infrastructure (FMI) that will facilitate seamless interbank settlement of tokenised money,” HKMA said.
Hong Kong’s securities regulators says HBGL Hong Kong Limited withdrew its application for a license on February 23.
The Financial Services and the Treasury Bureau will consult on over-the-counter venues like shops and online platforms following the outlets’ role in crypto fraud cases.
Venture Smart Financial Holdings is also aiming for a spot-bitcoin ETF and is involved in the discussions about the stablecoin sandbox.