Hong Kong plans to accelerate the development of cryptocurrency market infrastructure in 2024

2024-01-29 16:48:22

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ChainCatcher news, according to Tencent News, China's asset management company Huatai Fund has applied to the Hong Kong Securities and Futures Commission to launch a Bitcoin exchange-traded fund (ETF). Although the details regarding Huatai Fund's Bitcoin ETF are still unclear, it has been confirmed that it will be launched after the Lunar New Year holiday on February 10. Additionally, Hong Kong regulators may approve multiple Bitcoin ETF applications to provide fair market access.

As of now, several regional financial institutions have also shown interest in launching spot Bitcoin ETF products in Hong Kong. Meanwhile, multiple companies in Hong Kong are discussing potential stablecoin pilot projects with the Hong Kong Monetary Authority. These pilots will be evaluated ahead of the upcoming stablecoin regulations in Hong Kong.

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