Summary
- Hong Kong said it will allow global capital access to virtual asset exchanges.
- The move will abolish the existing ring-fenced trading model and enable connection to global order books.
- Hong Kong's SFC said it plans to implement gradual regulatory easing when investor protection is assured.
Hong Kong has decided to allow access by global capital to virtual asset (cryptocurrency) exchanges. The move is seen as a measure to boost trading activity.
According to Bloomberg on the 3rd (Korean time), Julia Leung, chairperson of the Hong Kong Securities and Futures Commission (SFC), said at the Hong Kong FinTech Week forum, "SFC-licensed virtual asset trading platforms will be allowed to connect with global order books." The related regulatory guidelines are scheduled to be announced that day.
The measure would abolish the existing 'ring-fenced' model that only allowed trading within Hong Kong and ease rules to the same level as those for traditional asset markets. Leung said, "We plan to ease regulations gradually when we are confident that investor protection is ensured."
![[Today's Key Economic & Crypto Calendar] Richmond Fed Manufacturing Index, and More](https://media.bloomingbit.io/static/news/brief_en.webp?w=250)
![[Market] Bitcoin regains the $88,000 level…major altcoins also rise in tandem](https://media.bloomingbit.io/PROD/news/ff9fc4f4-b4e3-47bd-9817-eecc30e02710.webp?w=250)
![[New York Stock Market Briefing] Rises across the board on big-tech earnings optimism despite shutdown jitters](https://media.bloomingbit.io/PROD/news/d3d17861-e6f9-4833-bde1-ffbf699704d0.webp?w=250)
