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Hong Kong’s securities regulator, the Securities and Futures Commission (SFC), may allow retail investors to buy spot crypto ETFs. Bloomberg, citing SFC CEO Julia Leung, writes that the regulator welcomes proposals using innovative technologies that improve efficiency and quality of customer service. “We’re happy to give it a try as long as new risks are addressed. Our approach is consistent regardless of the asset.” Julia Leung, SFC CEO Although both the US and Hong Kong allow futures-based exchange-traded funds (ETFs), their adoption has been relatively modest compared to the broader fund industry. You might also like: Hong Kong Monetary Authority concludes first CBDC trial Hong Kong currently has ETF listings such as Samsung Bitcoin Futures Active, CSOP Bitcoin Futures, and CSOP Ether Futures, with a total combined asset value of approximately $65 million. In September, Hong Kong took first place in the ranking of countries and territories most prepared to im...

Li Lin’s company, X-Spot Co. Limited, has taken legal action against Huobi Global, filing a trademark infringement lawsuit in the High Court of Hong Kong. The lawsuit alleges that Huobi Global resumed using the “Huobi” trademark without X-Spot’s permission, despite X-Spot maintaining exclusive rights to the trademark. Exclusive rights In a June 21 release, Li Wei, the younger brother of Li Lin, the founder of Huobi Global, had his account blocked by Huobi Global advisor Justin Sun. The action was taken after Sun accused Wei of dumping Huobi Token (HT), causing significant price volatility. Sun reassured HT holders that the tokens sold by Wei would be removed from circulation to stabilize the token’s value.  Huobi founder Li Lin formally sued Huobi Global in Hong Kong for using its Chinese trademark 火币 that was not allowed to continue to be used in the original acquisition contract. Huobi was acquired by Justin Sun for over $1 billion last year. ...

HashKey becomes the first licensed retail cryptocurrency exchange to launch in Hong Kong and anticipates major growth of the Web3 industry in the special administrative region. Hong Kong retail crypto currency traders now have access to a locally based crypto currency exchange after HashKey took its retail trading services live to users in China’s special administrative region on Aug. 28. The company was previously permitted to serve professional and institutional investors, before being granted Type 1 and Type 7 licenses by the Hong Kong Securities and Futures Commission (SFC) on Aug. 3. This paved the way to becoming the first licensed retail exchange in Hong Kong.  Figures from Hong Kong's treasury, banking, accounting and Web3 ecosystem marked the launch of retail trading at the Maritime Museum Central.  As Cointelegraph previously reported, the exchange now offers Bitcoin (BTC) and Ethereum (ETH) trading pairs with the Hong Kong Dollar (BTC/USD and ETH/USD) and plans to l...

The value of popular NFTs has sharply declined over the past year, with drops of up to 95%. In this week’s newsletter, read about some of the most popular nonfungible token (NFT) collections and top metaverse properties taking massive price hits in 2023. Check out how the Hong Kong Police Force launched its own metaverse platform, and how Reddit’s digital collectibles have managed to onboard almost 10 million users to the crypto and NFT space. In other news, infamous crypto hater Peter Schiff has launched his own NFT collection on Bitcoin Ordinals.  Popular NFT collections take massive price hit in 2023 The value of popular NFTs from 2022 has plummeted over the past year. NFTs like Doodles, Invisible Friends, Moonbirds and Goblintown have seen their Ether (ETH) value drop by as much as 95%, while even blue-chip NFT collections have experienced an average decrease of over 40%. Despite these losses, NFT investors remain undeterred. The number of blue-chip NFT holders has increased ...

Also Read: Coinbase Launches “Stand With Crypto” NFT After Going Against SEC advertisement The World’s first licensed Crypto Casino. Begin your journey with 20% cashback up to 10,000 USDT. Signup Ad As per reports, Hong Kong Securities and Futures Commission Chief Executive Officer Julia Leung in an event stated that licensing guidelines for digital asset trading platforms in May. (THIS IS A DEVELOPING STORY) Trending Stories SOL Price Prediction: Bullish Pattern Sets Solana Price for 22% Rise; Enter Today? 24/7 Cryptocurrency News XRP Price Prediction: XRP Price Coiling Up Before a Massive Move; Enter Now? 24/7 Cryptocurrency News ETH Price Prediction: New Recovery Cycle in Ethereum Price Hints a 10% Rally Ahead 24/7 Cryptocurrency News PEPE Price Prediction: This Chart Patt...