Hong Kong's crypto competitiveness challenge
The US SEC has approved applications for Ether ETFs, neutralising Hong Kong’s brief regulatory advantage, prompting the financial hub to seek new strategies as 11 exchange platforms await regulatory approval.
Kass
The US SEC has approved applications for Ether ETFs, neutralising Hong Kong’s brief regulatory advantage, prompting the financial hub to seek new strategies as 11 exchange platforms await regulatory approval.
June 11, 2024
The US Securities and Exchange Commission SEC approved rule changes on May 23 that paves the way for spot Ether ETFs, in a development which reflects expanding institutional acceptance and regulatory clarity for the world’s second-largest cryptocurrency after Bitcoin.
While the move is expected to lift crypto demand, the endorsement’s timing came as a surprise, according to industry and market experts. Ether was not initially included when the SEC approved cryptocurrency backed ETFs in January, clearing the road for Hong Kong’s Securities and Futures Commission SFC to take a brief regulatory lead after they approved both Bitcoin and Ether funds in May.
The...
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