Hong Kong's securities watchdog to regulate crypto funds

posted 14 days ago
Hong Kong's Securities and Futures Commission says it will bring crypto funds under its securities regulations to improve investor protection. The financial regulator said that investment funds based in Hong Kong will have to be licensed and registered with the agency. Ashley Alder, the SFC's chief executive officer, said in a news release: "The measures... so that investors' interests would be protected either at the fund management level, at the distribution level, or both"

Jehan Chu, managing director of the Hong Kong-based crypto investment firm Kenetic Capital said "We are happy to see the SFC taking concrete steps to provide clarity and guidance around digital asset management, distribution of fund interests and trading platforms, which shows that the SFC is willing to support the growth of the crypto and blockchain eco-system in a safe and sustainable manner."
Tags: bitcoin, news