Close Menu
ApeWatcher News
  • Home
  • Advertise
  • Headlines
  • Crypto
    • News
    • Bitcoin
    • Ethereum
    • Altcoin
    • View All
  • DeFi
  • NFT
  • Metaverse
  • Guides
  • Rates
  • Videos
  • Listing Platform
  • BSC
  • ETH
  • Listing Platform
  • BSC
  • ETH
What's Hot

MSTR Launches $2.1 Billion ATM Program for Perpetual Strife Preferred Stock

May 22, 2025

Bitcoin’s New All-Time High Pushes Market Value Past Amazon

May 22, 2025

Bitcoin tops Amazon market cap on ‘Pizza Day’ as price sets new highs

May 22, 2025
X (Twitter) Telegram
  • Listing Platform
  • Home
  • BSC
  • ETH
Advertise
X (Twitter) Telegram
ApeWatcher News
  • Headlines
  • Crypto
    1. News
    2. Bitcoin
    3. Ethereum
    4. Altcoin
    5. View All

    MSTR Launches $2.1 Billion ATM Program for Perpetual Strife Preferred Stock

    May 22, 2025

    Bitcoin’s New All-Time High Pushes Market Value Past Amazon

    May 22, 2025

    Bitcoin tops Amazon market cap on ‘Pizza Day’ as price sets new highs

    May 22, 2025

    UK court partially dismisses Bitcoin SV investor’s lawsuit against Binance

    May 22, 2025

    Bitcoin tops Amazon market cap on ‘Pizza Day’ as price sets new highs

    May 22, 2025

    Crypto awareness in Singapore hits record 94%, but ownership falls

    May 22, 2025

    Bitcoin ‘looks exhausted’ as next bear market yields $69K target

    May 22, 2025

    Billionaire Vivek Ramaswamy Announces Plans To Acquire 75,000 Bitcoin Under New Corporate Entity

    May 22, 2025

    Whale buys back ETH holdings after missing $2.6M gain

    May 22, 2025

    Ethereum holders back in profit as ETH price enters ‘crucial area’ for $3K breakout

    May 21, 2025

    Arthur Hayes Gives Portfolio Update, Says ‘Nasty Correction’ Could Be Approaching This Year for Crypto

    May 21, 2025

    Ethereum price gained 90% the last time this indicator turned bullish

    May 20, 2025

    UK court partially dismisses Bitcoin SV investor’s lawsuit against Binance

    May 22, 2025

    Can ChatGPT Trade Crypto for You? Here’s What You Need to Know

    May 22, 2025

    Crypto Trader Books 346x Profit on Solana-Based Altcoin That’s Exploded 71,164% in a Month: Lookonchain

    May 22, 2025

    Billionaire Justin Sun To Attend Crypto Dinner With President, Says He Is ‘Top Holder’ of Trump’s Memecoin

    May 21, 2025

    MSTR Launches $2.1 Billion ATM Program for Perpetual Strife Preferred Stock

    May 22, 2025

    Bitcoin’s New All-Time High Pushes Market Value Past Amazon

    May 22, 2025

    Bitcoin tops Amazon market cap on ‘Pizza Day’ as price sets new highs

    May 22, 2025

    UK court partially dismisses Bitcoin SV investor’s lawsuit against Binance

    May 22, 2025
  • DeFi
  • NFT
  • Metaverse
  • Guides
  • Videos

    BlackRock & Chainlink: Predicting the Future of Digital Assets!

    May 22, 2025

    Bitcoin Hits New ALL TIME HIGH: Here's WHY (Japan Economy Imploding)

    May 22, 2025

    HURRY: Bitcoin's Move From $110K To $125K Will Be QUICK!!!

    May 21, 2025

    Bitcoin NEW All-Time High! Price Prediction & Bear Trap Alert!

    May 21, 2025

    The Next BIG Crypto Memecoin Just Discovered → Like Finding Dogecoin, Pepe, & Brett EARLY!?

    May 21, 2025
ApeWatcher News
Home » Hong Kong introduces crypto staking rules, reaffirms Web3 commitment
Hong Kong introduces crypto staking rules, reaffirms Web3 commitment
News

Hong Kong introduces crypto staking rules, reaffirms Web3 commitment

Coin TelegraphBy Coin TelegraphApril 7, 20250 ViewsNo Comments
Share
Facebook Twitter LinkedIn Pinterest Email

Hong Kong’s Securities and Futures Commission (SFC) has introduced new guidelines for crypto exchanges offering staking services.

In an April 7 announcement, the SFC announced new guidelines for crypto exchanges offering staking services and locally authorized funds exposed to digital assets involved in staking. The announcement follows recent remarks from Christina Choi, the SFC’s executive director of investment products, who said during a speech at the Hong Kong Web3 Festival:

“The SFC is committed to supporting Hong Kong’s Web3 journey.”

In its announcement, the regulator said it “recognizes the potential benefits of staking in enhancing the security of blockchain networks and allowing investors to earn yields.” Consequently, the latest guidance allows crypto exchanges to provide staking service offerings.

Related: Hong Kong investment firm’s shares surge 93% after buying just 1 Bitcoin

New rules for staking services

The new rules were communicated by the regulator in its latest circular sent to crypto exchanges under its jurisdiction. The SFC requires crypto exchanges to obtain written approval before offering staking services, retain control over staked virtual assets and not delegate custody to third parties.

Cryptocurrency exchanges engaged in staking must disclose all relevant risks and details concerning fees, minimum lock-up periods, unstaking processes, outage processes and custodial arrangements to their customers. Lastly, the providers must report on their staking activities to the SFC.

A similar circular was sent to SFC-regulated crypto fund operators, with the new rules being relevant to funds with more than 10% of their net asset value invested directly or indirectly in digital assets. Funds can only acquire virtual assets that are also directly available to the local public and rely on SFC-authorized platforms. Leveraged exposure is prohibited.

Funds can engage in staking if it is consistent with the fund’s objectives, while providing clear disclosure and robust controls. An investor notice and possibly shareholder approval may be required if staking implementation leads to material strategy or risk profile changes.

Hong Kong bets on Web3

During her recent speech, SFC’s Choi recognized that the Web3 space is still evolving and that “its full benefits will unfold in time, likely with twists and turns.” She cited the speculative industry of non-fungible tokens (NFTs) as a cautionary tale that justifies caution in the current regulatory approach:

“Therefore, rather than chasing every new spark, we believe in a pragmatic approach — strengthening the fundamentals and fostering a supportive ecosystem where Web3 can thrive in a sustainable manner.“

Related: Hong Kong remains an ‘open and vibrant market’ for crypto, says financial secretary

The official’s comments follow recent reports that cryptocurrency exchange Bybit announced the shutdown of its NFT marketplace as the market is running out of steam. The decision follows a similar decision by major NFT marketplace X2Y2 announced in late March.

The non-fungible token market is seeing a significant downturn. Daily NFT trading volume was over $18 million 364 days ago before Bybit’s announcements and stood at $5.34 million when the decision to shut down the platform was made public — a 70% fall.

When arguing why Web3 companies should choose Hong Kong as their headquarters, Choi pointed out that Hong Kong ranks third in the Global Financial Centres Index. Furthermore, local regulators have set clear guidelines for crypto industry firms, and Hong Kong provides easy access to Asian markets.

Global Financial Centres Index top 10. Source: LongFinance

In her closing statements, Choi said, “We stand today at the crossroads where traditional finance and the digital economy are converging to drive promising outcomes for our financial markets.” She added:

“The zero-to-one breakthrough has been made, and its future success would very much depend on how we nurture this convergence, that is, how we go from one to 100.“

Her statements echo Hong Kong’s financial technology sector, which has seen 250% growth since 2022. The SFC recently introduced a new roadmap to position the city as a global cryptocurrency hub.

The “ASPIRe” roadmap hopes to future-proof the local virtual asset ecosystem. It involves 12 initiatives spread across five broad categories, which include providing market access, optimizing compliance and frameworks and improving blockchain efficiency.

Magazine: Korea to lift corporate crypto ban, beware crypto mining HDs: Asia Express

Read the full article here

Follow us on Google News to get the latest Updates

 
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

MSTR Launches $2.1 Billion ATM Program for Perpetual Strife Preferred Stock

May 22, 2025

Bitcoin’s New All-Time High Pushes Market Value Past Amazon

May 22, 2025

Bitcoin tops Amazon market cap on ‘Pizza Day’ as price sets new highs

May 22, 2025

UK court partially dismisses Bitcoin SV investor’s lawsuit against Binance

May 22, 2025

Whale buys back ETH holdings after missing $2.6M gain

May 22, 2025

Over $200M in potential losses

May 22, 2025
Add A Comment
Leave A Reply Cancel Reply

Top Articles

MSTR Launches $2.1 Billion ATM Program for Perpetual Strife Preferred Stock

May 22, 2025

Bitcoin’s New All-Time High Pushes Market Value Past Amazon

May 22, 2025

Bitcoin tops Amazon market cap on ‘Pizza Day’ as price sets new highs

May 22, 2025
ApeWatcher News
X (Twitter) Telegram
  • Privacy Policy
  • Sources
  • Terms and Conditions
  • Contact
  • Advertise
© 2025 Ape Watcher News

Type above and press Enter to search. Press Esc to cancel.