Hong Kong is contemplating permitting staking for
exchange-traded funds (ETFs) investing immediately in Ether. The Securities and
Futures Fee (SFC) of Hong Kong is participating town’s cryptocurrency ETF
issuers about offering staking companies by way of licensed platforms, The Enterprise
Occasions reported.
This potential regulatory change may open a brand new
supply of passive earnings for traders, positioning Hong Kong forward of the US,
the place such providing is restricted. Staking gives traders a method to earn
passive earnings by locking tokens on the Ethereum community to assist validate
transactions, at present yielding about 4% yearly in extra cash.
If the SFC approves the staking yields, it may
considerably improve the attractiveness of Hong Kong’s spot-crypto ETFs, which
have skilled reasonable demand since their launch in April. This transfer may
give Hong Kong a aggressive edge over the US, which not too long ago accepted spot
ether ETFs purposes by Nasdaq, Cboe, and NYSE.
Hong Kong is actively positioning itself as a digital
asset hub, competing with cities like Singapore and Dubai. This follows the
implementation of a devoted regulatory regime final yr aimed toward rejuvenating
town’s standing as a number one monetary middle after a interval of political
unrest.
Past ETFs, Hong Kong is reviewing a number of
purposes to extend the variety of licensed digital asset exchanges.
Moreover, it’s creating a framework for stablecoins, that are sometimes
pegged to fiat currencies and backed by reserves of money and bonds.
Count on ongoing updates as this story evolves.
Hong Kong is contemplating permitting staking for
exchange-traded funds (ETFs) investing immediately in Ether. The Securities and
Futures Fee (SFC) of Hong Kong is participating town’s cryptocurrency ETF
issuers about offering staking companies by way of licensed platforms, The Enterprise
Occasions reported.
This potential regulatory change may open a brand new
supply of passive earnings for traders, positioning Hong Kong forward of the US,
the place such providing is restricted. Staking gives traders a method to earn
passive earnings by locking tokens on the Ethereum community to assist validate
transactions, at present yielding about 4% yearly in extra cash.
If the SFC approves the staking yields, it may
considerably improve the attractiveness of Hong Kong’s spot-crypto ETFs, which
have skilled reasonable demand since their launch in April. This transfer may
give Hong Kong a aggressive edge over the US, which not too long ago accepted spot
ether ETFs purposes by Nasdaq, Cboe, and NYSE.
Hong Kong is actively positioning itself as a digital
asset hub, competing with cities like Singapore and Dubai. This follows the
implementation of a devoted regulatory regime final yr aimed toward rejuvenating
town’s standing as a number one monetary middle after a interval of political
unrest.
Past ETFs, Hong Kong is reviewing a number of
purposes to extend the variety of licensed digital asset exchanges.
Moreover, it’s creating a framework for stablecoins, that are sometimes
pegged to fiat currencies and backed by reserves of money and bonds.
Count on ongoing updates as this story evolves.
