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The city has been a haven of crypto innovation and growth<\/a>. On April 15, the regulator approved spot Bitcoin and Ether ETFs, following the decision by the US SEC for spot Bitcoin products in January. This comes as Hong Kong aims to compete with leading jurisdictions to become a haven for blockchain and financial innovations. The Hong Kong regulator has also granted licenses to virtual asset providers, including HashKey and OSL crypto exchanges.\u00a0<\/p>\n\n\n\n The desire for a self-regulatory environment still faces an acid test based on the experiences elsewhere. Lithuania, which has been a haven of fin-tech in the past decade, is considering<\/a> tightening the noose for multiple crypto companies. The decision emanates from claims of embezzlement and compliance failures despite the country granting licenses to over 580 crypto firms.<\/p>\n","post_title":"Hong Kong Proposes A Self-Regulate Model For The City's Crypto Sector\u00a0","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hong-kong-proposes-a-self-regulate-model-for-the-citys-crypto-sector","to_ping":"","pinged":"","post_modified":"2024-04-25 22:34:51","post_modified_gmt":"2024-04-25 12:34:51","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16539","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
