Hong Kong’s Securities and Futures Commission (SFC) has greenlit staking services for licensed digital asset exchanges.

On Monday, the regulator issued regulatory guidance for the new services, noting that staking comes with potential benefits, such as enhancing the security of blockchain protocols while enabling users to earn yields for their participation.

The SFC says that regulated entities should take precautions to manage investor risks.

“They should maintain measures to effectively prevent errors associated with the services, safeguard staked client virtual assets, and ensure proper disclosure of risks to which such staked assets may be subject.”

Julia Leung, the SFC’s chief executive officer, says allowing regulated crypto exchanges to offer staking services is a step forward for Hong Kong’s crypto industry.

“Broadening the suite of regulated services and products is crucial to sustain the healthy advancement of Hong Kong’s virtual asset ecosystem. But the broadening must be done in a regulated environment where the safety of client virtual assets continues to be front and center of the compliance framework for offering such service.”  

Last year, Hong Kong approved spot Bitcoin (BTC) and Ethereum (ETH) exchange-traded funds (ETFs).

In November, Hong Kong Exchanges and Clearing Limited (HKEX), the largest stock exchange in the special administrative region, announced the launch of its own “Virtual Asset Index Series.”

The index aims to provide a reliable benchmark for the pricing of BTC and ETH in the Asian time zone while solving the price differences between the different global exchanges.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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The post Hong Kong Regulator Greenlights Staking Services for Licensed Crypto Exchange Platforms appeared first on The Daily Hodl.

Hong Kong’s Securities and Futures Commission (SFC) has greenlit staking services for licensed digital asset exchanges.

On Monday, the regulator issued regulatory guidance for the new services, noting that staking comes with potential benefits, such as enhancing the security of blockchain protocols while enabling users to earn yields for their participation.

The SFC says that regulated entities should take precautions to manage investor risks.

“They should maintain measures to effectively prevent errors associated with the services, safeguard staked client virtual assets, and ensure proper disclosure of risks to which such staked assets may be subject.”

Julia Leung, the SFC’s chief executive officer, says allowing regulated crypto exchanges to offer staking services is a step forward for Hong Kong’s crypto industry.

“Broadening the suite of regulated services and products is crucial to sustain the healthy advancement of Hong Kong’s virtual asset ecosystem. But the broadening must be done in a regulated environment where the safety of client virtual assets continues to be front and center of the compliance framework for offering such service.”  

Last year, Hong Kong approved spot Bitcoin (BTC) and Ethereum (ETH) exchange-traded funds (ETFs).

In November, Hong Kong Exchanges and Clearing Limited (HKEX), the largest stock exchange in the special administrative region, announced the launch of its own “Virtual Asset Index Series.”

The index aims to provide a reliable benchmark for the pricing of BTC and ETH in the Asian time zone while solving the price differences between the different global exchanges.

Follow us on X, Facebook and Telegram

Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Surf The Daily Hodl Mix

 

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney

The post Hong Kong Regulator Greenlights Staking Services for Licensed Crypto Exchange Platforms appeared first on The Daily Hodl.