Is Hong Kong's Recent Crypto Regulation Overhaul a Response to the JPEX Scandal?
Adekunle Joshua
Hong Kong's central bank and securities regulator are tightening crypto regulations in response to a major scandal that impacted over 2,000 victims
The new guidelines restrict certain virtual currency offerings exclusively to professional investors, citing complexity and risks
Overseas virtual asset ETFs are considered complex products, suitable only for professional investors, says the Securities and Futures Commission and the Hong Kong Monetary Authority
Intermediaries must now verify clients' understanding and financial stability for virtual asset investments to ensure responsible trading
SFC-approved exchanges offer regulated VA-related derivative products, providing safer options for everyday investors with clearer pricing and market transparency