The Securities and Futures Fee, Hong Kong’s securities regulator, is planning to permit skilled traders to commerce crypto derivatives, marking a big growth of the territory’s digital asset market choices, in keeping with a report from China Every day.
Crypto derivatives are a significantly bigger market than spot buying and selling. Information from TokenInsight reveals that the crypto derivatives market pushed by way of $21 trillion in quantity for the primary quarter of the yr, in comparison with $4.6 trillion in spot quantity.
Stakeholders within the trade have lengthy known as for Hong Kong to license crypto derivatives buying and selling.
Chatting with the South China Morning Publish earlier this yr, Jean-David Péquignot, chief business officer of Deribit, one of many largest derivatives exchanges, stated crypto derivatives guidelines had been a lacking piece of laws for Hong Kong.
Hong Kong’s legislative council, its parliamentary physique, not too long ago handed a invoice that will permit for the licensing of stablecoins within the metropolis.
