Bittime - Hong Kong's Securities and Futures Commission (SFC) approved a scheme for purchasing Bitcoin and Ethereum directly through securities accounts. This scheme is believed to encourage the development of virtual asset trading in Hong Kong.
Buy Bitcoin and Ethereum via Securities Account Easier
Previously, investors in Hong Kong who wanted to buy crypto assets had to open a separate account on a crypto exchange. Now, with SFC approval, at least three fund management companies have teamed up with licensed exchanges to offer virtual asset fund products. Through this product, investors can buy Bitcoin and Ethereum directly using their securities accounts.
Check Today's Crypto Market:
A Safer and More Engaging Purchase Process
Experts assess that this new scheme will increase the attractiveness of crypto asset investment. Diao Jiajun, Executive Director and Head of Regulatory Affairs at OSL, said that previously investors may have been concerned about security or were unfamiliar with the new platform.
Investing through a securities account that is well known and frequently used will certainly be more attractive. Investors will feel more confident because the product is managed by a well-known investment manager who ensures its safety and linkage to the index.
Positive Impact for Crypto Markets
Industry players believe that the SFC's move will have a positive impact on the crypto asset market. Li Sicong, Blockchain Technology Consultant, said that the launch of spot Bitcoin ETFs in the United States a few months ago has given life to the Bitcoin market.
Now, Hong Kong is ahead of the United States in terms of Ethereum spot trading. The ease of purchasing crypto assets through legal channels in Hong Kong will certainly attract investors.
Also Read How to Buy Crypto:
Positive Impact for the Hong Kong Economy
Meanwhile, member of the Legislative Council, Wu Jiezhuang, sees this new scheme as a boost to Hong Kong's economy. Many companies and families want to participate in the crypto asset market, but have difficulty opening a crypto wallet or account on an exchange. This scheme allows them to participate easily.
The recent Web3 Carnival event, for example, attracted many high-purchasing tourists to Hong Kong. This scheme has the potential to bring in more investors. However, Wu Jiezhuang emphasized the importance of investor education so that people understand the risks associated with investing in crypto assets.
Check Crypto Prices Today:
How to Buy Crypto with Bittime
You can buy and sell crypto assets in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
To be able to buy crypto assets on Bittime , make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. Learn Complete Guide How to Buy Crypto on Bittime .
Monitor price chart movements of Bitcoin (BTC) , Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
Also Read:
Get to Know Hong Kong Cryptocurrency Regulations
Hong Kong Has the Opportunity to Become a New Crypto Center Through Local Stablecoins
Mask Network Donates MASK Tokens to Hong Kong Crypto-Fintech Lab
DISCLAIMER : This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
Comments
0 comments
Please sign in to leave a comment.