The Securities and Futures Commission, the Hong Kong securities regulator, plans to allow professional investors to exchange cryptographic derivatives, marking a significant expansion of virtual asset market offers, according to a report by China Daily.
Cryptographic derivatives are a significantly greater market than cash trading. Tokeninsight data show that the cryptographic derivative market has pushed a volume of 21 billions of dollars for the first quarter of the year, compared to 4.6 billions of dollars in punctual volume.
Industry stakeholders have long called for Hong Kong to obtain a trading license from cryptographic derivatives.
Addressing the South China Morning Post earlier this year, Jean-David Péquignot, commercial director of Deribit, one of the greatest exchanges of derivatives, said that the rules of cryptographic derivatives were missing legislation for Hong Kong.
The Hong Kong Legislative Council, its parliamentary organization, recently adopted a bill which would allow the Stablecoins license in the city.
