Hong Kong Set to Allow Crypto Derivatives Trading for Professional Investors
Hong Kong's Securities and Futures Commission is preparing to permit professional investors to trade crypto derivatives, significantly expanding the territory's VIRTUAL asset market. This move comes as the global crypto derivatives market surged to $21 trillion in Q1 2024, dwarfing spot trading volumes of $4.6 trillion.
Industry leaders have long advocated for this regulatory clarity. Deribit's chief commercial officer Jean-David Péquignot previously noted crypto derivatives rules were Hong Kong's missing legislative piece. The development follows Hong Kong's recent stablecoin licensing framework approval by its legislative council.