Exchange-traded fund issuers in Hong Kong are not concerned about the crypto crackdown in the United States which could result in regulators classifying Ether as a security.

Speaking at a press conference on April 29 on the eve of the launch of spot crypto ETFs in Hong Kong, the head of digital asset management firm China Asset Management, Zhu Haokang, and the head of custody firm OSL Digital Securities, Wayne Huang, answered questions on the new institutional investment products.

One of the more notable responses was to a question regarding the world’s first spot Ether ETF and whether the United States declaring it a security will have any impact in Hong Kong. Huang responded:

“Probably not, because whether the United States defines Ethereum as a security does not affect the independent decision-making of the Hong Kong Securities Regulatory Commission.” [translation]

He added that the Hong Kong Securities Regulatory Commission has its own set of procedures for determining whether particular crypto assets are securities and whether retail investors can trade them.

“It will not be affected by different opinions between various departments in the United States, or ultimately their own unilateral definition,” he continued.

Get to know Godleak

Godleak crypto signal is a  service which provide profitable crypto and forex signals. Godleak tried to provide you signals of best crypto channels in the world.

It means that you don’t need to buy individual crypto signal vip channels that have expensive prices. We bought all for you and provide you the signals with bot on telegram without even a second of delay.

Godleak crypto leak service have multiple advantages in comparision with other services:

•  Providing signal of +160 best crypto vip channels in the world
• Using high tech bot to forward signals
• Without even a second of delay
• Joining in +160 separated channels on telegram
• 1 month, 3 months , 6 months and yearly plans
• Also we have trial to test our services before you pay for anything

For joining Godleak and get more information about us only need to follow godleak bot on telegram and can have access to our free vip channels. click on link bellow and press start button to see all features

Join for Free

☟☟☟☟☟

https://t.me/Godleakbot

Also you can check the list of available vip signal channels in the bot. by pressing Channels button.

He also emphasized why Hong Kong will be the first in the world to launch an Ethereum spot ETF, rather than the United States.

“The regulation of cryptocurrency in the United States has multiple departments speaking out at the same time, or trying to regulate it.”

“Hong Kong has already had a clear definition of Ethereum,” he said before stating that “Ethereum is not a security.” It is one of the two assets including Bitcoin that can be provided to retail investors, he said.

The U.S. Securities and Exchange Commission is currently investigating the Ethereum Foundation in a probe to determine whether it believes the asset is a security.

In addition to China Asset Management, Bosera Asset Management, and Harvest Global Investments have launched crypto ETFs through their Hong Kong subsidiaries on the Hong Kong Stock Exchange on April 30 under the tickers CAM, BOS, and HGI.

OSL Digital Securities was chosen as the first virtual asset trading and sub-custodian partner by China Asset Management (Hong Kong) on April 15.

China Asset Management is a state-owned bank established in 1998 and headquartered in Beijing. It is also one of China’s biggest fund families.