Hong Kong’s Crypto Power Play: SFC Lifts Staking Ban and Forges UAE Alliance

By: crypto news|2025/05/07 01:45:01
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Key Takeaways:Hong Kong’s Securities and Futures Commission (SFC) engaged with UAE regulators to discuss virtual asset supervision, targeting cross-border regulatory cooperation.The SFC has authorized licensed virtual asset trading platforms to offer staking services, introducing stringent compliance measures to safeguard investor interests.These initiatives are part of Hong Kong’s broader strategy to position itself as a leading hub for regulated digital finance.Hong Kong’s Securities and Futures Commission (SFC) strengthened its international outreach with a visit to the United Arab Emirates last week, meeting with key financial regulators in Abu Dhabi and Dubai to exchange views on virtual asset supervision.According to a May 6 release, Executive Director Christopher Yip and fintech head Elizabeth Wong held talks with representatives from the Securities and Commodities Authority, the Financial Services Regulatory Authority, and the Dubai Financial Services Authority, among others. Hong Kong Advances Cross-Border CooperationThe meetings focused on regulatory models for virtual assets and shared challenges in overseeing companies in the sector.The visit is part of the SFC’s ASPIRe initiative, which outlines Hong Kong’s regulatory approach to digital assets and fintech. The delegation also met with local Web3 companies, where discussions emphasized the role of clear and consistent regulation in reducing systemic risk.“The SFC will continue to lead in the regulation of virtual assets,” said Yip. He cited international collaboration and policy development as central to Hong Kong’s strategy for financial innovation.The visit comes amid broader efforts by Hong Kong authorities to strengthen ties with global partners and position the city as a key jurisdiction for regulated digital finance. Hong Kong has secured its position as the world’s second-most crypto-friendly city, according to the latest Crypto Report 2025.#HongKong #Cryptohttps://t.co/fvPdL6KDX4— Cryptonews.com (@cryptonews) April 24, 2025SFC Lifts Staking BanThe SFC expanded its digital asset framework in April by authorizing licensed crypto platforms to offer staking services, marking a shift from previous restrictions imposed in mid-2023. The announcement was made during the Web3 Festival, where the regulator released a detailed circular outlining compliance standards for staking operations.The new rules require that virtual asset trading platforms maintain full control over staked client assets, barring the use of third-party custodians. Operators must disclose information such as lock-up periods, fees, and potential risks—including validator penalties, hacking, and protocol-level bugs. Platforms must also implement safeguards to manage these risks and ensure users understand how losses would be handled.Additionally, staking through third parties will be allowed only if platforms complete strict due diligence and monitoring. For SFC-authorized virtual asset funds, staking is restricted to partnerships with licensed platforms and approved custodians, and is subject to prior regulatory approval and exposure caps. The SFC’s recent actions suggest a deliberate effort to synchronize with jurisdictions actively shaping the next phase of global crypto governance. As more economies introduce formal frameworks for digital assets, regulatory compatibility may become a competitive advantage, particularly for cities positioning themselves as hubs for institutional-grade crypto activity.The post Hong Kong’s Crypto Power Play: SFC Lifts Staking Ban and Forges UAE Alliance appeared first on Cryptonews.

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WEEX P2P update: Country/region restrictions for ad posting

To improve ad security and matching accuracy, WEEX P2P now allows advertisers to restrict who can trade with their ads based on country or region. Advertisers can select preferred counterparty locations for a safer, smoother trading experience.

 

I. Overview

When publishing P2P ads, advertisers can now set the following:

Allow only counterparties from selected countries or regions to trade with your ads.

With this feature, you can:

Target specific user groups more precisely.Reduce cross-region trading risks.Improve order matching quality.

 

II. Applicable scenarios

The following are some common scenarios:

Restrict payment methods: Limit orders to users in your country using supported local banks or wallets.Risk control: Avoid trading with users from high-risk regions.Operational strategy: Tailor ads to specific markets.

 

III. How to get started

On the ad posting page, find "Trading requirements":

Select "Trade with users from selected countries or regions only".Then select the countries or regions to add to the allowlist.Use the search box to quickly find a country or region.Once your settings are complete, submit the ad to apply the restrictions.

 

When an advertiser enables the "Country/Region Restriction" feature, users who do not meet the criteria will be blocked when placing an order and will see the following prompt:

If you encounter this issue when placing an order as a regular user, try the following solutions.

Choose another ad: Select ads that do not restrict your country/region, or ads that allow users from your location.Show local ads only: Prioritize ads available in the same country as your identity verification.

 

IV. Benefits

Compared with ads without country/region restrictions, this feature provides the following improvements.

Aspect

Improvement

Trading security

Reduces abnormal orders and fraud risk

Conversion efficiency

Matches ads with more relevant users

Order completion rate

Reduces failures caused by incompatible payment methods

V. FAQ

Q1: Why are some users not able to place orders on my ad?
A1: Their country or region may not be included in your allowlist.

 

Q2: Can I select multiple countries or regions when setting the restriction?
A2: Yes, multiple selections are supported.

 

Q3: Can I edit my published ads?
A3: Yes. You can edit your ad in the "My Ads" list. Changes will take effect immediately after saving.

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