A start-up accelerator co-founded by Hong Kong legislative council member Jonny Ng Kit-Chong wants to attract 1,000 Web3 businesses to set up shop in the city-state over the next three years. Ng Kit-Chong is a member of the legislative council for the election committee constituency and has been in office since January this year. The engineer and politician has his finger in a lot of pots as he has declared owning shares in roughly 40 different companies. (Cointelegraph)

Gate Group said it discussed Hong Kong’s recent policy statement on virtual assets in a closed-door meeting with the Financial Services and Treasury Bureau (FSTB), the Securities and Futures Commission (SFC) and Invest Hong Kong, according to a company statement.

Hong Kong’s first crypto-based exchange-traded funds (ETFs) have attracted over $73 million ahead of their debut on the region’s stock exchange. The launch of the two ETFs tracking cryptocurrency futures listed in the United States comes despite the industry’s current troubles.

HONG KONG, Dec 16 (Reuters) - Hong Kong's first bitcoin and ether futures exchange traded funds (ETFs) ended their first trading day higher on Friday, reflecting investors' interest despite the broader crypto market meltdown.

Julia Leung, the next chief executive of Hong Kong’s Securities and Futures Commission (SFC) due to start her three-year term on Jan. 1, called for stricter crypto regulation when speaking at the city’s Fintech Week last month.

CSOP Asset Management, an investment advisor based in Hong Kong, will launch Bitcoin and Ether futures exchange-traded funds (ETS) on the Hong Kong Stock Exchange on Friday. However, ahead of their debut, the ETFs have raised a combined $73.6 million, with the Bitcoin futures ETF alone accounting for $53.9 million, Reuters reports.

CSOP Asset Management has received approval to list its Bitcoin and Ethereum exchange-traded funds (ETFs) on the Hong Kong Stock Exchange by Dec. 16.

The Hong Kong Securities and Futures Commission (SFC) is drafting regulatory requirements for the local licensed crypto exchanges, in light of the FTX debacle, according to a report on Monday by Hong Kong public broadcaster RTHK.

Hong Kong’s legislative council has <a href="https://www.hkma.gov.hk/media/eng/doc/key-information/guidelines-and-circular/2022/20221207e1.pdf" target="_blank">added</a> a new amendment to the Anti-Money Laundering and Counter-Terrorist Financing (Amendment) Bill 2022 to accommodate the cryptocurrency industry.

Hong Kong's Legislative Council passed an Anti-Money Laundering and Counter-Terrorist Financing amendment primarily introducing a licensing regime for virtual asset service providers (VASPs).