HashKey Capital’s Bold Move: Crypto for the Elite in Hong Kong! 💰🚀

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In a most fortuitous turn of events, HashKey Capital has secured the coveted approval from the esteemed SFC of Hong Kong, allowing it to extend its hand to the professional investors of the realm, offering them the tantalizing allure of crypto investment strategies. Ah, the sweet scent of opportunity wafts through the air! 🌬️

With this newfound blessing, HashKey Capital is now empowered to manage discretionary accounts for cryptocurrencies, all under the watchful eye of the existing type 9 license. A revelation, indeed! The firm, in a rather grandiose blog announcement on a Wednesday—because who doesn’t love a midweek surprise?—shared this delightful news.

This approval is akin to a golden ticket, permitting HashKey Capital to orchestrate investment products that range from the ever-elusive spot crypto to the intricate derivatives, and even the clandestine over-the-counter trades for those fortunate enough to be deemed wealthy clients. Vivien Wong, a Partner at Liquid Funds, mused that investors have historically tiptoed around the virtual asset space, wary of the lurking risks. How quaint! 🧐

“With our discretionary account management services, we provide clients with the confidence to explore this sector.”

— Vivien Wong

With this approval, HashKey Capital can now navigate the waters of several pre-approved crypto exchanges, bestowing upon clients a delightful flexibility. The announcement, dripping with optimism, assures that HashKey will handle everything from asset allocation to the meticulous monitoring and rebalancing, allowing clients to focus on their lofty financial aspirations. “Professional investors do not wish to be tardy and miss the boat on key new opportunities in crypto. Yet, they also desire to remain in the good graces of regulators,” Wong sagely noted. How noble! 🥳

Meanwhile, Hong Kong, in its infinite wisdom, is doubling down on its ambition to ascend as a global crypto hub. The securities regulator, in a move that can only be described as ambitious, is proposing an expansion of its crypto oversight team. As reported by crypto.news, the budget plan for the 2025–26 financial year seeks to add 15 new hires, with eight of those brave souls dedicated solely to the regulation of virtual assets. A noble quest indeed!

The budget proposal, unveiled at a Legislative Council meeting on the 3rd of February, projects the SFC’s recurrent expenditure to soar to HK$2.59 billion ($332.4 million) for the upcoming fiscal year, marking a 7.2% increase from the previous year’s forecast. Ah, the numbers dance like leaves in the autumn breeze! 🍂

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2025-02-05 11:13