Hong Kong already has a clear definition of Ethereum and it is not a security, said OSL Digital Securities head Wayne Huang.
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 (ETH) 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: