Bitcoin, Ethereum ETFs in Hong Kong Could Lead to 'More Progressive' Policies in China: OSL

Originally appeared on Decrypt

At the start of the week, spot Bitcoin and Ethereum ETFs were conditionally approved in Hong Kong. Alongside this news, digital assets platform OSL announced it will be a “sub-custodian partner” for both the China Asset Management, also known as ChinaAMC (HK), and Harvest Global Investment ETFs.

Looking forward, OSL's CEO believes that these ETFs could lead to a wave of “more progressive” regulation in China and potentially cause a ripple effect across the region.

“[It] is likely to set a precedent for other financial markets in Asia,” Patrick Pan, Chairman of the Board and CEO of OSL, told Decrypt. “For China, this development in Hong Kong solidifies Hong Kong’s place as a unique financial center for innovations and may influence future regulatory considerations and market openness towards crypto, potentially leading to more progressive policies aligned with global standards.”

China has a long and rocky history with cryptocurrencies—effectively banning crypto multiple times.