Cryptocurrency exchange HashKey has received approval from Hong Kong regulators to offer staking services, potentially broadening the institutional appeal of proof-of-stake investments such as the spot Ether exchange-traded funds (ETFs).
HashKey was granted approval on April 10 after the Hong Kong Securities and Futures Commission (SFC) provided regulatory guidance on staking services to Licensed Virtual Asset Trading Platforms (VATPs) and authorized funds, the company disclosed on social media.
HashKey said it had become “one of the first” regulated Hong Kong exchanges to offer staking services.
Source: HashKey Group
The approval was granted after the China Securities Regulatory Commission (CSRC) recognized the potential benefits of crypto staking services, the SFC said.
CSRC “is aware of the potential benefits of staking in enhancing the security of blockchain networks and allowing investors to earn returns from virtual assets in a regulated market environment,” the SFC said, according to a translated version of the