The SFC, Hong Kong's financial watchdog, is investigating whether Ether ETFs could provide staking possibilities to produce passive income for investors. This could set Hong Kong apart from the United States, where staking is considered a violation of securities laws.

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In contrast to the SEC's approach, the SFC's conversations with domestic crypto ETF issuers are ongoing, with no timetable for determination.

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The regulation under consideration comes after Hong Kong approved a Bitcoin ETF and pioneered the spot Ether ETF. The story surrounding staking has changed considerably. The U.S. SEC recently designated such services as securities. This decision forced Kraken to stop its staking business in the United States. Coinbase disagrees, arguing that staking is not a security.

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Amidst these discussions, Hong Kong is reaffirming its position as a welcoming place for crypto services in 2024.

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