The Chinese are still straightforward! No hesitation, just approve the Ethereum spot ETF and declare Ethereum is not a security! No matter whether you Americans declare ETH a security or not, it is not a security in Hong Kong anyway! Awesome!
Ethereum is not defined as a security in Hong Kong, but a non-securities virtual asset
On April 29, Wayne Huang, head of OSL ETF and custody business, answered the question of "whether it will affect Hong Kong's Ethereum spot ETF if the United States finally determines that Ethereum is a security" and said that the Hong Kong Securities and Futures Commission has its own set of procedures for whether a virtual asset is a security and whether it can be opened to retail traders, which is not affected by the United States.
The reason why Hong Kong can launch the world's first Ethereum spot ETF is that the United States has multiple departments speaking out at the same time or trying to regulate cryptocurrencies; Hong Kong has already decided who should regulate cryptocurrencies, that is, the Securities and Futures Commission, and the Securities and Futures Commission has given some very clear regulatory frameworks.
Hong Kong has already had a clear definition of Ethereum. Ethereum is not a security, but the first non-securities virtual asset to be included in Hong Kong's supervision together with Bitcoin, and it is one of the two targets that can be provided to retail investors for trading.