Hong Kong's financial authorities have officially authorized crypto firms to offer staking services to their clients, provided they follow guidelines designed to protect users from potential risks.
A Securities and Futures Commission notice dated April 7 states that crypto firms with a virtual asset trading platform license in the region can offer staking services.
However, they must ensure customer protection and fully disclose the risks involved in virtual asset staking.
Before companies can introduce staking services in their Hong Kong offerings, they must obtain formal approval from the SFC.