Mars Finance reported on September 19 that an executive of blockchain infrastructure provider Blockdaemon said that Hong Kong regulators may approve the staking function of the much-anticipated spot Ethereum ETF this year as the region continues to push to become a cryptocurrency center.
Andrew Vranjes, head of international and vice president at Blockdaemon, revealed that his team is working closely with spot cryptocurrency ETF issuers in Hong Kong to discuss the development of viable staking solutions with local regulators.
Vranjes said the team has made some progress and regulators may approve staking functionality “within a specific structure and boundaries.”
Vranjes added: “We’ll see how the market develops. There may be a model where maybe accredited investors and above have this option first. Maybe it will develop that way and be phased in over time.”
