Hong Kong working to allow perpetual contracts, chief regulator says

Julia Leung, CEO of Hong Kong's Securities and Futures Commission (SFC), stated that the regulator will publish a high-level framework enabling trading platforms to offer perpetual contracts. These novel products will initially be restricted to institutional investors, focusing heavily on risk management to ensure fairness to customers. Furthermore, the SFC plans to allow brokers to offer financing to clients with strong credit profiles, backed by collateral that includes both securities and virtual assets, specifically starting with Bitcoin and Ether due to their volatility. Platforms engaging in market-making will also be required to establish strong conflict-of-interest rules and maintain independent market-making units. These initiatives are part of the SFC's broader 2025 roadmap to develop the local crypto market by allowing regulated firms to offer more services.

(Source：CoinDesk)