Hong Kong’s Securities and Futures Commission (SFC) has identified various shortcomings among crypto firms seeking full licenses. These findings emerged as the SFC intensified its scrutiny of virtual asset trading platforms under its new regulatory framework, which came into effect in 2024. The SFC recently revealed that some crypto entities
Hong Kong lawmaker Johnny Ng Kit-chong has proposed creating a legal framework to regulate decentralized autonomous organizations (DAOs) to bolster Hong Kong’s stability in the Web3 investment landscape. Ng believes that such regulation would attract significant overseas talent and capital, reinforcing the city’s position as a global leader in digital
Sinohope, a Hong Kong-listed cryptocurrency firm previously Known as Huobi Technology, has announced its intention to acquire Avenir Asset Holding for $30.46 million. The deal was confirmed through an official statement on the Hong Kong Stock Exchange (HKEX). This acquisition marks a significant expansion for Sinohope in the cryptocurrency space.
Chinese capital Hong Kong announced the launch of a new ETF product on Monday. After its recent launch of spot Bitcoin and Ethereum ETFs, Hong Kong recently announced the launch of an inverse Bitcoin ETF. The capital, in the past few months, has been focusing on developing its cryptocurrency sector
The number of crypto exchanges that have withdrawn their licensing applications from the Hong Kong Securities and Futures Commission (SFC) is increasing, and HKX is the latest addition to that list. Existing customers were advised to withdraw their crypto assets by the HKX management team on July 18, who announced
The future of Web3 and the growth of the virtual assets sector is being discussed thematically, and members of the Hong Kong Legislative Council, such as Johnny NG Kit-Chong, are currently seeking industry views in order to make legislative suggestions. The Legislative Council has reportedly formed a subcommittee. This is
Hong Kong has drawn market attention in the past few months with its progress toward digital asset adoption. Currently, the impending agenda in the nation is the introduction of a licensing system for crypto-fiat exchanges. The CFO of OSL Group, a leading crypto exchange in the Chinese capital, discussed the
A lawmaker from Hong Kong has voiced his displeasure with the “excessively stringent” licensing requirements for cryptocurrency exchanges, claiming that these regulations have discouraged prominent international exchanges from setting up offices in Hong Kong and have lowered investor confidence. In an opinion post published on Saturday in the Hong Kong
Several of the biggest international exchanges have withdrawn their applications for licenses from Hong Kong’s Securities and Futures Commission (SFC), seemingly undermining Hong Kong’s hopes of becoming the most sought-after location for Web3 and cryptocurrency. Exchanges, including OKX, Huobi, and Binance, have reportedly chosen to withdraw their applications in the
The Securities & Futures Commission of Hong Kong released the list of crypto exchanges that applied for trading licenses in the country. In the list, the Securities Regulator specified eleven exchanges that are deemed to be approved for licenses in the coming days. The list included leading exchanges Bullish, Crypto.com
