Chinese state-owned banks have emerged as an unexpected source of possible support for the influx of cryptocurrency businesses into Hong Kong after the city granted access to the beaten-down industry. Moreover, Chinese banks have been reaching out to crypto firms directly over the last few months, adding to indications that
Coinstreet and Somerley’s joint venture Signum Digital has revealed that their security token offering (STO) and subscription platform has been given an “approval-in-principle” by the Hong Kong Securities and Futures Commission (SFC). Security tokens are a new kind of digital asset based on blockchain technology. It reflects ownership of tangible
After successful editions in Dubai, UAE, and Lisbon, Portugal, WOW Summit Hong Kong will become a flagship full-scale Web3 event in the APAC region in 2023, along with General Partner OKX. The conference will host over 5000 attendees on March 29-30 at a world-class venue AsiaWorld-Expo. WOW Hong Kong is
The Securities and Futures Commission (SFC) of Hong Kong is seeking public input on its recently proposed licensing scheme for cryptocurrency exchanges. That is slated to go into effect in June 2023. On Feb. 20, the SFC announced the consultation process and detailed a new licensing framework for the industry.
According to reports, on June 1st, 2023, Hong Kong will officially make cryptocurrency purchasing, selling, and trading entirely legal for all of its residents. In Hong Kong, Interactive Brokers (IBKR) has started working with cryptocurrency exchange OSL Digital Securities. This is to provide cryptocurrency trading to professional investors. The objective
With a slew of new digital asset rules slated to go into effect this year. Regulators in Hong Kong will soon select which crypto tokens its people may invest in. This is the most recent crypto regulatory action taken by Hong Kong, a market with deep roots in the trade
On Monday, Paul Chan, Hong Kong’s Financial Secretary, reaffirmed the region’s dedication to developing into a major crypto powerhouse. To investigate the possibility of retail engagement in the sector. Hong Kong has also encouraged crypto firms and startups to provide services. As regulators are ready to give licenses to crypto
Hong Kong initiated its steps toward legalizing retail cryptocurrency trading by introducing the two ETFs (Exchange Traded Funds) on the 16th of December. Both ETFs track the US-listed cryptocurrency futures, BTC and Ether. BTC and Ether are the first two futures ETFs that are been listed in the Asian exchange
A new amendment to Hong Kong’s Anti-Money Laundering (AML) and terrorist financing system, which includes virtual asset service providers, was recently enacted by the legislative council. On June 1st, 2023, a new licensing system for virtual asset service providers will go into effect. As a result of recently passed legislation.
The Financial Secretary of Hong Kong has urged for a greater emphasis on transparency and adequate supervision when dealing with virtual assets, just days after Binance CEO Changpeng “CZ” Zhao warned of the advent of more regulatory scrutiny in the wake of the FTX crash. Paul Chan, Hong Kong’s Financial
