Key Takeaways In a significant development, a leading Hong Kong finance industry association has expressed concern that the city’s planned cryptocurrency licensing expansion could inadvertently force legitimate digital asset managers to halt operations if regulators implement new requirements without transition…
In an effort to come up with new ideas for a central bank digital currency, Hong Kong officials are thinking about releasing a CBDC in the form of a stablecoin supported by the government
Key Takeaways Hong Kong’s ambition to build a regulated stablecoin hub is now facing major headwinds. The Hong Kong Monetary Authority (HKMA) has circulated draft rules for consultation that would lower capital requirements for banks dealing with crypto, but mainland-linked…
Key Takeaways Hong Kong’s Securities and Futures Commission (SFC) has identified 33 additional fraudulent websites impersonating HashKey, a licensed crypto trading platform. This brings the total number of flagged impersonators to 45. The latest discovery is part of the SFC’s…
Key Takeaways Hong Kong lawmaker Wu Jie has called on the government to explore incorporating Bitcoin into its fiscal reserves, a move he believes could strengthen the region’s financial stability and global competitiveness. Speaking to local media, Wu emphasized the…
Key Takeaways Hong Kong is taking significant steps toward regulating stablecoins with the introduction of the Stablecoins Bill to its Legislative Council. The Stablecoins Bill sets out requirements for stablecoin issuers, outlines conditions for offering stablecoins, and implements marketing restrictions…
Key Takeaways ZA Bank, Hong Kong’s largest virtual bank, has launched a service allowing retail users to trade Bitcoin and Ethereum directly using fiat currency. The bank announced that Hong Kong residents with a ZA Bank account can open an…
Key Takeaways On October 28, the Hong Kong Financial Services and Treasury Bureau (FSTB) announced new guidelines designed to enhance the integration of artificial intelligence (AI) within the financial services sector. During a keynote address at Fintech Week, Christopher Hui,…
Key Takeaways The Hong Kong Securities and Futures Commission (SFC) is preparing to grant additional licenses to cryptocurrency businesses by the close of 2024, according to an October 7 report from local news outlet Hong Kong 01. This comes after…
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