Hong Kong's securities regulator has proposed an expansion of its workforce to enhance its efforts to establish the region as a leading cryptocurrency hub. In its 2025-2026 financial year budget plan, the Securities and Futures Commission (SFC) has outlined a plan to add 15 new positions. Of these, eight will ...
Hong Kong's Securities and Futures Commission (SFC) is preparing to issue new cryptocurrency trading licenses following a comprehensive review process of applicants. Chinese media outlet SINA Finance reported that Ye Zhiheng, Executive Director of the Intermediary Department at the securities regulatory agency, indicated that license approvals could be announced before ...
Hong Kong lawmaker Wu Jie has called on the region’s government to explore the possibility of including Bitcoin in its fiscal reserves, according to a local media report. The report revealed that Wu suggested the Hong Kong Special Administrative Region (SAR) consider adding cryptocurrencies to its fiscal reserves and utilize ...
Singapore appears to have edged ahead of Hong Kong in the race to become the leading crypto hub in Asia. Both cities are vying for dominance by introducing specialized regulatory regimes, tokenization initiatives, and innovation-driven sandboxes. However, Singapore's proactive licensing strategy and robust fintech initiatives may have tipped the scales ...
Hong Kong is intensifying its efforts to establish itself as a global cryptocurrency hub. It is currently the 5th-largest crypto market in Asia. The city’s administration has already set up many initiatives to achieve this goal. For instance, by the end of 2024, they plan to significantly expand its licensing ...
Hong Kong's Securities and Futures Commission (SFC) has issued licenses to four more virtual asset trading platforms (VATPs) as part of its drive to establish the city as a leading global crypto hub. The newly licensed exchanges—HKbitEX, Accumulus, DFX Labs, and EX.IO—received approval under the SFC's new "swift licensing process." ...
Hong Kong's newly proposed stablecoin bill passed its first reading in the city’s Legislative Council today, December 18, 2024. This move brings the city closer to establishing a robust regulatory framework for fiat-backed stablecoin issuers. During the presentation of the bill, Christopher Hui, Hong Kong's Secretary for Financial Services and ...
Hong Kong-based crypto exchange OSL Digital Securities (OSL) has announced the addition of Toncoin (TON), the native token of The Open Network, to its over-the-counter (OTC) trading services. Professional investors can now trade TON against USD, USDT, and HKD through the newly introduced trading pairs: TON/USD, TON/USDT, and TON/HKD. In ...
Hong Kong is intensifying discussions on updating its cryptocurrency regulations to stay current with the fast-changing global industry. A proposal presented during the Legislative Council meeting on December 11 highlights the urgency for the city to adapt to the rising volume of crypto investments worldwide. In his written statement, Acting ...
The Hong Kong Monetary Authority (HKMA) has unveiled a new subsidy initiative, the Digital Bond Grant Scheme (DBGS), to encourage the adoption of tokenized bonds in the city’s capital markets. According to a statement published by the financial regulator, the scheme will offer grants covering up to 50% of eligible ...
