Hong Kong’s central bank, the Hong Kong Monetary Authority (HKMA), issued a warning on November 15 regarding the misuse of the term "bank" by unlicensed crypto companies operating in the region. The HKMA cautioned that such misrepresentations could potentially violate local banking laws. The regulator raised concerns about overseas-based crypto ...
Circle is setting its sights on Hong Kong as a strategic entry point to the Asian market. According to a local report, the USDC issuer plans to expand its workforce and operational footprint in the region and intends to apply for a license once Hong Kong's new stablecoin regulations are ...
Victory Securities, a Hong Kong-based crypto broker, has announced plans to launch structured products for professional investors by the end of the year. In a blog post published on November 4, 2024, the broker revealed that it had obtained regulatory approval from the Securities and Futures Commission, making it the ...
Hong Kong’s digital bank, ZA Bank, has started a sandbox trial for its new virtual asset trading service for select retail customers. In an October 29 press release, the bank highlighted the growing demand for virtual assets in Hong Kong, referencing a recent market study that found 75% of local ...
Hong Kong Exchanges and Clearing Ltd. (HKEX) on October 28, announced plans to launch new crypto price indexes, aiming to provide a reliable benchmark for the rapidly expanding digital asset market. The "HKEX Virtual Asset Index Series," set to launch on November 15, will provide a single reference price for ...
Hong Kong plans to expand its current tax concessions on privately offered funds and family offices to include cryptocurrency investments. During his speech at Hong Kong Fintech Week on October 28, Christopher Hui, Secretary for Financial Services and the Treasury, announced that by the end of the year, the government ...
Two major financial regulators in Hong Kong have jointly announced their intention to implement reporting requirements established by the European Securities and Markets Authority (ESMA) for crypto over-the-counter (OTC) derivatives. On September 26, the Hong Kong Monetary Authority (HKMA) and the Securities and Futures Commission (SFC) revealed a plan to ...
Blockchain infrastructure provider Blockdaemon Inc. is eyeing a potential initial public offering (IPO) in 2026, according to CEO Konstantin Richter. Speaking with Bloomberg, Richter noted that the decision hinges on market conditions in the coming year. If favourable, the company could move forward with plans to go public, coinciding with ...
The Hong Kong government is preparing to issue its first policy statement on the use of artificial intelligence (AI) in the financial sector. The region's Financial Services and Treasury Bureau (FSTB) is currently drafting a framework focused on the ethical application of AI within financial markets, according to a new ...
Indian authorities are investigating a crypto trading app called "Datameer," accused of defrauding over 700 individuals of INR 10 million (approximately $119,000), according to a local report. Sadar’s superintendent of Police and Cyber Wing head, Pankaj Kumar Rasgania, reportedly stated that the app launched in April 2024 and operated for ...
