City Hong Kong Financial News

25.06 / 18:19

Adoption Crypto Trading SFC Crypto Trading Crucial to Virtual Asset Ecosystem, Says Hong Kong SFC Chief

Cryptocurrency trading is an important part of the virtual asset ecosystem, according to Julia Leung Fung-yee, CEO of the Securities and Futures Commission (SFC) of Hong Kong.

24.06 / 17:01

business regulation SFC Crypto trading is an important part of the virtual asset ecosystem, says Hong Kong's SFC chief

The CEO of Hong Kong's Securities and Futures Commission (SFC), Julia Leung Fung-yee, addressed Hong Kong's embrace of Web3 regulation following the collapse of crypto exchange FTX last November, noting that crypto trading is an important part of the virtual asset ecosystem.

21.06 / 19:11

regulation Web3 Hong Kong Should Follow Singapore, Japan in Crypto: Government Study

A government study conducted by the Research Office at Hong Kong’s Legislative Council has suggested that the city should take cues from countries like Japan and Singapore in its efforts to develop and embrace Web3 technologies and crypto.

20.06 / 14:49

Adoption Alibaba Names Crypto-Friendly Joseph Tsai as New Chairman

Alibaba has announced that crypto-friendly Joseph Tsai, currently Executive Vice Chairman, will replace eight-year veteran chief Daniel Zhang as the company's new Chairman.

19.06 / 21:25

Binance SEC Europe security European Union lawmakers Lawmakers vs. the SEC vs. Binance: Law Decoded, June 12–19

Once again, the United States Securities and Exchange Commission (SEC) became the week’s headliner. Its intention to freeze the entirety of Binance.US’s assets got a reality check from U.S. district court Judge Amy Berman Jackson, who advised the regulator and the crypto exchange to negotiate a deal bilaterally.

19.06 / 10:57

defi regulation Web3 Funding Hong Kong says Cyberport attracted 150 Web3 firms in a year

In the past year, more than 150 Web3 firms have set up operations in Hong Kong’s Cyberport — a digital hub set up by the country’s government to promote innovation — Financial Secretary Paul Chan Mo-po said in a statement.

16.06 / 20:21

UPS Citi Binance regulation coinbase Gemini Is the US's Crypto Crackdown a Blessing in Disguise for Other Nations?

The regulatory crackdown on crypto in the US could prove to be just what is needed for the industry to thrive elsewhere, a recent Wall Street Journal article has indicated.

16.06 / 06:11

Adoption Binance regulation SEC coinbase Hong Kong govt pressures banking giants to accept crypto clients: Report

The Hong Kong Monetary Authority (HKMA), which serves as the region's central bank and regulator, has reportedly put pressure on major banks including HSBC and Standard Chartered to accept crypto exchanges as clients.

16.06 / 05:08

Adoption HSBC Bank of China Standard HSBC, Standard Chartered, and Bank of China Pressured by Hong Kong to Embrace Crypto Exchanges – Next Crypto Hub?

Hong Kong’s banking regulator has reportedly exerted pressure on banks including HSBC, Standard Chartered, and Bank of China to engage with crypto clients.

16.06 / 03:27

HSBC Standard Chartered Ft HSBC, StanChart face pressure from Hong Kong to take on crypto clients - FT

HSBC and Standard Chartered are among lenders facing pressure from Hong Kong's banking regulator to take on crypto exchanges as clients, the Financial Times reported on Thursday, citing three people with knowledge of the matter. The UK-based lenders and the Bank of China were questioned by the Hong Kong Monetary Authority (HKMA) last month on why crypto exchanges were not being accepted as clients, according to the report. Standard Chartered is in regular dialogue with regulators on different subjects, it said in an emailed statement to Reuters, declining to comment further on the FT report. HSBC and the HKMA did not immediately respond to a Reuters request for comments.

14.06 / 04:10

UBS Bank of China Bank of China Uses Ethereum Blockchain for $28 Million Digital Structured Notes – Crypto Adoption on the Rise?

Bank of China's investment arm BOCI has utilized the Ethereum blockchain network to issue $28 million worth of digital structured notes.

13.06 / 22:23

Blockchain Binance Progressive SEC Platform coinbase Decentraland Animoca Brands to Focus on Markets Outside U.S. after SEC Labels Sand Cryptocurrency an Unregistered Security

According to a report by South China Morning Post (SCMP), Hong Kong-based blockchain giant, Animoca Brands, has announced its plans to shift its focus to markets outside the U.S. This strategic move comes in the wake of the U.S. Securities and Exchange Commission's (SEC) decision to label the firm’s Sand cryptocurrency token as an unregistered security, amid recent lawsuits against major crypto exchanges Binance and Coinbase Global.

13.06 / 11:49

Stablecoin regulation SEC AIM 2024 Hong Kong and the US aim for stablecoin regulations by 2024

The Hong Kong Monetary Authority has completed a public consultation on stablecoin regulations with an aim to introduce clear regulatory guidelines around the stablecoin market by the end of 2024.

12.06 / 21:05

Provident Binance Digital SEC Platform coinbase Hong Kong Legislator Invites Coinbase Amidst SEC Scrutiny

The US SEC has been actively examining the operations of digital asset exchanges, raising concerns about investor protection and market integrity.

12.06 / 19:27

business Blockchain Tokens Bank of China issues $28M in digital structured notes on Ethereum blockchain

On June 12, Bank of China's investment bank subsidiary BOCI announced the issuance of 200 million Chinese Yuan ($28 million) worth of digital structured notes minted on the Ethereum blockchain. The move makes the BOCI the first Chinese financial institution to issue a tokenized security in Hong Kong. Investment banking company UBS helped originate the product for placement to its client in the Asia-Pacific region. Ying Wang, the deputy CEO of BOCI, commented:

11.06 / 07:25

Blockchain regulation coinbase Hong Kong legislator invites Coinbase to the region amid SEC scrutiny

With its progressive stance on cryptocurrencies, Hong Kong's legislator invites Coinbase and other crypto exchanges to establish operations in the region, fostering a favorable environment for the industry's growth.

10.06 / 11:17

Blockchain UPS Ethereum Waves Pool GameStop Hong Kong Meme Coin $KONG Pumps 1,000%, Trends Above Pepe on DEXTools - Best Crypto to Buy Now?

Meme coins are currently gaining a lot of attention and breaking daily trading records with high volumes.

09.06 / 15:39

Sport Google security Fraud European Union Google Cloud retail CBDC Customers Today in Crypto: Google Cloud Offers Certain Customers Up To $1M for Cryptomining Attacks, Countdown Until MiCA Enters into Effect Officially Starts, Hong Kong to Lay Foundations to Implement Retail CBDC

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________

08.06 / 08:47

COST Target Standard Standard Chartered cutting roles across London, Hong Kong, Singapore

Around a hundred jobs are set to go at Standard Chartered as part of a wider plan to trim some $1bn in costs, including a few London-based managing director roles.

08.06 / 08:19

Citi Cooper Platform Strategy HSBC Financial UAE Central Bank and Hong Kong Monetary Authority Bolster Financial Ties

The Central Bank of the United Arab Emirates (CBUAE) and the Hong Kong Monetary Authority (HKMA) convened a bilateral meeting on May 29, intending to amplify cooperation in the financial services arena between the two regions.

06.06 / 21:06

stocks Derivatives Trade Crypto Exchange Will Hong Kong launches retail-friendly rules for crypto exchanges

The Chinese finance hub is racing regulators around the world to lay down ground rules for crypto after high-profile failures like trading platform FTX, which led the United States to crack down on a sector worth more than $1 trillion. China has had a strict crypto ban since 2021, but in Hong Kong — which operates on a separate legal framework — trading has been allowed though unregulated, meaning individual investors resort to unlicensed platforms. The regulatory regime launched Thursday means that after a one-year transition period, all crypto exchanges in Hong Kong must be licensed, and will be able to take on retail clients.

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