City Hong Kong Financial News

Cryptocurrency exchange HKX has decided to withdraw its license application from the Hong Kong Securities and Futures Commission (SFC), becoming the latest exchange to do so.

The mastermind behind the collapse of the digital currency platform AAX has been arrested after evading authorities for 20 months.

Crypto market maker Wintermute Trading is currently engaged in discussions to conduct a new fundraising round.

Standard Chartered Bank (Hong Kong) is joined by Animoca Brands, Jingdong Coinlink Technology Hong Kong, RD InnoTech, and Hong Kong Telecommunications (HKT) in the Hong Kong Monetary Authority (HKMA) sandbox.HKMA says participants were chosen after demonstrating "genuine interest in developing a stablecoin issuance business in Hong Kong with a reasonable business plan".Standard Chartered and other members can now carry out testing on their operational plans, benefiting from two-way communication on the proposed regulatory requirements.Those regulatory requirements are coming into focus as HKMA and the Financial Services and the Treasury Bureau set out their consultation conclusions on the legislative proposal to implement a regulatory regime for fiat-referenced stablecoin issuers.Following a public consultation with more than 100 submissions, the pair now plan to put forward a legislative proposal "as soon as possible".Eddie Yue, chief executive, HKMA, says: “We believe that a well-regulated environment is conducive to the sustainable and responsible development of the stablecoin ecosystem in Hong Kong.”

On July 17, the Financial Services and Treasury Bureau (FSTB) and the Hong Kong Monetary Authority (HKMA) jointly announced their conclusions on the consultation process regarding the proposed regulatory framework for issuers of fiat-referenced stablecoins (FRS) in Hong Kong. These regulations will apply to stablecoin providers operating both domestically and internationally.

The new chair of Hong Kong’s leading media professional group says she lost her job at The Wall Street Journal after she refused her supervisor’s request to withdraw from the election for the leadership post

Crypto derivatives trading firm Wintermute Asia has added spot and CFD product access to oneZero network.

Hong Kong’s innovation minister says the government is testing its own ChatGPT-style tool for its employees, with plans to eventually make it available to the public, after OpenAI decided to take extra steps to block access from unsupported regions lik...

domestic passenger traffic in June at around 13.28 million, more than 6% from a year earlier, and nearly 10% above pre-covid levels; however, airline capacity deployment in June was up by just 7% on year and lower by 3% over May. Separately, one of the terminals of Delhi's international airport, the country’s largest and busiest, remains out of service.

The Hong Kong Securities and Futures Commission (SFC) has identified seven unauthorized cryptocurrency exchanges and placed them on its Alert list for conducting unauthorized activities in the region without obtaining the required licenses.

Hong Kong, Jul 05, 2024 -Asian markets were largely down on Friday, a day after Tokyo's indexes hit record highs as traders prepared for a key US jobs report while European exchanges edged up on calming electoral news from the United Kingdom and France. Japan's Nikkei 225 ended flat while the broader Topix index, which a day earlier surpassed its previous peak set in 1989, also shed some of its gains.

Hedge fund Segantii Capital Management is winding down. Bloomberg reported last month that it's already returned a third of its assets under management to investors and that it plans to return the rest by October. Staff are being let go. Some are already turning up elsewhere. 

Christopher Hui, the Secretary for Financial Services and the Treasury of Hong Kong stated on July 3 that Hong Kong regulators would closely monitor market developments following several global crypto exchanges’ withdrawal of license applications.

BEIJING — The market for initial public offerings in Hong Kong is set to improve significantly over the next five years, starting in the second half of this year, George Chan, global IPO leader at EY, told CNBC in an interview Wednesday.

Japanese tech conglomerate Sony Group has acquired crypto firm Amber Japan, officially debuting into the crypto exchange arena.

₹12 lakh and ₹20 crore can apply for FSSAI state licence. But for exports, spice manufacturers would need an FSSAI central licence. India cultivates a wide variety of spices, including black pepper, cardamom, cinnamon, cloves, turmeric, ginger, and more.

The Banque de France (BDF) and the Hong Kong Monetary Authority (HKMA) have signed a Memorandum of Understanding (MoU) focused on bilateral cooperation in the realms of wholesale central bank digital currency (CBDC) and tokenization.

Taiwan has urged its citizens to avoid travel to China and the semi-autonomous Chinese territories of Hong Kong and Macao following threats from Beijing to execute supporters of the self-governing island democracy's independence. Spokesperson and deputy head of the Mainland Affairs Council Liang Wen-chieh issued the advisory at a news conference Thursday. That came amid growing threats from China, which claims Taiwan as its own territory to be annexed by force if necessary.

Taiwanese singer Nine Chen, also known as Chen Lingjiu, has been implicated in a major fraud case linked to Hong Kong’s JPEX cryptocurrency exchange. The Bureau of Investigation accused Chen on June 26 of accepting 320,000 Tether coins (approximately NT$10 million) from a Hong Kong businessman to act as a spokesperson for JPEX in Taiwan.

It has been hard to make money in Chinese stocks. Unlike the U.S. market, even the country’s tech giants have disappointed investors in the past few years.

Bitcoin (BTC), the world’s oldest and most valuable cryptocurrency, managed to halt its overnight declines and regained some positive traction, reaching an intra-day high of $62,322.