HK Financial News

The cryptocurrency community is excited about the Hong Kong government reportedly weighing the launch of a spot cryptocurrency exchange-traded fund (ETF) amid the ongoing regulatory pushback against such products in the United States.

Hong Kong’s police force has raised the alarm after 11 Hong Kong-based Binance customers were targeted in a wave of phishing scams sent through text messages.

Hong Kong crypto exchange Hashkey, the first to receive a retail crypto license in the Special Administrative Region (SAR), will open Avalanche (AVAX) trading on its platform. However, there is a catch.

Hong Kong's financial regulator, the Securities and Futures Commission (SFC) has vowed to step up its efforts to combat unregulated cryptocurrency trading platforms in its jurisdiction

Project Sela leaned on the Bank of Israel's cyber security expertise and ongoing work on the digital shekel and the Hong Kong Monetary Authority's (HKMA) learnings from Project Aurum and e-Hong Kong Dollar. In Sela, the rCBDC ledger is operated by the central bank without compromising end user privacy as personal identifiers are obfuscated.

Vedanta Resources will be meeting offshore bondholders in Hong Kong and Singapore next week to assess if they would be willing to roll over $3.2 billion of bonds — due in 2024 and 2025 — under different terms, said people aware of the development. The company is also considering an option to redeem a small portion of the bonds ahead of scheduled payment, partly to lure bondholders to agree to roll over the bonds, the people cited above said.Standard Chartered Bank and JP Morgan have organised the meeting with bondholders between September 11 and 15, they said. Anil Agarwal-promoted Vedanta Resources, the parent company of India-listed Vedanta Ltd, has $1 billion 13.875% bonds due in January 2024, $1 billion 6.125% bonds due August 2024 and $1.2 billion 8.95% bonds in March 2025.

Hong Kong’s Financial Secretary, Paul Chan Mo-po has reiterated his support for blockchain technology, calling it the next wave of "breakthrough growth" in the digital technology industry in a recent blog post.

(Reuters) — China Evergrande New Energy Vehicle Group said on Thursday that it had applied to the Hong Kong Stock Exchange to resume trading in the company's shares on Friday.

China Information Technology Development Limited (CITD) (HKEX: 8178), a leading technology company specializing in AI and cloud technologies, has announced its plan to issue HK$100 million worth of Bonds using distributed ledger technology (DLT). The proposed issuance aims to revolutionize the bond market by leveraging blockchain and smart contract technologies.

RERA) has permitted Hong Kong-based Risland Holdings to resume construction and sales of its first Indian project, after an about nine-month hiatus caused by insufficient documentation. The building sanction plan and the RERA registration for the project at Chattarpur in South Delhi had lapsed, and the Municipal Corporation of Delhi (MCD) as well as the RERA had declined to extend the validity of the documents due to a land ownership dispute. «Since, sanctioned building plans have been revalidated by MCD, applicants can now proceed with the work accordingly.

According to a June 27 report by local news outlet Foresight News, Web3 firms in Hong Kong are spending anywhere between 20 million to 200 million Hong Kong dollars ($2.55 million to $25.5 million) for the acquisition of a Virtual Asset Licensing Regime (VASP) licenses. Sources explained:

Crypto exchange Huobi is moving forward with its Hong Kong expansion plans. 

The Hong Kong Police Force has launched CyberDefender, a new metaverse platform aimed at educating the public about the potential dangers associated with Web3 and the metaverse. 

The central bank committed to exploring further the potential for a retail central bank digital currency (CBDC) in September, after a positive response to consultations scoping out the technical and policy perspectives. The first round of pilots will take deep dives into potential use cases in six categories, including full-fledged payments, programmable payments, offline payments, tokenised deposits, settlement of Web3 transactions and settlement of tokenised assets.

In line with the Chinese city’s plans to establish itself as a leading crypto hub in Asia, Hong Kong’s authorities have unveiled plans to set aside HK$50 million (US$6.4 million) in the territory’s 2023-2024 budget with the aim to boost the capacities of its Web3 sector.

The Government of the Hong Kong Special Administrative Region of the People’s Republic of China (HKSAR Government) announced on Feb 16 that it had issued HK$800 million in tokenized green bonds, under the Government's Green Bond Program (GBP). The bonds were underwritten by four banks and priced at a yield of 4.05%.

A start-up accelerator co-founded by Hong Kong legislative council member Jonny Ng Kit-Chong wants to attract 1,000 Web3 businesses to set up shop in the city-state over the next three years.

Hong Kong and Singapore’s wealthy elite appear to be looking at digital assets with fervor, after a new report from KPMG suggesting over 90% of family offices and high-net-worth individuals (HNWI) are interested in investing in the digital assets space or have already done so. 

Germany has overtaken the US to become the world's top-ranked crypto economy in the third quarter of 2022, a study conducted by Coincub suggests.

A Hong Kong-based crypto hardware wallet maker has raised around $20 million in a Series A funding round.

Hong Kong-based startup, Bloom announced its collaboration with cryptocurrency exchange Okcoin to offer token rebates and introduce a gamified retail experience to its clients.