Hong Kong crypto exchanges face shutdown deadline

Hong Kong

Hong Kong’s Securities and Futures Commission (SFC) has warned cryptocurrency exchanges operating without proper licensing in the region. As of February 29, exchanges that failed to file for licenses must initiate winding up procedures, with a final deadline of May 31, 2024. Regulatory crackdown and compliance measures The SFC’s directive signals a tightening of regulatory […]

Hong Kong pledges $383M for cyberport AI development boost

Hong Kong

The Hong Kong government has announced a substantial investment of 3 billion Hong Kong dollars ($383 million) into its Cyberport business park. This funding is part of a three-year artificial intelligence (AI) subsidy scheme unveiled by Paul Chan, Hong Kong’s Financial Secretary, during the 2024 budget announcement on February 28. Aimed at harnessing the capabilities […]

Hong Kong sets global benchmark in virtual asset regulation

Hong Kong

Hong Kong’s Financial Secretary, Mr. Chan Mo-po, has announced the launch of a ‘regulatory sandbox’ for stablecoin issuers as part of the 2024 budget. This initiative marks a pivotal step in the city’s approach to cryptocurrency regulation, providing a controlled environment for testing the issuance processes, business models, investor protection mechanisms, and risk management systems […]

Hong Kong to rein in crypto trading with licensing framework

Hong Kong

Hong Kong has announced significant regulatory measures to curb suspicious over-the-counter (OTC) crypto trading activities. This development is part of the city’s broader efforts to enhance its financial security framework and maintain its reputation as a safe and regulated market for digital asset transactions. With approximately 450 shops, ATMs, and online platforms offering OTC crypto […]

Hong Kong crypto exchanges face regulatory deadline and scandals

Hong Kong

As the deadline looms for cryptocurrency exchanges in Hong Kong to obtain the necessary licensing, the industry is under intense scrutiny following a series of scandals and regulatory actions. Licensing deadline nears Crypto exchanges operating in the Special Administrative Region must apply for a Virtual Asset Trading Platform (VATP) license from the Securities & Futures […]

HKMA sets new guidelines for digital asset custody and tokenization


The Hong Kong Monetary Authority (HKMA) issued comprehensive guidelines on February 20, targeting the tokenization and custody of digital assets by authorized institutions (AIs). This development underscores HKMA’s commitment to aligning the operations of AIs with international standards and practices, ensuring a robust regulatory framework for the evolving landscape of digital finance. Setting new standards […]

Hong Kong’s crypto licensing draws local financial giants

Hong Kong's crypto licensing draws local financial giants

Less than a year since the Hong Kong gave the green light to cryptocurrency exchanges, there’s been a notable rush among established financial entities and brokerage firms to secure their spot in the crypto market. This move signals a broader acceptance and integration of cryptocurrencies within the region’s financial ecosystem, setting the stage for a […]

Hong Kong to Implement Universal AML Requirements for OTC Crypto Traders

Hong Kong to Implement Universal AML Requirements for OTC Crypto Traders

The Hong Kong government is set to expand its Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF) regulations to include over-the-counter (OTC) cryptocurrency transactions. The adjustment is aimed at aligning OTC digital asset trades with the regulatory standards applied to retail cryptocurrency exchanges. Extending AML Ccontrols to OTC cryptocurrency transactions Hong Kong authorities launched a “Public […]

Hong Kong sets crypto licensing deadline to boost security

Hong Kong

In a significant development within Hong Kong‘s financial sector, the Securities and Futures Commission (SFC) has issued a crucial advisory to investors in the virtual asset space. With the impending regulatory transition period set to end, the SFC emphasizes ensuring that virtual asset trading platforms are fully licensed, a move aimed at bolstering investor protection […]

Hong Kong to regulate OTC crypto trading Platforms for investor protection

Hong Kong

Hong Kong, a global financial hub, is taking significant steps to regulate over-the-counter (OTC) crypto trading platforms, aiming to ensure transparency and safeguard investors in the digital asset marketplace.  The region’s Financial Services and the Treasury Bureau (FSTB) recently announced its intention to introduce a new regulatory framework for OTC crypto trading. This move comes […]

Hong Kong tightens grip on virtual asset providers with new licensing deadline

Hong Kong

The Hong Kong government has set a firm deadline for virtual asset service providers (VASPs) to align with new licensing requirements. Christopher Hui, Hong Kong’s Secretary for Financial Services and the Treasury, in blog post, conveyed the urgency for unlicensed VASPs to comply by February 29 or face cessation of operations by May 31. This […]

Hong Kong Withdraws from eAsian Cup in Qatar Over Name Display Issue

Hong Kong

Hong Kong’s participation in the eAsian Cup, an esports tournament held alongside the Asian Cup in Qatar, came to an unexpected end as the city’s football team withdrew due to a dispute over the display of their official name.  The team, known as “Hong Kong, China” in official sports associations, encountered technical difficulties with the […]

Hong Kong Imposes 50% Minimum Insurance Requirement for Licensed Crypto Exchanges

Hong Kong

In a bid to ensure the safety of investors’ funds, the Hong Kong Securities and Futures Commission (SFC) has instituted a minimum insurance requirement of 50% for licensed cryptocurrency exchanges that handle customers’ assets. This move is aimed at fortifying the cryptocurrency market and protecting users from potential security breaches or insolvency. Hong Kong Exchanges […]

Hong Kong mandates crypto exchange insurance at 50% for licensing

Hong Kong mandates crypto exchange insurance at 50% for licensing

Marking a bold move in the cryptocurrency sector, Hong Kong’s Securities and Futures Commission (SFC) has recently mandated a minimum insurance requirement of 50% for licensed crypto exchanges managing customer assets. This groundbreaking rule, aiming to bolster the security and integrity of digital asset exchanges, reflects Hong Kong’s commitment to establishing a robust and reliable […]

HashKey Group and OKX forge game-changing blockchain alliance

HashKey Group

HashKey Group, a leading digital asset management and blockchain solutions provider, has announced a strategic partnership with OKX, a top-tier virtual asset exchange. This collaboration is set to revolutionize the digital asset landscape in Hong Kong, focusing on blockchain infrastructure, product innovation, and investor education. HashKey Group and OKX commit to investor education The cornerstone […]

Hong Kong crypto exchange OSL foresees issuance of first Spot Crypto ETFs by mid-year

Hong Kong

Gary Tiu, the Executive Director and Head of Regulatory Affairs at OSL, a Hong Kong-licensed cryptocurrency exchange, has revealed that the special administrative region could potentially witness the introduction of its first spot cryptocurrency exchange-traded funds (ETFs) by the middle of this year.  This development comes as Hong Kong continues to explore opportunities in the […]

Hong Kong’s financial firm VSFG set to launch spot Bitcoin ETF in Q1 2024

Hong Kong’s financial firm VSFG set to launch spot Bitcoin ETF in Q1 2024

Venture Smart Financial Holdings (VSFG), a leading financial services company based in Hong Kong, is gearing up for a significant move in the cryptocurrency market. The firm plans to introduce a spot Bitcoin exchange-traded fund (ETF) within the first quarter of 2024. This strategic decision aligns with the company’s goal of expanding its asset management […]

Hong Kong lawmaker calls for crypto education and leadership in virtual assets

Hong Kong

Johnny Ng, a prominent lawmaker in Hong Kong, has voiced his opinion regarding approving spot Bitcoin ETFs in the United States. He took to social media to express his belief that Hong Kong should take the initiative in cryptocurrency.  Ng emphasized the need for Hong Kong to lead by fostering innovation and implementing relevant policies […]

Hong Kong Researchers Propose AI and Robotics Curriculum for Young Students

AI and robotics

In a groundbreaking move, a group of Hong Kong-based researchers has spearheaded an initiative to revolutionize education by introducing a comprehensive framework centered around the realms of artificial intelligence (AI) and robotics.  The AI4K12 initiative aims to familiarize young students with the rapidly evolving landscape of these emerging technologies, tailoring its approach to K-12 education. […]

HashKey Exchange adopts new compliance measures in Line with Hong Kong’s travel rule

HashKey Exchange adopts new compliance measures in Line with Hong Kong's travel rule

HashKey Exchange, a prominent player in the digital asset sphere in Hong Kong, has revamped its operational framework to align with the new Travel Rule. This regulatory change, effective from the start of 2024, signifies a major shift in how virtual asset service providers (VASPs), including cryptocurrency exchanges, operate within the region. The Travel Rule, […]

Hong Kong tightens rules for stablecoins, aims for hub status

Hong Kong

In a significant move to position itself as a leading virtual asset hub, Hong Kong has introduced stringent regulations for stablecoins. This development presents a challenging landscape for popular stablecoins such as Tether (USDT) and USD Coin (USDC), as the new regulatory framework is considered more rigorous than Singapore’s. Hong Kong’s stringent regulatory approach According […]

World leaders join digital economy forum for web 3.0 and Metaverse

World leaders join digital economy forum for web 3.0 and Metaverse

The digital economy landscape is witnessing a seismic shift as world leaders converge for the “Guangdong-Hong Kong-Macao Greater Bay Area Digital Economy Development Conference”, also known as the first Yuan Asset Forum and the 9th Guanhuo Web 3.0 Thousand People Summit. This pivotal event, orchestrated by a coalition of influential organizations including the Silk Road […]

Hong Kong proposes licensing for fiat-referenced stablecoins

Hong Kong

The Financial Services and the Treasury Bureau (FSTB) and the Hong Kong Monetary Authority (HKMA) have released a consultation paper outlining their proposal to accept and regulate fiat-referenced stablecoins (FRS) within the region.  This significant development aims to provide a regulatory framework for stablecoin issuers while mitigating associated risks. The consultation period is set to […]

Hong Kong opens crypto ETF market to retail investors

Hong Kong

Hong Kong is taking a significant step forward in the cryptocurrency market by allowing retail investors to directly access exchange-traded funds (ETFs) linked to cryptocurrencies. This move, announced jointly by the Securities and Futures Commission (SFC) and the Hong Kong Monetary Authority, marks a pivotal moment in the city’s efforts to establish itself as a […]

Hong Kong takes the lead as Asia’s crypto hub in 2023— here’s why

Hong Kong

Hong Kong has solidified its position as a burgeoning hub for cryptocurrency and Web3 innovation in a noteworthy move. It is important to know that June marked the initiation of the city’s official crypto licensing regime for virtual asset trading platforms. This pivotal step enabled licensed exchanges, including HashKey and OSL, to extend retail trading […]

Short-term gains drive majority of Hong Kong’s crypto investors, survey reveals

Short-term gains drive majority of Hong Kong's crypto investors, survey reveals

A recent study conducted by the Department of Applied Social Sciences at the Hong Kong Polytechnic University sheds light on the motivations of virtual asset investors in Hong Kong. According to the survey, approximately three-quarters of surveyed investors expressed their primary motive as pursuing short-term returns. This significant majority also indicated their belief in virtual […]

ZA Bank leads Hong Kong’s Web3 revolution with over 80 crypto partnerships

ZA Bank leads Hong Kong's Web3 revolution with over 80 crypto partnerships

Hong Kong-based ZA Bank has solidified its commitment to the Web3 ecosystem, providing support to over 80 web3 companies. The digital-only bank, known for its innovative approach, is making significant strides in becoming a global hub for web3. In a recent blog post titled “ZA Bank 2023 in Review,” the bank outlined its achievements and […]

JPMorgan ex-banker shakes up Hong Kong


The story of how Nicolas Aguzin, a former JPMorgan star banker, faced challenges at Hong Kong Exchanges and Clearing (HKEX) unravels like a gripping novel. Aguzin’s tenure as CEO of HKEX, beginning in May 2021, was marked by ambitious initiatives and unconventional ideas, but it also highlighted the complexities and political sensitivities of running one […]

Hong Kong’s Emergence as a Hub for Startups and AI Applications

AI Applications

In the wake of a harrowing week that included a typhoon and black rainstorm, the rescue of a missing student showcased the power of collaboration between humans and machines, particularly in the application of Information and Technology (I&T) in Hong Kong. The Fire Services Department’s (FSD) use of geographic information and artificial intelligence (AI) to […]

Hong Kong launches digital green bonds with major banks

Hong Kong

Hong Kong (HK) is taking significant strides in digital asset finance in Asia. The city has engaged five major banks, including HSBC Holdings Plc and Credit Agricole CIB, to lead a series of digital green bond sales. This move is a testament to Hong Kong’s commitment to merging advanced financial technologies with sustainable practices, leveraging […]

Hong Kong SFC alerts on HongKongDAO and BitCuped fraud concerns

Hong Kong SFC

The Securities and Futures Commission (SFC) of Hong Kong has issued a significant warning against two cryptocurrency firms, Hong Kong Digital Research Institute (HongKongDAO) and BitCuped, for their involvement in fraudulent operations. This step underscores the SFC’s commitment to regulating the burgeoning digital currency market and protecting the interests of investors. Hong Kong SFC acts […]

Hong Kong’s SFC issues fraud warning against two crypto entities

The Securities and Futures Commission (SFC) of Hong Kong has recently issued a stern warning against two cryptocurrency entities, Hong Kong Digital Research Institute and BitCuped, for suspected fraudulent activities. The SFC, in collaboration with the Hong Kong Police Force, has blocked access to the websites of these entities to prevent potential investment scams. The […]

Bitget suspends new user onboarding in Hong Kong

Hong Kong

Cryptocurrency exchange and Web3 company Bitget has temporarily halted new user onboarding as it engages in negotiations poised to reshape its presence in the Asia-Pacific region. The move comes shortly after Bitget’s exit from Hong Kong, a significant crypto hub in the APAC region. The exchange’s decision to suspend new registrations in China is part […]

Hong Kong explores ICO as economic booster

Hong Kong explores ICO as economic booster

Hong Kong is considering a bold new approach to rejuvenate its economy: the introduction of an Initial Coin Offering (ICO). This idea, first suggested by the Hong Kong Securities and Futures Professional Association, has sparked lively debate among financial experts and policymakers. The proposal is seen as a radical step, diverging from traditional economic recovery […]

Hong Kong securities association proposes Initial Coin Offering (ICO) mechanism

Hong Kong

The Hong Kong Securities and Futures Professional Association has put forth a surprising proposition to revitalize Hong Kong’s economy. In a document released on November 29, the association’s president, Chen Zhihua, included a suggestion that Hong Kong consider launching an initial coin offering (ICO) mechanism. This proposal, among others, aims to stimulate economic growth and […]

Accelerated crypto approvals in Hong Kong post-JPEX rugpull incident

Accelerated crypto approvals in Hong Kong post-JPEX rugpull incident

Hong Kong, a city known for its skyscrapers and dim sum, has been making headlines in the world of cryptocurrency. Following the JPEX rugpull incident, a situation that sent shockwaves through the crypto community, Hong Kong’s government has shifted gears, accelerating the approval process for cryptocurrency products. This move aims to bolster the development of […]

Standard Chartered Bank ventures into China’s Digital Yuan project

Standard Chartered Bank ventures into China’s Digital Yuan project

Standard Chartered Bank has announced its participation in the trials of China’s digital yuan, also known as the e-CNY. This move positions Standard Chartered as one of the first foreign banks to engage directly with China’s Central Bank Digital Currency (CBDC) initiative, highlighting a significant shift in the digital currency ecosystem. Digital Yuan: A step […]

Interactive Brokers HK gains approval for crypto trading

Hong Kong

In a significant development for the cryptocurrency market in Hong Kong, Interactive Brokers Hong Kong (IBHK) has received approval from the Securities and Futures Commission (SFC) to extend its virtual asset trading services to retail clients. This move allows Hong Kong residents to engage in trading activities involving major cryptocurrencies such as Bitcoin (BTC) and […]

Hong Kong’s SFC puts Binance’s license bid under scrutiny


Binance, the world’s leading cryptocurrency exchange, confronts major regulatory challenges in its bid to secure a crypto license in Hong Kong. This situation arises amid the backdrop of the exchange’s founder, Changpeng Zhao, pleading guilty to violations of US anti-money-laundering laws, casting doubt over the exchange’s future in the region. Regulatory scrutiny intensifies The situation […]

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