What’s next in the fee fight for Hong Kong ETFs?
Hong Kong’s financial market will experience competition for the fees among the newly approved Bitcoin and Ethereum exchange-traded products (ETFs). These funds, are licensed by SFC and scheduled to start trading on April 30, 2024. The approval covers three ETFs of China AMC, Harvest Global Investments, and a joint venture of Bosera and HashKey Capital. […]
Hong Kong aims to become a digital asset hub
Hong Kong is now jumping on the cryptocurrency bandwagon and will list several cryptocurrency exchange-traded funds (ETFs ) based on the more successful attempts in the US. Hong Kong will pursue employment of all its means so that tier 1 level cities will start to show progress in becoming a digital asset hub. Hong Kong’s […]
Hong Kong pushes for self-regulatory bodies in the crypto industry
The Hong Kong regulators asserted, “Many ways in the world are where economically developed regions set up statutory semi-official industry self-regulatory institutions with the intention of focusing on industry development.” As HKSFPA has recommended, crypto firms in Hong Kong may set up a self-regulatory committee and be responsible for being compliant, too. Hong Kong’s push […]
Victory Securities releases Hong Kong Bitcoin and Ethereum Spot ETF guide
Hong Kong-based Victory Securities recently revealed its fee proposals for Bitcoin and Ethereum exchange-traded funds (ETFs), shortly after regional authorities approved the trading of these cryptocurrency products. This move by Victory Securities comes amid anticipation as the Hong Kong Securities and Futures Commission (SFC) has yet to announce a complete list of approved ETF issuers. […]
Hong Kong Customs Arrests 3 in HK$1.8B Crypto Money-Laundering Scheme
Hong Kong customs officials have detained three individuals for their involvement in a money-laundering scheme valued at HK$1.8 billion, linked to a crypto platform and bank accounts owned by fictitious companies. Hong Kong’s billion-dollar case According to a report, these accounts experienced unusually frequent and large-scale transactions despite the absence of tax filings, trade declarations, […]
OSL announces potential April debut for Hong Kong Bitcoin ETFs
Hong Kong-based asset managers like China Asset Management (ChinaAMC) may soon be involved in introducing their spot Bitcoin exchange-traded funds (ETFs). According to Patrick Pan, head of OSL, the platform, he said these ETFs could be by late April. During this session, he emphasized that they could not determine the dates, but all were focused […]
Bloomberg analyst makes shocking prediction about Hong Kong’s ETFs
Hong Kong’s Securities and Futures Commission (SFC) announced the issuance of conditional approvals to three asset managers to begin issuing spot Bitcoin and Ethereum exchange-traded funds (ETFs). However, Bloomberg ETF analyst Eric Balchunas has played down the excitement surrounding the recent approval of the spot BTC and ETH ETFs in Hong Kong. Bloomberg analyst discusses […]
Bitcoin miners may not have a happy halving – Here’s why
The crypto market, led by Bitcoin, is recovering from a weekend bloodbath amidst geopolitical tensions between Iran and Israel. While that conversation is taking place, the crypto market is preparing for the Bitcoin halving that is set for this week, April the 19th. Here is a market catch up to bring you up to speed […]
Hong Kong greenlights first Bitcoin and Ether ETFs
Hong Kong has given the green light to applications for spot Bitcoin (BTC) and Ethereum (ETH) ETFs (Exchange Traded Funds). In 2024, the region became the second to take this step, following the SEC’s groundbreaking approval of 11 spot BTC ETFs in the US. Despite approving 11 spot Bitcoin ETFs, the US has not yet […]
Hong Kong Bitcoin ETFs predicted to unlock $25 billion in demand
With Hong Kong likely to approve its spot Bitcoin exchange-traded funds (ETFs) very soon, there have been a lot of discussions concerning its potential. One of those highlighting its potential is Singapore-based crypto service provider Matrixport. According to the platform, the crypto investment product could experience up to $25 billion in demand from Chinese investors […]
HashKey finalizes testing phase for upcoming Bitcoin ETFs
HashKey, a Hong Kong-based licensed cryptocurrency exchange, is putting the final touches to spot bitcoin exchange-traded funds (ETFs) infrastructure for launching. As per Livio Weng, the chief executive of HashKey Exchange, they are now in the “integration and functional testing” stage. The company has collaborated with unnamed asset managers to create these ETFs. This is […]
Just In: Hong Kong set to introduce four spot Bitcoin ETFs this April
The Securities Regulatory Commission of Hong Kong (SFC) is reportedly speeding up the approval of the very first batch of spot Bitcoin exchange-traded funds (ETFs). According to local news agency Tencent News, the SFC will approve four such ETFs by April 15. This is a big step in the world’s crypto investing landscape, and today, […]
Hong Kong’ investment scene turns out to be Bitcoin ETF-oriented due to initiatives.
Hong Kong-based subsidiaries to launch Bitcoin Exchange-Traded Funds (ETFs) which may in the long-run indicate the potential change in the investment approach to crypto currency. Industry sources have recently revealed CME members Harvest Fund’s and CSF’s Hong Kong branches, right in the first row, for the Bitcoin ETFs application, with Harvest Fund logo purposing the […]
Hong Kong Deputy Secretary says Web3 tech is revolutionary at Carnival opening
During the opening ceremony of the Web3 Carnival in Hong Kong, Huang Weilun, who serves as the Deputy Secretary of Financial Services and the Treasury of the Hong Kong Special Administrative Region, expressed his belief that Web3 is a revolutionary technology, according to a local report on April 6. He also emphasized Hong Kong’s commitment […]
Monochrome moves Bitcoin ETF bid to Cboe Australia
Monochrome Asset Management, a Brisbane-based company, has moved its request for Bitcoin exchange-traded fund (ETF) licenses to Cboe Australia. The company’s intent was to go public on the Australian Securities Exchange (ASX) by July 2023. The selection of Cboe Australia results from the growing importance of Asia’s investment landscape. Monochrome wants to utilize Cboe’s market […]
Hong Kong Crypto exchange HKVAEX to permanently shut down amid regulatory pressure
Amidst the breakthrough in Hong Kong’s cryptocurrency infrastructure, HKVAEX, a local digital asset trading platform, made its intermittent closure plan public, resulting in a final shutdown on May 1st, 2024. This decision occurred amid the ongoing pressure for regulatory oversight of the cryptocurrency industry, following the region’s example of Hong Kong. Regulatory scrutiny and closure […]
Hong Kong to Expand Surveillance Camera Network Amidst Privacy Concerns
In response to rising crime rates, the Hong Kong police have unveiled plans to bolster the city’s surveillance infrastructure by installing 615 new cameras. This move, announced in February 2024, targets areas with high crime figures and pedestrian traffic. Moreover, integrating artificial intelligence (AI) capabilities into these surveillance systems is possible, marking a significant technological […]
Bybit expands to Europe, launches Dutch platform Bybit.nl
Bybit, a leading global cryptocurrency exchange, has announced its expansion into the European market. This development comes in view of the exchange looking for fresh prospects after encountering regulatory issues in Hong Kong. Bybit announced that Bybit.nl, a digital asset platform specifically designed for the Dutch market, was launched on March 28. The platform is […]
Binance-linked HKVAEX ends Hong Kong operations by May
HKVAEX, which is thought to be associated with Binance, has pulled out its license application for Hong Kong. This development followed a deadline set by the Securities and Futures Commission of Hong Kong (SFC) for cryptocurrency exchanges. The date was targeted to formalize the operations of the crypto exchanges within the area by February 29. […]
Hong Kong firms apply for first spot Bitcoin ETF
The Hong Kong-based asset manager VSFG has teamed up with Value Partners to apply for a license for a spot Bitcoin ETF. This action is an epochal moment in the financial face of the region. It is a continuation after the submission by Harvest Global Investments, which was the first company to make an application […]
Analyst Reveals Hong Kong’s Plan to Greenlight In-Kind Bitcoin ETFs
Hong Kong is poised to consider allowing in-kind creations and redemptions for spot Bitcoin exchange-traded Funds (ETFs). This development, anticipated in the second quarter of this year, could herald a significant influx of capital from Chinese investors into the digital asset space. Analysts from Boomerang, a leading financial research firm, have highlighted the potential implications […]
Hong Kong central bank flags e-HKD investment scams
The Hong Kong Monetary Authority (HKMA) has issued a public warning about certain organizations. These groups falsely claim an association with its e-HKD pilot projects. The central bank’s advisory highlights concerns as Hong Kong evaluates the potential of a central bank digital currency (CBDC) through various trial projects. The misleading entities have reportedly promoted investment […]
Bybit faces regulatory heat for unlicensed Hong Kong operations
The Securities and Futures Commission (SFC) of Hong Kong has recently issued a public warning. It concerns Bybit, a virtual asset trading platform. The SFC’s announcement, dated March 14, highlights that Bybit operates without the necessary licensing in the region. This move marks a significant step by the regulatory body to safeguard investors from potential […]
Hong Kong gaming firm Boyaa Interactive’s bold move into cryptocurrency
In a bold strategic move, Hong Kong-based online gaming company Boyaa Interactive has propelled its shares to new heights with a remarkable 318% surge over the past month. This surge comes from the firm announcing a $100 million initiative to allocate significant corporate funds to the cryptocurrency market. Cryptocurrency investment initiative Boyaa Interactive unveiled its […]
Shaping the Future of Finance: Hong Kong’s Regulatory Framework for Stablecoin Issuers
In an era where the digital economy and traditional financial systems are becoming increasingly intertwined, the Hong Kong Monetary Authority (HKMA) is taking proactive steps to establish a regulatory framework for stablecoin issuers within the region. Recognizing the potential risks and opportunities presented by the burgeoning virtual asset market, the HKMA’s initiative aims to ensure […]
Spot Ethereum ETFs gain momentum in Hong Kong’s crypto boom
Hong Kong is poised to launch a spot in the Ethereum ETF ahead of the United States. This move comes as the city witnesses a surge in crypto market activity, bolstered by regulatory approvals. Concurrently, ten financial institutions, including Harvest Finance, have unveiled plans to introduce spot Bitcoin ETFs in Hong Kong. The local media […]
Hong Kong regulator acts against imposter crypto websites
The Securities and Futures Commission (SFC) of Hong Kong has recently intensified its crackdown on cryptocurrency fraud by identifying and blocking several fake websites. These counterfeit sites were found to be impersonating major local cryptocurrency exchanges, namely OSL Digital Securities and Hash Blockchain Limited, which is also known as HashKey. The regulatory body’s vigilant actions […]
Which crypto exchange made it to Hong Kong’s license application deadline?
Hong Kong has recently emerged as a significant hub for the crypto industry, evidenced by the substantial interest from companies seeking to operate digital asset exchanges within its jurisdiction. Despite fierce competition from other global financial centers, Hong Kong has attracted 24 applicants for crypto exchange permits. Major crypto exchanges, including Binance, have chosen to […]
Hong Kong crypto exchanges face shutdown deadline
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
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’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 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
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
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
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
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, 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
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’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 […]
