The government will enact the new legislation to bring issuers of fiat-referencing stablecoins into the regulatory perimeter.
On 17 July 2024, the Financial Services and the Treasury Bureau and the Hong Kong Monetary...more
7/29/2024
/ Blockchain ,
Compliance ,
Consultation ,
Corporate Issuers ,
Court of Justice of the European Union (CJEU) ,
Cross-Border ,
Cryptoassets ,
EU ,
Hong Kong ,
Hong Kong Monetary Authority (HKMA) ,
Licensing Rules ,
Sandbox ,
Stablecoins
Implementation of Basel Committee cryptoassets standard to provide additional clarity for banks looking to engage in cryptoassets business.
On 7 February 2024, the Hong Kong Monetary Authority (HKMA) released a...more
2/26/2024
/ Asset Tokens ,
Banking Sector ,
Basel Committee on Banking Supervision (BCBS) ,
Consultation ,
Cryptoassets ,
Financial Services Industry ,
Hong Kong ,
Hong Kong Monetary Authority (HKMA) ,
Popular ,
Prudential Standards ,
Stablecoins ,
Treasury Regulations
Revamped SFC and HKMA guidance applies to intermediaries that distribute products or provide dealing, advisory, and asset management services related to virtual assets.
On 20 October 2023, the Hong Kong Monetary...more
10/30/2023
/ Asset Management ,
Cryptoassets ,
FinTech ,
Hong Kong ,
Hong Kong Monetary Authority (HKMA) ,
Hong Kong Securities and Futures Commission (HKSFC) ,
Institutional Investors ,
Investment Adviser ,
Investors ,
Joint Policy Statements ,
New Guidance ,
Regulatory Authority ,
Retail Investors ,
Trading Platforms
On 24 June 2022, the Hong Kong government published in the Gazette the Anti-Money Laundering and Counter-Terrorist Financing (Amendment) Bill 2022 (Amendment Bill). The Amendment Bill proposes amendments to the Anti-Money...more
Regulators released comprehensive guidance to banks, intermediaries, and insurers on virtual asset-related activities.
Key Points:
..Banks and intermediaries looking to provide distribution, dealing, and advisory...more
The Hong Kong government has issued its widely anticipated consultation conclusions on a new framework to regulate virtual asset exchanges. On 21 May 2021, the Hong Kong Financial Services and the Treasury Bureau (FSTB)...more
5/26/2021
/ Anti-Money Laundering ,
Anti-Terrorism Financing ,
Consultation ,
Crypto Exchanges ,
Cryptoassets ,
FinTech ,
Hong Kong ,
Hong Kong Securities and Futures Commission (HKSFC) ,
Licenses ,
Market Participants ,
Peer-to-Peer ,
Regulatory Requirements
Hong Kong’s Securities and Futures Commission’s introduces new licensing regime to regulate previously unregulated markets and restates expectations regarding security token offerings.
The second day of Hong Kong Fintech...more
Crypto-asset trading is a fast-growing part of the financial sector. Some countries have wholeheartedly embraced crypto-assets; others have been reticent to permit widespread adoption. Generally, countries have interpreted...more
The SFC has outlined its regulatory approach to the management and distribution of virtual asset funds and virtual asset exchanges.
Key Points:
..Investor protection is paramount and the SFC is taking steps to tighten...more