News & Analysis as of October 15, 2024

Virtual Currency › Hong Kong

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Virtual Currency (aka Digital Currency or Digital Money) is a type of currency or medium of exchange that is not issued by any government nor guaranteed by a government currency. Despite lacking legal tender status, Virtual Currency is still traded and exchanged in some environments, typically online environments or communities. Bitcoin is the most well-known form of Virtual Currency. less -

Weekly Blockchain Blog - April 2024 #5

BakerHostetler on 4/29/2024

Hong Kong Approves Crypto ETFs; Crypto Security, Payments Products Launch - According to recent reports, the Hong Kong Securities and Futures Trading Commission has conditionally approved the launch of the first spot...more

Hong Kong Proposes Regulation of Over-the-Counter Crypto Trading

Latham & Watkins LLP on 2/13/2024

On 8 February 2024, the Financial Services and the Treasury Bureau (FSTB) released a consultation paper on its legislative proposal to introduce a regulatory regime governing over-the-counter (OTC) trading of virtual assets...more

Investigations update: Hong Kong authorities ramp up enforcement in virtual assets and other sectors

A&O Shearman on 1/11/2024

Hong Kong has seen cryptocurrencies grow in popularity, highlighting the need for appropriate licensing regimes (implemented in the form of virtual asset service providers (VASPs)), bolstered by active enforcement actions. ...more

BVI to Introduce the Virtual Assets Service Providers Act

Conyers on 12/9/2022

The British Virgin Islands (“BVI”) is proposing to introduce virtual assets service provider (“VASP”) legislation and has recently circulated a draft bill in the form of the Virtual Assets Service Providers Act, 2022 (the...more

Sanctions Roundup: Fourth Quarter 2021

A&O Shearman on 1/24/2022

Closing the year with a renewed focus on the People’s Republic of China, the Biden Administration imposed new export restrictions on US-origin technology to Chinese tech firms to hinder the PRC’s military and security...more

Treasury Releases Long-Awaited Sanctions Policy Review

WilmerHale on 10/20/2021

The US Treasury Department has released its 2021 Sanctions Review (the “Review”), which describes the US sanctions framework and the agency’s future sanctions priorities. The Review reflects on the evolution over two decades...more

Key Regulatory Developments in Hong Kong and Singapore: November 2020

Latham & Watkins LLP on 12/9/2020

Regulators propose new regulations for virtual asset exchanges and enhanced customer identity verification requirements, and launch an innovative commercial data interchange. This blog post summarises key regulatory...more

Decoded: Technology Law Insights - Issue 10, November 2020

Spilman Thomas & Battle, PLLC on 11/11/2020

VIDEO: Cryptocurrency - Legitimate Uses and Potential Issues - Following the recent publication of the U.S. Attorney General's cryptocurrency enforcement framework, Spilman attorneys Corey Bonasso and Nick Mooney discuss...more

Cryo-currency? Hong Kong Court grants freezing injunction over bitcoins

Hogan Lovells on 12/5/2019

A Hong Kong court has granted an injunction freezing the assets of a French cryptocurrency trader in a dispute over what happened to bitcoins held in an insolvent trading platform. In Nico Constantijn Antonius Samara v Stive...more

SFC Addresses Regulation of Managers of Virtual Asset Funds and Virtual Asset Discretionary Accounts

Dechert LLP on 11/6/2019

In light of an increasing demand for virtual asset investment products, the Hong Kong Securities and Futures Commission (SFC) has been taking steps to clarify the legal and regulatory requirements for this market. In this...more

BitBlog Weekly Update

Polsinelli on 10/29/2019

This BitBlog summary focuses on the continuing actions by the U.S. Securities and Exchange Commission (“SEC”) against the issuers of noncompliant initial coin offerings (“ICOs”) and other crypto related transactions including...more

Bridging the Weeks - July 2019 #2

Katten Muchin Rosenman LLP on 7/9/2019

The United Kingdom’s Financial Conduct Authority proposed to ban the marketing and sale in or from the UK to retail persons of derivatives and exchange-traded notes based on cryptocurrencies and utility digital tokens,...more

Hong Kong’s SFC Issues Significant Announcements on the Regulation of Virtual Assets

Latham & Watkins LLP on 11/6/2018

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

Your Daily Dose of Financial News

Robins Kaplan LLP on 9/27/2018

To no one’s surprise, the Fed followed through with its months of promises and raised its benchmark interest rate by 25 basis points yesterday. The FOMC also indicated that it’s planning to raise rates again in December....more

Blockchain Week in Review – April 2017 #2

Perkins Coie on 4/18/2017

Below is a summary of some of the significant legal and regulatory actions that occurred over the past week. This alert is not intended to be a comprehensive list of all such developments, but rather a selection of...more

Bitcoin Exchange Bitfinex Hacked

Robinson+Cole Data Privacy + Security Insider on 8/9/2016

Bitcoin Exchange Bitfinex, based in Hong Kong, was hacked last week, incurring a whopping loss of $65 million. It was shut down last week after 119,756 bitcoins were stolen from users’ accounts....more

Bridging the Week - August 2015

Katten Muchin Rosenman LLP on 8/4/2015

ESMA Says “No for Now” to Granting Passport Rights to US Fund Managers Under AIFMD: The European Securities and Markets Authority told the European Commission last week that it was premature to grant passport rights to...more

Bitcoin – The Ever “Curiouser and Curiouser” Bitcoin Wonderland – Part Eleven

Dorsey & Whitney LLP on 1/27/2015

“Virtual currencies” in general, and bitcoin in particular, continue to attract media attention as well as intense public and regulatory scrutiny. In the United States, the recent establishment of the Digital Currency...more

Bitcoin – Haven In Hong Kong? - Part Ten

Dorsey & Whitney LLP on 9/4/2014

“Virtual currencies” in general, and bitcoin in particular, continue to attract media attention as well as intense public and regulatory scrutiny. The regulators seem to have realized that the bitcoin genie is out of the...more

Bitcoin – Migration from China to Hong Kong – Part Nine

Dorsey & Whitney LLP on 5/22/2014

“Virtual currencies” in general, and bitcoin in particular, continue to attract frenzied media attention coupled with immense public and regulatory scrutiny as an ever increasing number of countries review and clarify their...more

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Virtual Currency › Hong Kong

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