Cryptocurrency Analysis and News Portal
Crypto-friendly Hong Kong is still gung-ho about giving its citizens access to crypto trading despite other jurisdictions “taking a step back,” claims the chair of the FinTech Association of Hong Kong (FTAHK).Speaking to Cointelegraph at the Hong Kong WOW Summit in March, FTAHK chair Neil Tan said while Singapore and
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Despite Hong Kong steadily progressing with cryptocurrency adoption, mainland China has not changed its anti-crypto stance in terms of local regulations.Some Chinese state-affiliated banks have increasingly opened bank accounts to serve crypto clients in Hong Kong. CPIC Investment Management — a China government-backed firm regulated as a Hong Kong entity —
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Despite the raging impact of inflation in different economies, monetary authorities have not been sitting on their oars, rather, they have been fighting the surge through consistent interest rate hikes. The Hong Kong Initial Public Offering (IPO) market has failed to get lifted from its dampened sentiment after the listing of
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The push to support crypto is gaining traction in Hong Kong as some banks are already pledging support to the industry. The Hong Kong Monetary Authority (HKMA) is truly doubling down on its efforts to provide full support to the digital currency ecosystem with its recent circular to banks operating on
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The Hong Kong Monetary Authority (HKMA), the city’s central banking institution and regulator, has called on banks to provide their services to cryptocurrency firms.On April 27, HKMA issued a circular related to the access of corporate customers to banking services. In the document, the regulator has required authorized institutions, referred
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Crypto companies have complained that opening bank accounts in the jurisdiction is difficult. Source
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One size does not fit all when it comes to Anti-Money Laundering (AML), the Hong Kong Monetary Authority (HKMA) reminded banks on April 27. Banks should not make it unnecessarily hard to open accounts. There has been a wave of companies opening bank accounts in Hong Kong to take advantage of
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The Hong Kong Securities Futures Commission (SFC) is reportedly set to release cryptocurrency exchange licensing guidelines next month. The plans were reported by Bloomberg on April 27, which cited comments from the SFC’s chief executive Julia Leung on Thursday. The incoming guidelines will provide support to crypto trading platforms that
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According to a report published by the Hong Kong Stock Exchange (HKSE), two Bitcoin (BTC) exchange-traded funds (ETF) and an Ethereum (ETH) ETF listed on HKSE averaged 9.30 million Hong Kong dollars ($1.19 million) in daily trading volume from Dec. 16, 2022, to Feb. 7, 2023. As the first region in
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In a court case linked to the now-defunct crypto exchange Gatecoin, a Hong Kong judge has ruled that cryptocurrencies are “property” which is “capable of being held on trust.” According to the law firm Hogan Lovells, this case should provide greater clarity to insolvency practitioners and other common law jurisdictions. Hong
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