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On Monday, however, Babel said it had reached preliminary agreements with counterparties on the repayment of some debts that led to the halt on withdrawals. "We have actively communicated with shareholders and potential investors, and will continue to communicate and obtain liquidity support," Babel said in a statement. Original Source
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The Securities and Futures Commission (SFC) of Hong Kong, the financial regulator responsible for overseeing Hong Kong’s securities market, has issued an advisory warning to investors. The notice is about risks associated with purchasing and trading unregulated non-fungible tokens (NFTs). The advisory points out that NFTs do not have any
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As crypto’s market cap pushes past $2 trillion and makes its way onto the balance sheet of many institutional investors and corporations, Hong Kong insurer OneDegree has announced a deal with Munich Re, one of the world’s largest reinsurers, to offer a new digital asset insurance product. Original Source
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Analysts says that the market crash in Hong Kong is being driven by regulatory not monetary policies, which is why the contagion has not spread to crypto. Original Source
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In recent months, the Hong Kong Securities and Futures Commission (SFC) has received “a number” of requests from local companies that want to offer crypto-related exchange-traded funds (ETFs) to their private bank and professional clients, SFC’s Deputy Chief Executive Officer & Executive Director Julia Leung said. Original Source
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Hong Kong’s plan to restrict cryptocurrency investment to professionals means retail investors could move to unlicensed venues, said Global Digital Finance. Source
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BC's OSL exchange is the first crypto brokerage to receive Hong Kong regulators' blessing. Source
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Crypto market maker Amber Group will service its clientele of institutional traders with the help of BitGo Trust, the custodial arm of the Palo Alto-based security firm.BitGo’s status as a qualified custodian should draw more high-net-worth investors to Amber from places like Hong Kong, Taiwan and Seoul, the companies said.The
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Hong Kong’s government is seeking to change the rules for cryptocurrency trading firms operating or offering services within the city jurisdiction.A new consultation paper detailed by Clara Chiu, director of licensing at the Securities and Futures Commission (SFC), in a keynote speech at Hong Kong FinTech Week 2020 on Tuesday,
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