Hong Kong

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Trading of Hong Kong Spot Bitcoin and Ethereum ETFs Starts April 30

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Per the Securities and Futures Commission (SFC) of Hong Kong, the region’s newly authorized spot bitcoin and ethereum exchange-traded funds (ETFs) are set to commence trading on Tuesday, April 30, 2024. Anticipation Builds for the Rollout of Bitcoin and Ethereum ETFs in Hong Kong Recently, the SFC of Hong Kong announced its approval for several … Read more

Operation Racer: Hong Kong Authorities Dismantle Cryptocurrency Laundering Operation

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Hong Kong customs officers arrested three individuals involved in a HK$1.8 billion ($228 million) money laundering operation that utilized a cryptocurrency platform and bank accounts of shell companies, with investigations revealing suspicious activities such as abnormally frequent large transactions in accounts with no clear financial backgrounds. The suspects, who did not know each other, allegedly … Read more

Hong Kong Approves First Spot Bitcoin and Ethereum ETFs

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The Hong Kong Securities and Futures Commission (SFC) has given the green light to several spot bitcoin and ethereum exchange-traded funds (ETFs), a move that signals substantial progress in the region’s crypto market, with approvals awarded to China Asset Management, Bosera Capital, and Hashkey Capital Limited, and an in-principle approval for Harvest Global Investments. These … Read more

Sources Say Hong Kong Set to Approve First Spot Bitcoin ETFs as Early as Monday

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A recent report indicates that spot bitcoin exchange-traded funds (ETFs) are poised to receive approval from Hong Kong regulators as early as this Monday, as stated by “people familiar with the matter.” Harvest, Hashkey and Bosera ETFs Likely to Debut in Hong Kong Next Week Following the approval of 11 spot bitcoin ETFs in the … Read more

Hong Kong’s ZA Bank to Offer Custody Accounts for Stablecoin Issuers

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ZA Bank, a virtual bank in Hong Kong, will offer cash custody accounts for institutions that want to issue stablecoins. The organization is in talks with several parties seeking to issue their stablecoins, and this service would be available for them after receiving a license from the Hong Kong Monetary Authority (HKMA). ZA Bank to … Read more

HSBC Launches Tokenized Gold Product Targeting Hong Kong Market

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HSBC, the London-based financial institution, launched the first bank-backed tokenized gold product for its customers in Hong Kong. HSBC Gold Token will allow retail investors to purchase tokenized gold from their smartphones using the bank’s online app, democratizing access to these gold contracts for retail customers and leveraging distributed ledger technology. HSBC Debuts Tokenized Gold … Read more

Hong Kong Launches Second Phase of Its CBDC Pilot Program

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The Hong Kong Monetary Authority announced the launch of the second phase of the pilot of its CBDC, the digital Hong Kong dollar (e-HKD). This new phase will focus on furthering the research on already examined use cases for the currency, including programmability and tokenization, and adding new, not previously explored use cases. Hong Kong … Read more

Hong Kong Launches Project Ensemble, a Wholesale CBDC and Tokenized Deposits Initiative

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The government of Hong Kong has announced Project Ensemble, an initiative that will test the functionality of a wholesale central bank digital currency (WCBDC) and the movement of tokenized deposits. If there is “sufficient interest” in the project, the Hong Kong Monetary Authority (HKMA) will conduct a live issuance of the WCBDC in the future. … Read more