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IRS broadens the classification of crypto, Ripple gets another point in a case against SEC, and Hong Kong considers its own regulatory framework in opposition to China. Go to Source Powered by WPeMatico
Despite the ongoing bear market, family offices and high-net-worth individuals in Hong Kong and Singapore are keen to invest in crypto or already have holdings. Go to Source Powered by WPeMatico
Financial authorities in Hong Kong have unveiled a prototype of the Chinese autonomous territory’s own central bank digital currency called Project Aurum. The two-tier platform features a wholesale interbank and a retail e-wallet system, participants revealed. Hong Kong to Issue Retail Tokens and Stablecoins as Part of Project Aurum A collaboration between the BIS Innovation … Read more
The Hong Kong Monetary Authority and the BIS Innovation Hub cooperated on a unique CBDC design that reflects the realities of money issuing in the special administrative region. Go to Source Powered by WPeMatico
Hong Kong’s securities regulator wants to allow retail investors to invest directly in virtual assets and to reconsider current crypto trading requirements. Go to Source Powered by WPeMatico
The director of licensing and head of the fintech unit of Hong Kong’s Securities and Futures Commission (SFC) has confirmed that the regulator is considering allowing retail investors to invest directly in crypto assets. “We’ve had four years of experience in regulating this industry … We think that this may be actually a good time … Read more
According to a report from a pro-democracy group in Hong Kong, Paypal HK has reportedly stopped processing payments for the League of Social Democrats (LSD). The pro-democracy group said that they were “stunned” to hear the news, and they now have “one less way [to collect donations].” Paypal Reportedly Stops Servicing Hong Kong’s League of … Read more
The monetary authorities of four jurisdictions in Asia have carried out tests with international settlements using state-issued digital currencies. Cross-border payments and foreign exchange transactions totaling over $22 million were made as part of the pilot project with the participation of the Bank for International Settlements. Asian Central Banks Pilot Real-Value International Settlements With Digital … Read more
Following the Bank of England explaining that it would be meddling in U.K. bond markets and the Bank of Japan defending the yen in the foreign exchange market last week, the Hong Kong Monetary Authority (HKMA) revealed it intervened in forex markets on Wednesday. Hong Kong’s central bank detailed that it interfered in forex markets … Read more
Over $12 million in value was issued in the pilot with commercial and central banks in Hong Kong, Thailand, the UAE and China taking part. Go to Source Powered by WPeMatico
