
Digital currency firm Amber reduces employee count in Hong Kong: report
Amber terminated the contracts of 40 individuals across several departments in its Hong Kong office, including risk management, IT, and the entire audit and compliance unit.
Amber terminated the contracts of 40 individuals across several departments in its Hong Kong office, including risk management, IT, and the entire audit and compliance unit.
Sam Park, CEO of Samsung Asset Management in Hong Kong, expressed optimism that the city-state will soon give the green light for spot-based ETFs, with its goal of "developing a crypto hub."
The new trading restriction will take effect once the new licensing regime for digital assets passes in June.
Chan noted that under the policies of "grabbing" enterprises and talents, the gov't is actively reducing the tax burden on fintech and digital asset firms interested in setting up shops in Hong Kong.
The wider virtual currency ecosystem could gain from converting the planned CBDC to a stablecoin, according to Wu Jeizhuang, member of Hong Kong’s Legislative Council.
The application for the new licensing requirement is expected to start on June 1, but the Securities and Futures Commission has yet to clarify its plan to expand the rules to include retail investors.
Police in Hong Kong suspect that the AAX's scheduled "system maintenance" that led to funds being unable to be withdrawn was a means to defraud customers of their digital assets.
The Securities and Futures Commission clarified that it doesn’t regulate the industry and urged caution from investors, reminding them they risk losing all their money amid FTX collapse.
Hong Kong’s lawmakers passed an amendment to the city’s AML laws that takes effect on July 1, bringing VASPs under the purview of the SFC for the first time.
Eddie Yue of the HKMA says reducing risks associated with digital assets can be achieved by regulating off-chain activities, while BOK's Rhee is skeptical of whether these assets truly have benefits.
Bitkub CEO Jirayut Srupsrisopa reveals that part of the allure of Hong Kong is the presence of a crystal clear regulatory process and a highly liquid stock exchange.
Hong Kong’s Financial Secretary Paul Chan says the FTX crash only shows that the digital asset industry needs more transparency and regulations.