Tencent secures license to build virtual bank
Tencent has received a new license from the Hong Kong Securities and Futures Commission to create a virtual bank powered by blockchain technology.
Latest Hong Kong News
This week in tech: Regulation takes center stage as China delves further into blockchain
China is advancing in blockchain adoption, the U.S. is moving towards regulation, Hong Kong and Turkey are moving closer to launching CBDCs
Hong Kong, Thailand to release joint CBDC report by Q1 2020
Hong Kong and Thailand have been conducting research on a state-backed digital currency, with the report coming by Q1 next year.
North Korea suspected of laundering money via HK blockchain firm
North Korea has reportedly been laundering money through a blockchain company it set up in Hong Kong, in a move designed to evade international sanctions.
Crypto exchanges to be treated as brokers under Hong Kong’s new framework
The Hong Kong Securities and Futures Commission has issued the new rules, which will enable operators to become licensed by the regulator for the first time.
Crypto funds in Hong Kong fail to impress regulators
So far, there’s only one firm that could be publicly identified as having received approval, namely Diginex which manages a “fund of funds” product featuring crypto assets.
New Hong Kong securities regulations target crypto fund managers
The regulations have stipulated the expected conduct of fund managers and are expected to spur the growth of the institutional crypto trading market in Hong Kong.
Bitpay under fire for allegedly freezing Hong Kong crypto donations
Crypto payment processor BitPay has been slammed by press reports in Hong Kong amid claims the firm blocked crypto donations to Hong Kong for a number of weeks.
Crypto publicity stunt ends in suspended prison sentence
Wong Ching-kit, the crypto playboy finally admitted his publicity stunt and has been given a ten-day sentence.
‘Shop king’ property tycoon eyes tokenized real estate in Hong Kong
Stan Group has partnered with security token insurance provider Liquefy “to jointly explore the business opportunities of real estate tokenization.”
Hong Kong sees first regulated asset managers from Diginex
Diginex now has the license to provide a new product for Hong Kong investors, and expect to grow exponentially.
Hong Kong’s SFC still sees fraud in crypto exchanges
The Securities and Futures Commission of Hong Kong believes the exchanges are still rampant with fraud, and they’re trying to find a way to get on top of it.