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.
For now, only BTC and ETH futures can be listed, but the Securities and Futures Commission states that it is mulling over a potential expansion of the scope of virtual asset futures.
In an effort to regain retail traders' trust, Hong Kong has imposed a mandatory licensing program for digital asset service providers and a planned listing of large-cap assets.
Project Aurum highlighted a technological stack to explore the viability of wholesale and retail CBDCs, utilizing two different tokens—intermediated CBDCs and CBDC-backed stablecoins.
Hong Kong is moving closer to its goal of becoming an international virtual assets center as it opens its gates to retail investors through digital currency exchanges.
Details of the deal's valuation were not made public, but there is speculation that the amount would be below market value as Huobi has endured a difficult time in recent months.
Eddie Yue, head of the HKMA, noted that the trials would involve commercial banks and are scheduled to begin sometime in the fourth quarter.
A month-long CBDC pilot program involving Hong Kong, Thailand, China, and the United Arab Emirates ends with millions in cross-border and foreign exchange transactions made, signaling a new track for economic growth.
The HKMA has not yet issued a time frame, but experts believe that a full launch could take up to two years due to the amendments the legislature will have to make to give the CBDC legal backing.
Hong Kong-listed Huobi Technologies wants to change its name to “New Huo Technology Holdings Limited” for a fresh corporate image, with voting set for October 13.
