Hong Kong to regulate digital asset exchanges
Hong Kong’s SFC has asked the public for opinions on whether centralized digital currency exchanges in the country should be allowed to serve retail customers and what regulations to implement.
Hong Kong’s SFC has asked the public for opinions on whether centralized digital currency exchanges in the country should be allowed to serve retail customers and what regulations to implement.
The Hong Kong-based firm is merging with 8i Enterprises Acquisition Group as part of its plans to go public in September.
The Hong Kong government is reportedly exploring working with Chinese authorities to incorporate the digital yuan in wholesale and cross-border settlement.
Apart from its welcoming stance on digital currencies, Web3 startups looking to set up tents in Hong Kong also consider the region's property situation and the state of cross-border data flow.
The Hong Kong Monetary Authority and Bank of Thailand are ready to further their research together after signing a memorandum of understanding,.
OKX has applied for a license in Hong Kong as it announced a new office in the city; it also plans to open a new office in Australia, although it is yet to secure a license.
The government of this special administrative region of China is now actively considering promotional and administrative measures to facilitate the immigration of what it is terming as ‘quality people’ from all over the world.
ZA Bank CEO Ronald Iu disclosed that the digital bank plans to offer settlement services in the yuan, U.S. dollars, and Hong Kong dollars and is currently working with OSL and Hashkey.
Stan Group has partnered with security token insurance provider Liquefy “to jointly explore the business opportunities of real estate tokenization.”
The ADB has voiced its support on AI adoption, with plans to use the tech in improving gov't processes, economics and development operations, but remains mum on utilizing it in finance.
Hong Kong's financial secretary envisions economic growth driven by Web 3 innovations like NFTs and metaverse, urging businesses to adopt blockchain for transformation.
Nikkei reports that DeCurret has been unable to compete with major players like bitFlyer and that the holding company will now focus on digital assets.