The HKMA has unveiled a new DLT proposition to support the adoption of the technology by banks The Supervisory Incubator for DLT presented on January 8 is intended to encourage the use of DLT and address its’ risks. The Incubator focuses on helping banks to safely introduce DLT into their ... Read more
Hong Kong’s legislative discussions have taken a bold turn toward cryptocurrency adoption. Johnny Ng, a member of the Legislative Council, proposed including Bitcoin in the region’s fiscal reserves under the “one country, two systems” framework. He suggests this move could stimulate Hong Kong’s cryptocurrency sector, attracting global talent and funds ... Read more
Crypto.com, a cryptocurrency exchange, has announced a strategic partnership with Deutsche Bank in a move that will see the furtherance of corporate banking services in the Asia-Pacific (APAC) region. The collaboration will grant businesses in key markets such as Singapore, Australia, and Hong Kong access to Deutsche Bank’s expertise in ... Read more
Hong Kong’s central bank, the Hong Kong Monetary Authority (HKMA), has made its financial markets one notch more innovative with the implementation of the Digital Bond Grant Scheme (DBGS). As announced on November 28, this scheme, which targets subsidizing the issuance costs of tokenized bonds, will help strengthen the city’s ... Read more
Hong Kong is continuing to strengthen its position as a financial technology hub with new measures that will promote investment in digital assets and enhance the development of AI. According to a recent report, Christopher Hui, the Secretary for Financial Services and the Treasury, stated that tax exemptions will be ... Read more
The Hong Kong Police Force (HKPF) has effectively disrupted a major cross-border fraud syndicate from a factory style premises in an industrial building in Hong Kong. The group, including four women and nine men, used romance scams to trick victims into investing in fraudulent cryptocurrency projects and had reportedly netted ... Read more
The Western District Police in Hong Kong have recently dismantled a large-scale crypto fraud operation and recovered scams of NT$12 million. Sticking Wind,” a month-long operation, led to the identification of 41 types of fraud, including fraudulent cryptocurrency exchanges, and the apprehension of 53 suspects. Among the identified frauds was ... Read more
Hong Kong is developing a new tactic to supervise over-the-counter (OTC) virtual-asset trading, which could give the SFC one more job, according to Secretary for Commerce & Economic Development Edward Yau. The move is the latest part of the city’s attempts to tighten control and oversight over an increasingly volatile ... Read more
