Sign up for theIndia Edition newsletter by Menaka Doshi – an insider’s guide to the emerging economic powerhouse, and the billionaires and businesses behind its rise, delivered weekly. Shares of India’s oldest stock exchange and a brokerage linked to Jane Street Group LLC fell after the US firm was temporarily barred from the nation’s securities…
China’s top leadership has pledged to curb aggressive price competition among businesses, aiming to accelerate efforts toward a unified national market to help boost domestic demand. Officials at a high-level economic meeting chaired by President Xi Jinping said they would crack down on “disorderly” low-price competition and phase out outdated industrial capacity, Xinhua News Agency…
Hong Kong’s government released its second major policy statement on digital assets, underlining its pledge to set the region up as a global hub for the industry and saying it plans to establish a regulatory regime that puts risk management and investor protection center stage. The framework will be overseen by the Securities and Futures…
The Hong Kong government issued the “Policy Statement 2.0” on Thursday for the Development of Digital Assets in the region. This policy statement builds upon the foundational measures outlined in the initial policy statement released in October 2022. The new policy aims to establish Hong Kong as a global hub for digital assets innovation, with…
Hong Kong’s government is in a rush to bring its stablecoin legislation into force. On 21 May the legislature approved the new law, and days later the Hong Kong Monetary Authority (HKMA) launched a consultation regarding the detailed rules, which runs until the end of June. Today the government published an ordinance signalling plans for…
Chinese shares traded in Hong Kong fell on Monday, as heightened US-China trade tensions jolted market sentiment. The Hang Seng China Enterprises Index dropped as much as 2%, after a gauge of Chinese stocks traded in the US fell 2.7% on Friday. The onshore market is closed for holiday on Monday. Source link
Today Hong Kong’s Legislative Council passed the Stablecoin Bill for fiat-referenced stablecoins. The legislation is expected to come into force later this year and is seen as a key pillar in Hong Kong’s desire to maintain and enhance its position as an international financial center. Last year the Hong Kong Monetary Authority (HKMA) launched a…