In a call to action for greater investment to accelerate the development of blockchain infrastructure, industry group Web3 Harbour and accounting firm PwC Hong Kong released the “Hong Kong Web3 Blueprint” on Monday, capitalising on recent momentum in the city. Highlighting the “transparency, security, and user empowerment” of decentralisation, the blueprint seeks to leverage what…
Well-known financial expert Chan Yan-chong only gives investment tips in face-to-face meetings, but the Hong Kong resident has seen many fraud messages purportedly sent by him to potential victims in a long-running online scam in the city and Singapore over the last few years. The City University adjunct professor and columnist said the situation improved…
More than a decade after Club Bboss was closed, a new nightspot has launched on the same site where the once-glamorous establishment operated for 28 years, with the goal of attracting tourists and young revellers eager for a glimpse of Hong Kong’s 1980s clubbing heyday. The new spot – known as Big Boss Generation (BBG)…
Beijing’s police authority has unveiled a plan for liquidating cryptocurrencies confiscated in criminal cases by selling them through licensed exchanges in Hong Kong, a move that could aid the southern city’s efforts to become a virtual asset hub. The municipal Public Security Bureau in Beijing said on Thursday that it has partnered with the China…
Hong Kong’s new stablecoin ordinance, which requires issuers of assets backed by fiat currency to be licensed, is set to take effect on August 1, according to a government announcement on Friday. The city’s Legislative Council passed the bill regulating stablecoins – a type of cryptocurrency backed by a reference asset, usually fiat currencies such…
Hong Kong made a forward-looking move on digital assets last month by passing a landmark law to regulate the market for stablecoins. Such a regime, which is well ahead of many jurisdictions in Asia and North America, will help bolster public confidence in this popular and fast-growing financial sector. It showcases the city’s crucial role…
Film producer and actor Raymond Wong Pak-ming plans to plead not guilty to insider trading charges brought by Hong Kong’s securities watchdog, according to his legal representative. Wong, 79, is being prosecuted by the Securities and Futures Commission for alleged insider trading concerning shares in Transmit Entertainment, a television series production company previously known as…
Syfe, a Singapore-based robo financial adviser and digital investment platform operator, has raised US$80 million in its Series C funding round, as the company pushes to expand its wealth management product offerings in Hong Kong. This round includes new all-equity financing worth US$53 million at a significantly higher valuation, according to the fintech start-up’s statement…
Hong Kong’s cash-for-residency scheme has yielded an investment of around HK$16.5 billion (US$2.1 billion) from 543 applicants over the past two years, with two-thirds of their capital directed into funds and the stock market. InvestHK, Hong Kong’s department of foreign direct investment, on Sunday released the latest figures of the New Capital Investment Entrant Scheme…
(Reuters) -Hong Kong launched a scheme on Tuesday to offer smoother listings for tech companies on its stock exchange, as it looks to capitalize on Chinese companies’ growing appetite to raise funds offshore. The new “technology enterprises channel” will make new listings easier for specialist technology and biotechnology firms, the bourse operator and Hong Kong’s…