Hong Kong’s market regulator will soon begin inspection of investment banks to assess their roles as sponsors of listing candidates, in its latest effort to uphold the quality of new listings amid a booming market. The Securities and Futures Commission (SFC) said the inspection would focus on whether banks had complied with its January circular,…
Arrests in a HK$315 million (US$40 million) insider dealing case underscore Hong Kong’s commitment to upholding the integrity of its stock market amid a surge in new listings and share placements, according to industry players. The Independent Commission Against Corruption (ICAC) on Thursday said it had arrested eight people after joining forces with the Securities…
Bitcoin Asia kicked off in Hong Kong on Thursday, as Hong Kong strives to balance its goal of becoming a crypto hub while pushing forward a regulatory regime to mitigate financial risks. In its second edition, the conference featured experts who said that Hong Kong could become a hub for shaping the global digital asset…
Share prices of listed companies in related businesses have appreciated very significantly in both the US and Hong Kong. The trend appears unstoppable. US Treasury Secretary Scott Bessent expects the stablecoin market alone to grow tenfold over the next few years from US$200 billion to US$2 trillion. While cryptocurrencies present new opportunities for investors, it…
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…
In the days after Hong Kong passed a bill to regulate stablecoins on May 21, people in the industry celebrated the government’s forward-looking stance on the cryptocurrency assets, but its stringent requirements – similar to how it regulated other virtual assets – could be a double-edged sword in the near term. “Regular independent audits and…
Hong Kong lawmakers passed a law on Wednesday that establishes a regulatory regime for stablecoins, paving the way for issuers to obtain licences and sell the digital assets to the public. A stablecoin is a type of cryptocurrency that is pegged to a specific reserve asset, such as the US dollar or any fiat currency….
Hong Kong lawmakers passed a law on Wednesday that establishes a regulatory regime for stablecoins, paving the way for issuers to obtain licences and sell the digital assets to the public. A stablecoin is a type of cryptocurrency that is pegged to a specific reserve asset, such as the US dollar or any fiat currency….