Hong Kong has finalized its Basel crypto rules for banks, codifying standards in legislation while issuing non-statutory guidance that takes a more favorable approach to certain stablecoins and permissionless blockchains than the Basel Committee’s position. The territory is one of the few major jurisdictions implementing the Basel Committee for Banking Supervision (BCBS) crypto rules in…
By Hannah Lang and Elizabeth Howcroft NEW YORK/PARIS (Reuters) -A race by crypto companies to sell tokens pegged to stocks is raising alarm bells among traditional financial firms and regulatory experts who warn that the fast-growing novel products pose risks to investors and market stability. Buoyed by President Donald Trump‘s pro-crypto stance and his administration’s…
China’s securities regulator has told some brokerages to pause their real-world asset (RWA) tokenization businesses in Hong Kong, Reuters reported on Monday. At least two brokerages have been advised not to conduct any RWA business offshore, according to the report, citing sources familiar with the matter. The guidance is aimed at strengthening risk management among…
Crypto exchange Kraken and tokenized asset issuer Backed Finance are bringing tokenized equities to the BNB Chain , allowing trading with stocks like Apple and Nvidia around-the-clock on the network, the firms said on Wednesday. The move allows token versions of U.S. stocks such as Apple (AAPLx), Tesla (TSLAx) and S&P 500 ETF (SPYx) to…
A revolution is brewing in finance, promising to shatter the old walls of Wall Street and bring assets like stocks, bonds, and even skyscrapers onto the blockchain. It’s called tokenization, and it could fundamentally change how we own, trade, and think about value. To understand what this means for the average person, we broke down…
Robinhood is making a big statement to the financial services community. The trading platform said Monday it has launched US stock and ETF tokens in the European Union at an event in Cannes, France. European Robinhood customers will have access to more than 200 US stock and ETF tokens. Stock token holders will also receive…
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…
Hong Kong’s Financial Secretary Paul Chan outlined plans for a second digital asset innovation push in a blog post over the weekend. After the first policy statement in 2022 formalized its approach to cryptocurrencies, it is planning to announce its future strategy soon. It sounds like the focus could be on digital securities and tokenized…
Guotai Junan International (GTJAI) plans to issue various types of tokenized securities in Hong Kong. The company is a subsidiary of Guotai Haitong Group, China’s largest securities brokerage, which is State-backed. The company aims to use DLT for issuance, trading and custody as well as to enable greater personalization for wealth management products. Given its…