No Need for Legislation Against Bitcoin Trading in Hong Kong?
An official from the Hong Kong government confirmed that leaders don't see the need to come up with legislation to ban bitcoin trading in the country. This comes after news on the MyCoin investment scam prompted a thorough investigation and calls for stricter regulation in the cryptocurrency industry. However, Secretary for Financial Services and the Treasury KC Chan recently made a statement clarifying that bitcoin trading does not pose a significant threat to Hong Kong's financial markets for now. He added that the cryptocurrency is limited in scope and that it hasn't been widely....
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A senior Hong Kong official has indicated that the government does not see a need for legislation that would regulate or ban bitcoin activities. The statement by Secretary for Financial Services and the Treasury Professor KC Chan comes in response to a question submitted during a meeting of the Legislative Council of Hong Kong by council member Leung Yiu-chung. Leung requested an update on the investigation into the MyCoin bitcoin investment scam as well as clarity on whether officials intend to regulate bitcoin activities more actively, according to a press release from the Hong Kong....
New legislation tailored to regulate the crypto space in Hong Kong aims to implement a licensing regime for crypto service providers. The respective changes to the region’s anti-money laundering (AML) rules have been submitted to its legislature while a recently published report examines relevant threats.
Hong Kong Lawmakers to Review Bill Aligning Crypto Sector With Financial Industry
Amendments designed to govern the cryptocurrency market in Hong Kong have been presented to the members of the Legislative Council of China’s special administrative region. The....
Hong Kong is one of the most important financial centres of the world, but with limited space and high demand, property in Hong Kong has always been in short supply. Simplifying home ownership in Hong Kong is therefore a prime concern for the Hong Kong government, which has undertaken a number of measures in the last few years to make home ownership both affordable and easy. The Nikkei Asian Review reported that as recently as early November, the Hong Kong government raised stamp duty to cool down the boiling Hong Kong housing market. This measure of the government was mainly aimed at....
Cryptocurrency regulation in Hong Kong is undergoing changes. The Securities and Futures Commission (SFC) is reportedly introducing a new licensing system to regulate all crypto exchanges operating in Hong Kong. Hong Kong’s New Crypto Regulation The CEO of the SFC, Ashley Alder, talked about implementing a new cryptocurrency regulatory framework at Hong Kong Fintech Week on Tuesday. All cryptocurrency trading platforms operating in Hong Kong or targeting local investors will be required to apply for a license with the SFC, Radio Television Hong Kong (RTHK) reported. “Later....
SEBA Bank, a Switzerland-based crypto-focused bank, has secured an in-principal license to offer crypto services in Hong Kong. SEBA’s Hong Kong unit announced this achievement on August 30. The Securities and Futures Commission (SFC) license allows the bank to offer over-the-counter crypto derivatives and other products in Hong Kong. Also, SEBA Hong Kong said it […]