Government plans to supercharge the digital assets industry, with crypto dealing and custody regimes the icing on the cake for a holistic regulatory framework....more
7/2/2025
/ Blockchain ,
Chain of Custody ,
Cryptocurrency ,
Custody ,
Digital Assets ,
Financial Regulatory Reform ,
Hong Kong ,
Hong Kong Monetary Authority (HKMA) ,
Licensing Rules ,
Policy Statement ,
Regulatory Reform ,
Regulatory Requirements ,
Securities Regulation ,
Stablecoins ,
Tokenization
Taking effect in August 2025, the new legislation will bring issuers of fiat-referenced stablecoins into the regulatory perimeter. By Simon Hawkins, Adrian Fong, and Sam Maxson On 21 May 2025, the Legislative Council of Hong...more
7/2/2025
/ AML/CFT ,
Cryptoassets ,
Disclosure Requirements ,
Financial Institutions ,
Hong Kong ,
Hong Kong Monetary Authority (HKMA) ,
Licensing Rules ,
New Legislation ,
Regulatory Requirements ,
Risk Management ,
Stablecoins
The government will enact the new legislation to bring issuers of fiat-referencing stablecoins into the regulatory perimeter.
On 17 July 2024, the Financial Services and the Treasury Bureau and the Hong Kong Monetary...more
7/29/2024
/ Blockchain ,
Compliance ,
Consultation ,
Corporate Issuers ,
Court of Justice of the European Union (CJEU) ,
Cross-Border ,
Cryptoassets ,
EU ,
Hong Kong ,
Hong Kong Monetary Authority (HKMA) ,
Licensing Rules ,
Sandbox ,
Stablecoins
Regulator sets out its expectations for banks looking to provide digital asset custody services, and sell and distribute tokenised products.
On 20 February 2024, the Hong Kong Monetary Authority (HKMA) published two...more
3/5/2024
/ Banks ,
Consultation ,
Corporate Governance ,
Cryptocurrency ,
Custody ,
Digital Assets ,
Due Diligence ,
Financial Institutions ,
Financial Services Industry ,
Hong Kong ,
Hong Kong Monetary Authority (HKMA) ,
New Guidance ,
Risk Management ,
Token Sales ,
Tokenization
Implementation of Basel Committee cryptoassets standard to provide additional clarity for banks looking to engage in cryptoassets business.
On 7 February 2024, the Hong Kong Monetary Authority (HKMA) released a...more
2/26/2024
/ Asset Tokens ,
Banking Sector ,
Basel Committee on Banking Supervision (BCBS) ,
Consultation ,
Cryptoassets ,
Financial Services Industry ,
Hong Kong ,
Hong Kong Monetary Authority (HKMA) ,
Popular ,
Prudential Standards ,
Stablecoins ,
Treasury Regulations
The proposed regulatory framework would create substantive obligations on issuers of fiat-referencing stablecoins to safeguard the public.
On 27 December 2023, the Financial Services and the Treasury Bureau (FSTB) and...more
Revamped SFC and HKMA guidance applies to intermediaries that distribute products or provide dealing, advisory, and asset management services related to virtual assets.
On 20 October 2023, the Hong Kong Monetary...more
10/30/2023
/ Asset Management ,
Cryptoassets ,
FinTech ,
Hong Kong ,
Hong Kong Monetary Authority (HKMA) ,
Hong Kong Securities and Futures Commission (HKSFC) ,
Institutional Investors ,
Investment Adviser ,
Investors ,
Joint Policy Statements ,
New Guidance ,
Regulatory Authority ,
Retail Investors ,
Trading Platforms
The HKMA and the SFC permit relaxation of suitability and other regulatory requirements while dealing with high-net-worth and experienced investors.
On 28 July 2023, the Hong Kong Monetary Authority (HKMA) and the...more
8/21/2023
/ Accredited Investors ,
Code of Conduct ,
Financial Regulatory Agencies ,
Hong Kong ,
Hong Kong Monetary Authority (HKMA) ,
Hong Kong Securities and Futures Commission (HKSFC) ,
Investors ,
Joint Policy Statements ,
New Guidance ,
Professional Investors ,
Regulatory Authority
Regulators released comprehensive guidance to banks, intermediaries, and insurers on virtual asset-related activities.
Key Points:
..Banks and intermediaries looking to provide distribution, dealing, and advisory...more
The HKMA’s discussion paper seeks feedback on its proposed regulatory approach to stablecoins, with responses due by 31 March 2022.
On 12 January 2022, the Hong Kong Monetary Authority (HKMA), Hong Kong’s principal...more
Regulators propose new regulations for virtual asset exchanges and enhanced customer identity verification requirements, and launch an innovative commercial data interchange.
This blog post summarises key regulatory...more
12/9/2020
/ Anti-Money Laundering ,
Consultation ,
Data-Sharing ,
Financial Institutions ,
FinTech ,
Hong Kong ,
Hong Kong Monetary Authority (HKMA) ,
Hong Kong Securities and Futures Commission (HKSFC) ,
Regulatory Standards ,
Singapore ,
Trading Platforms ,
Verification Requirements ,
Virtual Currency
Regulators are consulting on how to enhance trust business regulation, introduce new omnibus legislation, and encourage best practices in sustainable banking.
This blog post summarises key regulatory developments in Hong...more
Regulators seek to expand market connectivity for wealth management products and enhance financial institutions’ environmental risk management.
This blog post summarises key regulatory developments in Hong Kong and...more
Regulators seek to address “rolling bad apples”, bank culture reform, and cryptocurrency derivatives.
This blog post summarises key regulatory developments that took place in Hong Kong and Singapore in May 2020, as...more
SFC outlines new regulatory framework for virtual asset trading platforms, HKMA highlights recent FinTech initiatives, and PBOC discusses China’s forthcoming central bank digital currency.
The fourth annual Hong Kong FinTech...more
11/7/2019
/ AML/CFT ,
Banking Sector ,
China ,
Digital Assets ,
Digital Currency ,
FinTech ,
Hong Kong ,
Hong Kong Monetary Authority (HKMA) ,
Hong Kong Securities and Futures Commission (HKSFC) ,
Payment Systems ,
Popular ,
Trading Platforms
The HKMA and SFC are jointly consulting on further enhancements to OTC derivatives reporting and clearing obligations.
Key Points:
..The HKMA and the SFC have proposed mandating the use of UTIs for the reporting...more