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Standard Chartered's Virtual Bank, Mox Will Usher in New Era of Banking for Hong Kong

Mox Bank Limited, or Mox, the new virtual bank in Hong Kong recently launched by Standard Chartered, has now been made available to select customers via invitation in an external pilot. The aim of the pilot is to prepare the state-of-art virtual bank for the public launch scheduled for later this year. According to the official … Continue reading Standard Chartered's Virtual Bank, Mox Will Usher in New Era of Banking for Hong Kong

PwC Expert's Take: What Are the 3 Grey Areas to Crypto Taxation in Hong Kong?

The Inland Revenue Department (IRD) of Hong Kong took a step further to provide clarity in taxing digital assets. In the recent press release titled “LCQ20: Regulation of virtual asset investment activities”, James Lau, the Secretary for Financial Services and the Treasury answered the queries raised by the Hon Wu Chi-wai on taxation of virtual … Continue reading PwC Expert's Take: What Are the 3 Grey Areas to Crypto Taxation in Hong Kong?

First Crypto Fund Approved by Hong Kong’s Financial Regulator Aims to Pass $100M in its First Year

Hong Kong’s first approved cryptocurrency fund, Arrano Capital, the blockchain arm of Venture Smart Asia announced its rollout of a new Bitcoin fund in Hong Kong. The Securities and Futures Commission (SFC), Hong Kong’s financial regulator announced its guidelines for crypto-related funds in October 2018. In its statement, the SFC stated that all licensed portfolio … Continue reading First Crypto Fund Approved by Hong Kong’s Financial Regulator Aims to Pass $100M in its First Year

Why Hong Kong is Still Not Ready to Become Asia's Leader in Crypto and Blockchain

Hong Kong’s financial regulator, the Securities and Futures Commission (SFC) has been seen slowly embracing cryptocurrencies, or as it refers to as virtual assets in the past years. The special administrative region’s financial regulator has set out regulations for Bitcoin and other cryptocurrency exchanges in November last year and has published a new regulatory approach … Continue reading Why Hong Kong is Still Not Ready to Become Asia's Leader in Crypto and Blockchain

Chinese Government to Consider Cross-Border East-Asian Stablecoin for Hong Kong Amid Implementing Controversial National Security Law

Chinese officials are to consider a cross-border Asian stablecoin in Hong Kong, to facilitate a cross-border payment network between three Asian countries, and four currencies – China, Japan, South Korea, and Hong Kong. The world’s second-largest economy is aiming to build Hong Kong into an international financial center in the digital economy era. At China’s … Continue reading Chinese Government to Consider Cross-Border East-Asian Stablecoin for Hong Kong Amid Implementing Controversial National Security Law

Hong Kong Vending Machines Accept Bitcoin Cash not Bitcoin Boasts Roger Ver

Bitcoin Cash (BCH) advocate Roger Ver recently took to Twitter to share a video of a Hong Kong vending machine which accepts BCH and Ether as payment options but not Bitcoin. In the video, Ver pointed to Bitcoin’s high fees and congested network as the reason it was likely omitted from the payment options. However, … Continue reading Hong Kong Vending Machines Accept Bitcoin Cash not Bitcoin Boasts Roger Ver

China Plans to Incorporate Blockchain in Attempt for Hainan to Overtake Hong Kong on International Trade

The Chinese government is planning to make the province of Hainan into a free trade port, focusing on facilitating free trade, investment, and cross-border capital flows. The plan encourages government institutions to use blockchain and other emerging technologies to improve government functions. Chinese President Xi Jinping has previously announced the decision to develop … Continue reading China Plans to Incorporate Blockchain in Attempt for Hainan to Overtake Hong Kong on International Trade

Hong Kong Fintechs Embrace Blockchain and DLT

Blockchain firms make up nearly 40% of all new Hong Kong financial technology (fintech) companies launched in 2019. Nearly 40% of new fintech firms to launch in Hong Kong over the past year are operating in the blockchain sector. According to Hong Kong’s Financial Services and Treasury Bureau (FSTB), 39% of new fintech firms, established … Continue reading Hong Kong Fintechs Embrace Blockchain and DLT

McAfee's Ghostcoin Gets Backing as Payment in Hong Kong

Days after McAfee’s Ghostcoin confirmed its partnership with ZelaaPayAE, a payment startup based in the UAE, it was announced that the privacy coin would be expanding into the Hong Kong market. The announcement confirmed in a Twitter post, will see Ghostcoin’s adoption and integration by 60 vending machines in Hong Kong including those at Disneyland. … Continue reading McAfee's Ghostcoin Gets Backing as Payment in Hong Kong

Alibaba’s Ant Group Set to be 2020’s Top IPOs in Hong Kong and Shanghai

Ant Group, formerly known as Ant Financial has announced its intentions of launching an initial public offering (IPO) that would be featured both on the Shanghai Stock Exchange’s STAR board and the Stock Exchange of Hong Kong (HKEX/ SEHK). The Inner Scoop on Ant Group’s IPO The STAR board focuses predominantly on technology companies and hopes to rival Nasdaq. A senior executive of Ant Group disclosed anonymously … Continue reading Alibaba’s Ant Group Set to be 2020’s Top IPOs in Hong Kong and Shanghai