DeFi & Web3

HK LegCo Forms New Sub-committee on Web3 and Virtual Asset Growth

27/06/2024

The newly-formed committee will focus on developing regulatory frameworks, improvement of technology and investor safeguards.

Cloud & Infrastructure

BSP Delays Implementation of New Data Collection System

26/06/2024

The implementation of BSP’s new ITRS has been deferred to 2025 to allow banks to address “emerging technical and report-related concerns”.

Trading & Investment

HKIFA, KPMG Call for Further Enhancement of Cross-Border Schemes

26/06/2024

The report said that strengthening cross-border schemes and tax incentives would boost the asset management industry.

Structural Regulation

Mizuho Seeking Approval to Establish China Securities Unit

26/06/2024

The CSRC has officially accepted an application from Mizuho seeking the establishment of a securities company in China.

DeFi & Web3

Hong Kong FIs Keen on DeFi and Metaverse: AoF Reports

26/06/2024

HKMA said FIs are interested in exploring opportunities brought by DeFi and metaverse as they expand involvement in virtual assets.

Cryptocurrency

Korea Approves Enforcement Decree for New Virtual Assets Law

26/06/2024

The enforcement decree mandates requirements on the safe storage of virtual assets and regulates unfair trading activities.

Trading & Investment

Thailand Revises Rules on Short Selling, Algorithmic Trading

26/06/2024

The revised rules introduce the uptick rule and a registration requirement for HFT investors, among other measures, effective from 1 July.

KYC & CDD

BSP Issues New Guidance on Beneficial Ownership Due Diligence

25/06/2024

The paper is intended to help FIs in benchmarking best practices and calibrating their policies, systems, processes and controls.

Conduct, Culture & Accountability

Hong Kong Revises Banking Code of Practice for Marketing Calls

25/06/2024

The code sets out limits on the frequency of person-to-person marketing and confines the hours of making such calls, among other revisions.