Digital Assets

Cryptocurrency

Taiwan to Implement New VASP Registration System on 30 November

By Editors | 03/11/2024

The FSC is also drafting a new special law for virtual assets, covering areas such as licensing, consumer protection, capital requirements, and trading behaviour.

Custody & Infrastructure

CSRC Grants Fund Custody Licence to HSBC’s China Unit

By Editors | 03/11/2024

HSBC is the fifth foreign bank to be granted a fund custody licence, after StanChart, Citibank, Deutsche Bank and BNP Paribas.

CBDCs

BIS Announces Decision to Exit mBridge CBDC Project

By Editors | 03/11/2024

Agustín Carstens said BIS is not leaving mBridge because of political considerations but instead because it is “at a level where the partners can carry it on by themselves.”

Cryptocurrency

MAS Grants In-Principle Approval to Crypto Firm Gemini

By Nithya Subramanian | 01/11/2024

The licence will allow Gemini to provide cross-border money transfers and digital payment token services in Singapore.

Trading & Investment

HKEX to Open Office in Saudi Arabia Next Year

By Sanday Chongo Kabange | 31/10/2024

The SFC separately published guidance explaining how Hong Kong asset managers can offer their funds in the Saudi Arabian market.

Cryptocurrency

Hong Kong’s ZA Bank Starts Trials for New Crypto Trading Service

By Sanday Chongo Kabange | 30/10/2024

ZA Bank CEO Ronald Iu said the trial demonstrates the digital bank’s commitment to supporting the wider development of virtual assets in Hong Kong.

AI Risk & Governance

MAS Establishes New Entity to Drive Next Phase of FinTech Growth

By Editors | 30/10/2024

MAS said the “Global Finance & Technology Network” will drive greater synergies within the global finance and technology communities for innovations in financial services.

Cryptocurrency

BSP Grants Virtual Assets Authorisation to GoTyme Bank

By Sanday Chongo Kabange | 30/10/2024

GoTyme is only the second bank to be given authorisation to explore the potential introduction of digital asset services for customers.

Cryptocurrency

Hong Kong Considering Tax Breaks to Promote Virtual Asset Market

By Manesh Samtani | 30/10/2024

Christopher Hui said the government will introduce further tax concessions for fund managers and family offices to promote the development of certain asset classes, including virtual assets.