HONG KONG MONETARY AUTHORITY

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    Crypto / Digital Assets

    Hong Kong Doubles Down on Pledge to Develop Web3

    By Editors | 13/04/2023

    Financial Secretary Paul Chan said crypto market volatility provides an opportunity for Web3 development. SFC official said DeFi platforms require licensing.

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    AML / KYC

    Hong Kong Announces New Measures to Combat Phone Scams

    By Editors | 12/04/2023

    Implementation of an “SMS sender name” registration system will begin in the banking industry by the end of this year.

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    Market Infrastructure

    Final Rules for Swap Connect Agreed by Authorities – Report

    By Manesh Samtani | 10/04/2023

    Swap Connect could start trading by June if not sooner. Mainland treasury bond futures may also become accessible from Hong Kong.

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    Fintech / Regtech

    APAC Regulators Form New Forum to Address Cloud Risk

    By Sanday Chongo Kabange | 06/04/2023

    MAS assistant managing director Vincent Loy said the twice-a-year forum will help APAC regulators and CSPs ensure greater resilience of cloud adoption in the financial sector.

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    AML / KYC

    ICAC Concludes First Training Day for Banks on Corruption Risk

    By Sanday Chongo Kabange | 05/04/2023

    Acting ICAC Commissioner Ricky Yau said the training programme is aimed at enhancing banking sector standards on preventing corruption risk.

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    AML / KYC

    HKMA, SFC to Host Discussions Between Crypto Firms & Banks

    By Editors | 30/03/2023

    A roundtable will take place on 28 April at the HKMA to facilitate dialogue and experience sharing regarding opening and maintaining bank accounts.

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    AML / KYC

    Hong Kong ICAC Issues Corruption Prevention Guide for Banks

    By Sanday Chongo Kabange | 27/03/2023

    The HKMA said banks operating in Hong Kong must use and make reference to the new corruption prevention guide.

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    Capital / Liquidity

    Industry Welcomes Regulator Commitments to Prioritise Bondholders

    By Manesh Samtani | 24/03/2023

    Regulators respond to Swiss decision to wipe out Credit Suisse bondholders by pledging to respect the bank rescue hierarchy in a crisis.

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    Fintech / Regtech

    Hong Kong’s Fusion Bank Launches Business Banking Services

    By Sanday Chongo Kabange | 23/03/2023

    Fusion Bank promises SMEs a “hassle-free” account opening experience and a six month exemption on fees for new accounts.

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    Crypto / Digital Assets

    Crypto Firms Looking to Set Up in Hong Kong: Christopher Hui

    By Editors | 22/03/2023

    Between October and February, 80 virtual asset-related companies have expressed interest in establishing a presence in Hong Kong.

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