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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.
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.
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.
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.
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.
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.
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.
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.
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.
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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