Global Regulation
Quantum Updates 54 | July 2025
On 9 July 2025, the United States Securities and Exchange Commission (US SEC) published the Notice of Filing of Amendment No. 2 to Proposed Rule Change to Amend the Bitwise Bitcoin ETF Trust and the Bitwise Ethereum ETF in Order to Permit In-Kind Creations and Redemptions, submitted by NYSE Arca, Inc. The amendment seeks to allow in-kind creation and redemption of ETF shares in both the Bitwise Bitcoin ETF and Bitwise Ethereum ETF, as an alternative to the existing cash-based model.
Quantum Updates 53 | July 2025
On 27 June 2025, the Hong Kong Financial Services and the Treasury Bureau (FSTB) and the Hong Kong Securities and Futures Commission (HK SFC) jointly published two consultation papers proposing statutory licensing regimes for virtual asset dealers and custodians, marking a major regulatory development in the SAR’s digital asset agenda. These consultations follow the release of Policy Statement 2.0 on the Development of Digital Assets in Hong Kong and support the “Access” pillar of the SFC’s ASPIRe roadmap.
Quantum Updates 52 | July 2025
On 3 July 2025, the FINMA opened a public consultation on two new ordinances: the RDO-FINMA and the LiqO-FINMA.
Quantum Updates 51 | June 2025
On 25 June 2025, US SEC announced an extension of the compliance deadline for broker-dealers subject to its amended Rule 15c3-3.
Quantum Updates 50 | June 2025
On 30 May 2025, the MAS launched the full licensing and compliance regime for DTSPs under the Singapore Financial Services and Markets Act 2022.
Quantum Updates 49 | June 2025
On 10 June 2025, the US SEC issued an order instituting proceedings to assess whether to approve or disapprove Nasdaq’s proposed rule change.
Quantum Updates 48 | June 2025
On 2 June 2025, the United States Securities and Exchange Commission issued an Order instituting proceedings to assess whether to approve or disapprove a proposed rule change by Cboe BZX Exchange, Inc.
Quantum Updates 47 | May 2025
On 28 May 2025, the United States Securities and Exchange Commission published a Notice of Designation of Longer Period to extend its review timeline on a proposed rule change by NYSE Arca, Inc.
Quantum Updates 46 | May 2025
On 21 May 2025, the Government of the Hong Kong Special Administrative Region announced the passage of the Hong Kong Stablecoins Bill by the Legislative Council, officially enacting the Hong Kong Stablecoins Ordinance.
Quantum Updates 45 | May 2025
On 1 April 2025, the Swiss Financial Market Supervisory Authority implemented a structural reorganisation to strenthen its risk-based supervision across banking, insurance, and asset management sectors.
Quantum Updates 44 | May 2025
On 29 April 2025, the United Kingdom Government along with UK Financial Conduct Authority (UK FCA) and UK Treasury Department, in furtherance of the UK Crypto Roadmap, completed a milestone shift in Crypto asset regulation.
Quantum Updates 43 | May 2025
On 8 April 2025, the United Kingdom Financial Conduct Authority (UK FCA) launched its Pre-Application Support Service (PASS).