The SFC sent letters to seven cryptocurrency exchanges in Hong Kong notifying them that they should not trade cryptocurrencies which are securities as defined under the SFO unless they are licensed by the SFC.
A key issue surrounding cryptocurrencies is whether they are regarded as securities and thus subject to an extensive regulatory regime. On 5 September 2017, Hong Kong’s SFC issued a statement on ICOs.
SFC Circular on Regulation of Bitcoin Futures and Cryptocurrency Investment Products and Related Risks
The Securities and Futures Commission (SFC) issued a Circular on 11 December 2017 stating that it regards Bitcoin futures contracts traded on U.S. futures and commodities exchanges (Bitcoin Futures) as “futures contracts” for the purposes of the Securities…
New listings on the Hong Kong Stock Exchange (the Exchange) in 2017 hit an all-time high of 174 companies, while its market capitalisation reached HK$33,998.8 billion on the year’s final trading day, its highest level ever, according to the Exchange’s latest data published 9 January 2018.
European Chamber of Commerce Publishes Position Paper on Hong Kong Fintech including Key Recommendations on Fintech Development and Encouraging Collaboration Between the European Commission and HK Government
The HKMA has launched a Fintech Supervisory Sandbox (FSS) to allow banks to pilot trials of Fintech and other technological initiatives in a controlled environment before they are launched on a fuller scale.
The Hong Kong Budget 2016-17 has a number of proposals of interest to Hong Kong’s financial services industry