The Hong Kong Monetary Authority (HKMA) has circulated plans for easing the capital requirements for banks holding cryptocurrencies, local financial news outlet Caixin reported on Wednesday. The central bank released a draft paper for public comment with a view to clarifying the guidance on capital regulation for crypto assets, which will be implemented early next … Read more
Another Hong Kong company is adding crypto to its treasury, but it wants to do more than passively hold it. IVD Medical Holdings has purchased $19 million (HK$149 million) of ether (ETH), positioning the asset at the center of its real-world asset tokenization strategy. The company is building ivd.xyz, a platform for tokenizing pharmaceutical intellectual … Read more
Hong Kong is actively accelerating efforts to give its fiat currency, the Hong Kong Dollar (HKD), a blockchain revamp. The special administrative region (SAR) of China has launched its e-HKD central bank digital currency (CBDC) into the second elaborate phase of trials. Following the footsteps of the Reserve Bank of India, the authorities in Hong … Read more
Hong Kong’s ZA Bank has announced the launch of crypto trading services, enabling retail users to trade assets like Bitcoin directly. Claiming to be Asia’s first digital lender to offer such a service, ZA Bank now allows users to buy and sell Bitcoin and Ether through fiat currencies HKD and USD via its app. To … Read more
Hong Kong is moving swiftly to regulate stablecoins, signalling their potential integration into the region’s financial systems. Regulators have drafted a ‘Stablecoins Bill’ that sets forth mandates and restrictions for stablecoin issuers and advertisers. The bill outlines the necessary steps to ensure consumer protection for individuals engaging with stablecoins—crypto assets pegged to reserved assets, such … Read more