Swiss investment banking company UBS Group AG has joined other banks, like HSBC Holdings Plc, in permitting Hong Kong-based clients to trade crypto-linked exchange-traded funds (ETFs). This decision aligns with Hong Kong’s efforts to become a hub for digital assets. Wealthy clients will be given access to three crypto-futures ETFs on UBS’s Hong Kong platform […]
Hong Kong, a historic financial hub, shifted focus to crypto retail, departing from its traditional money exchange reputation. The city is discussing involving retail investors in a crypto world through spot exchange-traded funds. This act is also in line with the aspirations of Hong Kong seeking to affirm its status as a vibrant crypto center. […]
Zodia, an institutional cryptocurrency custody platform co-owned by British bank Standard Chartered, the financial firm Northern Trust, and Japanese SBI Holdings, has launched its services in Hong Kong. According to a CNBC report on Oct. 29, Zodia CEO Julian Sawyer said the platform is expanding its services in Hong Kong in response to the growing […]
Hong Kong authorities are intensifying their crackdown on the cryptocurrency market following the arrest of six individuals in connection with allegations of fraud at an unlicensed crypto exchange, JPEX. Hong Kong Vows to Tighten Crypto Asset Regulations As reported by the Associated Press, Hong Kong’s leader announced on Tuesday that the territory will be implementing stricter regulations […]
Hong Kong authorities detained an influential individual suspected of promoting an unregistered crypto exchange and participating in JPEX trading. Moreover, law enforcement officials have revealed that they received more than 83 complaints concerning JPEX, leading to a financial loss of approximately HK$34 million up until now. Hong Kong police have arrested a Hong Kong internet […]
The Hong Kong Monetary Authority (HKMA) has issued a cautionary statement. It alerts the public to the potential violation of local banking laws by certain crypto asset businesses that present themselves as banks and employ banking terminology. In a recent press release, the HKMA emphasized that using specific banking terms could mislead individuals. These terms […]
The Hong Kong Securities and Futures Commission (SFC) has warned the crypto assets exchange known as “JPEX.” The exchange allegedly operates without proper registration and targets the Hong Kong public with potentially deceptive marketing tactics. The SFC had serious concerns regarding JPEX’s activities. Specifically, they were worried about their use of social media influencers and virtual […]
On 30 August, the Hong Kong Securities and Futures Commission (SFC) granted preliminary approval to the local arm of SEBA Bank, a Swiss-based crypto-friendly bank. The announcement comes amid a growing number of crypto projects in Hong Kong, showing the favorable environment for crypto assets in the financial hub. SEBA Hong Kong said its in-principle […]