Race For Crypto Licenses Heats Up: Hong Kong Promises More Approvals Soon
Hong Kong’s Securities and Futures Commission (SFC) has announced plans to issue more licenses for crypto asset exchanges by the end of 2024. This decision comes after a five-month evaluation period, during which only three platforms received full licenses and 11 held provisional licenses, raising initial concerns about the possibility of further approvals. Related Reading: […]
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Hong Kong financial authorities have announced that they will soon grant the first, limited batch of stablecoin provider licenses as the review process for applications is almost completed. Related Reading: Cardano Founder Says He’ll Sell A Blackhawk And Lambos, Mothball His Jet HKMA To Grant Limited Stablecoin Licenses Soon On Monday, the Hong Kong Monetary […]
A recent Bloomberg report has revealed that in 2024, Singapore was able to solidify its position as a leading digital asset hub in Asia, surpassing Hong Kong in “regulatory efficiency and appeal” to crypto firms. Particularly, the city-state issued 13 crypto licenses this year, more than double the number granted in 2023. Prominent global players […]
Cryptocurrency regulation in Hong Kong is undergoing changes. The Securities and Futures Commission (SFC) is reportedly introducing a new licensing system to regulate all crypto exchanges operating in Hong Kong. Hong Kong’s New Crypto Regulation The CEO of the SFC, Ashley Alder, talked about implementing a new cryptocurrency regulatory framework at Hong Kong Fintech Week on Tuesday. All cryptocurrency trading platforms operating in Hong Kong or targeting local investors will be required to apply for a license with the SFC, Radio Television Hong Kong (RTHK) reported. “Later....
In a recent development, the stablecoin issuers Circle and Paxos have received approvals in Singapore. According to the report, the Monetary Authority of Singapore (MAS) signed the licenses for the firms. Regulatory licenses and approvals have become mandatory in almost all jurisdictions for crypto-related companies. Most countries are using regulatory approvals as a measure to […]
Hong Kong's first bitcoin ATM opened earlier today at a cafe in one of the city's busiest pedestrian districts. The ATM, a Lamassu one-way bitcoin dispensing machine, will be sited at Mr Bing - a cafe franchise that specialises in Beijing crepes or jianbing. The launch took place at 7:30am, within the franchise premises at 83 Wellington Street, just off Hong Kong's Central-Mid Levels escalator. With such a public location, it will likely serve as an indicator of the Hong Kong general public's interest in bitcoin. Competition. Just hours after the Mr Bing machine went live, local Hong Kong....