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Signage for bitcoin in Hong Kong on August 5, 2024. Photo: Bloomberg

Exclusive | Hong Kong weighs new OTC crypto scheme with SFC

A previous proposal had OTC cryptocurrency shops under the excise department, but some complained about confusing virtual asset rules, sources say.

A previous proposal had OTC cryptocurrency shops under the excise department, but some complained about confusing virtual asset rules, sources say

12 Sep 2024 - 10:00AM

Sanergy’s 98% meltdown wipes out US$2.6 billion of Chinese firm’s value

3 Sep 2024 - 4:43PM

Crypto exchange HashKey opens two new tokens to retail investors

29 Aug 2024 - 2:54PM

Landmark ruling highlights need for Hong Kong’s crypto regulatory framework

Hong Kong High Court decision provides clarity and is consistent with the principle that new legal entities in the cryptocurrency field must be open to scrutiny.

27 Aug 2024 - 6:30AM

Cryptocurrency ATMs, operated by Coinhero, are seem in Hong Kong. File photo: Bloomberg

Hong Kong virtual bank Mox starts bitcoin, ether ETF trading

Mox says it is the first virtual bank to offer spot cryptocurrency ETFs as part of an effort to offer a holistic banking and investing solution to customers.

7 Aug 2024 - 11:00AM

Chinese brokerage rewards Hong Kong crypto traders with Nvidia, Alibaba stock

Futu Securities is the largest online brokerage to directly sell crypto to retail investors, and it is rewarding early users with tech stocks or bitcoin.

2 Aug 2024 - 6:06PM

Hong Kong’s Insurance Authority appoints managers to take control of Tahoe Life

Derek Lai and Forrest Kam from Deloitte Touche Tohmatsu and Oliver Cheng from Deloitte Advisory have been appointed joint managers to handle day-to-day operations at the distressed insurer.

26 Jul 2024 - 6:32PM

Tahoe Insurance has been banned by Hong Kong’s Insurance Authority from issuing new policies since 2021. Photo: Tahoe Life Insurance

As ether ETFs in US take off, Hong Kong may look to staking

Trading volume of spot ether ETFs has dwarfed that of similar products in Hong Kong, where some crypto investors hope the SFC will approve staking.

25 Jul 2024 - 8:00AM

Hong Kong relaxes some stablecoin rules, launches limited trials

The HKMA announced the first stablecoin issuers to trial e-commerce, trade settlement and tokenised assets, with final rules to be submitted to Legco this year.

18 Jul 2024 - 6:19PM

Hong Kong authorities ‘gaining experience’ in disrupting illicit crypto activities

Post speaks to cryptocurrency experts after kidnapping involving demand for Tether stablecoin in exchange for boy’s return.

14 Jul 2024 - 4:16PM

Hong Kong authorities have amassed experience in tracing criminal activities involving cryptocurrencies, with a speedy response being key, experts say. Photo: Getty Images

Steady fund flows have bolstered Hong Kong’s financial hub status: SFC

Hong Kong-domiciled funds saw net fund inflows of HK$33 billion (US$4.2 billion) in the first quarter, following a 93 per cent jump last year, the SFC data showed.

12 Jul 2024 - 4:46PM

Assets under management in Hong Kong grew 2.1 per cent year on year in 2023 to HK$31.19 trillion (US$3.99 trillion). Photo: Sam Tsang

Hong Kong sentencing delayed for convicted Ching Lee market manipulators

Sentencing hearing adjourned until July as judge considers appropriate punishments for trio convicted of artificially boosting share price.

17 Jun 2024 - 4:08PM

China’s market watchdog aims to enhance funds recognition scheme with Hong Kong

Mainland China’s top securities watchdog has proposed amending a funds recognition scheme with Hong Kong in the latest move to boost cross-border trading and capital flow between the two markets.

14 Jun 2024 - 10:33PM

Hong Kong aims to stop shutting stock exchange for typhoons by September: source

Hong Kong is working hard on a new policy to keep its stock and derivatives markets open during typhoons or torrential rains, with a view to making the change in September, according to a source with knowledge.

7 Jun 2024 - 5:53PMvideocam

The HKEX is planning to scrap its decades-old practice of halting trading when the observatory issues a Typhoon signal No. 8 or a black rainstorm alert. Photo: Dickson Lee

‘Sound strategy, poor execution’: several crypto firms stick it out in Hong Kong

Despite recent withdrawals, recently ‘deemed to be licensed’ exchanges spur some optimism about the future of Hong Kong’s virtual asset market.

5 Jun 2024 - 9:30PM

Hong Kong JPEX scandal: pair launch civil claims in bid to recover HK$1.8 million

Plaintiffs Herbert Lee and Chan Wing-yan have launched the first civil action against platform involved in an alleged HK$1.6 billion financial fraud.

4 Jun 2024 - 5:10PM

11 crypto exchanges in Hong Kong ‘deemed to be licensed’, paving way for approvals

The SFC updated the exchanges’ status on its website, while the situation of six operators remains unknown, after several China-linked exchanges pulled out.

3 Jun 2024 - 11:39PMvideocam

Hong Kong and Saudi regulators explore pact for financial services, ETFs

The regulators of Hong Kong and Saudi Arabia will explore ways to cross-list ETFs and foster two-way fund flows, according to the Securities and Futures Commission.

3 Jun 2024 - 7:35PM

Market manipulators of Hong Kong-listed Ching Lee convicted in landmark trial

A nine-member jury at the Court of First Instance found Sit Yi Ki, Lam Wing Ki and Tam Cheuk Hang guilty of manipulating the shares of Ching Lee Holdings.

29 May 2024 - 11:48PM

No mainland crypto customers: exchange licence applicants withdraw from Hong Kong

Amid high compliance costs, the SFC’s notice that crypto exchanges should not serve mainland investors is prompting some firms to leave the city.

29 May 2024 - 7:30AM

Hong Kong sees third major crypto exchange withdraw licence application

Gate.HK, the Hong Kong arm of cryptocurrency exchange Gate.io, says it took ‘a proactive step’ to withdraw its application.

24 May 2024 - 4:30PM

Illustrative bitcoin and ether tokens. Photo: Bloomberg

Ether ETFs jump in Hong Kong amid anticipation of US approval

The prices of Hong Kong’s three spot ether ETFs jumped by more than 18 per cent on Tuesday, as trading volume picked up this week.

22 May 2024 - 7:10PM

Illustrative bitcoin and ether tokens presented during the listing ceremony of the spot cryptocurrency ETFs issued by China Asset Management at the Hong Kong stock exchange on April 30, 2024. Photo: Bloomberg

Green finance: Conduct code for ESG ratings and data providers up for discussion

Code will be ‘vital in fostering greater transparency, quality and reliability of ESG information, as well as comparability of products’, says SFC head Julia Leung.

17 May 2024 - 5:00PM

HTX Hong Kong affiliate withdraws crypto licence application for second time

HBGL, which operates Huobi HK, has withdrawn the licence application for unspecified reasons, requiring it to close the crypto exchange under the city’s virtual asset regulations.

15 May 2024 - 3:30PM

Scammers target public with fake scheme to relaunch iconic Hong Kong nightclub

Hong Kong’s market regulator has warned the public to beware of a suspected investment scam in which fraudsters claim they are trying to raise the funds to relaunch one of the city’s iconic nightclubs.

15 May 2024 - 7:00AMvideocam

The now-defunct Club Bboss, whose Chinese name literately means Big Boss Club, was a Tsim Sha Tsui East landmark, boasting a dance floor big enough for 400 revellers. Photo: SCMP Pictures

Editorial | Full agenda for Tong as HKEX chairman

Attracting listings to the bourse from Southeast Asia, the Middle East and other regions, and introducing trading when typhoon signal No 8 is in force are at the top of his list.

3 May 2024 - 6:15AM

New HKEX chairman Carlson Tong Ka-shing brings decades of financial service and public policy experience to the role. Photo: Edward Wong

ZA Bank eyes digital assets services ahead of new regulation next month

Hong Kong’s largest virtual bank is preparing to introduce virtual asset trading services for retail investors, CEO Ronald Iu says. Plans are afoot as a new regulatory regime is rolled out in June.

2 May 2024 - 12:59PM

Hong Kong court quashes convictions of 4 in alleged scheme to defraud Convoy

Court of Appeal clears three executives of two charges of conspiracy to defraud and quashes conviction of fourth defendant.

30 Apr 2024 - 9:02PM

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SFC

The Securities and Futures Commission (SFC) is an independent statutory body set up in 1989 to regulate the city’s securities and futures markets. It works to ensure orderly securities and futures market operations, to protect investors and help promote Hong Kong as an international financial centre and a key financial market in China.

last updated:

9 September, 2024