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Hong Kong central bank studies AI's impact on banking jobs and skills
23.5.2024
HKMA deputy chief executive Arthur Yuen said that enhancing employees' skills would allow them to “coexist with technology in the AI era.”
Crypto exchanges exit Hong Kong license race ahead of May deadline
21.5.2024
The queue of crypto exchanges for operational licenses in Hong Kong is shrinking as seven exchanges, including IBTCEX and Huobi HK, withdraw applications ahead of the May 31 deadline
China Expands Digital Yuan Pilot: Hong Kong Residents Can Now Set up E-CNY Wallets Locally
17.5.2024
The Hong Kong Monetary Authority (HKMA) and the People’s Bank of China (PBOC) have advanced the digital yuan (e-CNY) pilot for payments, aiming to increase e-CNY wallet usage in Hong Kong. Residents can now set up and top up wallets via the Faster Payment System (FPS), marking the first global...
Mastercard, Standard Chartered test tokenized deposit transaction
15.5.2024
Mastercard’s Multi-Token Network enabled an atomic swap of a tokenized carbon credit for cash in a bank account
HKMA Establishes Working Group to Set Standards for Wholesale CBDC Interoperability
8.5.2024
Project Ensemble Architecture Community will assist in the implementation of the Sandbox, slated to launch by mid-2024.
The post HKMA Establishes Working Group to Set Standards for Wholesale CBDC Interoperability appeared first on Cryptonews
Hong Kong central bank forms community to explore assets tokenization
7.5.2024
Regulators like HKMA and SFC united with local private sector firms like HSBC and HashKey to support the market of tokenization in Hong Kong
Hong Kong’s ZA Bank to Offer Custody Accounts for Stablecoin Issuers
9.4.2024
ZA Bank, a virtual bank in Hong Kong, will offer cash custody accounts for institutions that want to issue stablecoins. The organization is in talks with several parties seeking to issue their stablecoins, and this service would be available for them after receiving a license from the Hong Kong...
Hong Kong Launches Second Phase of Its CBDC Pilot Program
19.3.2024
The Hong Kong Monetary Authority announced the launch of the second phase of the pilot of its CBDC, the digital Hong Kong dollar (e-HKD). This new phase will focus on furthering the research on already examined use cases for the currency, including programmability and tokenization, and adding...
Hong Kong Gears Up for e-HKD: Phase Two Pilot Seeks CBDC Use Cases
15.3.2024
Hong Kong's central bank, the Hong Kong Monetary Authority (HKMA), announced today the launch of the second phase of its e-HKD pilot program.
The post Hong Kong Gears Up for e-HKD: Phase Two Pilot Seeks CBDC Use Cases appeared first on Cryptonews
Hong Kong Monetary Authority Launches Stablecoin Issuer Sandbox
14.3.2024
On March 12, the Hong Kong Monetary Authority (HKMA) launched what is known as the stablecoin issuer sandbox arrangement. The HKMA stated that applicants interested in establishing a stablecoin business in Hong Kong should have a sound business plan. The regulator also clarified that admission into...
Hong Kong's Central Bank Starts Regulatory Sandbox for Stablecoin Issuers
12.3.2024
The regulator invited applicants with a "genuine interest in developing a stablecoin issuance business" to join the sandbox
Hong Kong Launches Project Ensemble, a Wholesale CBDC and Tokenized Deposits Initiative
9.3.2024
The government of Hong Kong has announced Project Ensemble, an initiative that will test the functionality of a wholesale central bank digital currency (WCBDC) and the movement of tokenized deposits. If there is “sufficient interest” in the project, the Hong Kong Monetary Authority...
Hong Kong’s Central Bank Announces New Wholesale CBDC to Support Tokenization Market
7.3.2024
Project Ensemble will "seek to explore innovative financial market infrastructure (FMI) that will facilitate seamless interbank settlement of tokenised money," HKMA said
Hong Kong Set To Release Consultation on Regulatory Framework for OTC Crypto Platforms
2.2.2024
Hong Kong will publish a consultation on a proposed regulatory framework for over-the-counter crypto trading platforms “very soon,” according to a February 2 blog post. Secretary for Financial Services and the Treasury Christopher Hui warned the public of the risks of over-the-counter venues, given...
Hong Kong Gets Spot-Bitcoin ETF Application, Stablecoin Interest From China’s Harvest Global: Reports
29.1.2024
Venture Smart Financial Holdings is also aiming for a spot-bitcoin ETF and is involved in the discussions about the stablecoin sandbox
Hong Kong Regulators Unveil Public Consultation Paper on Stablecoin Regulation
28.12.2023
Hong Kong Monetary Authority (HKMA) and Financial Services and the Treasury Bureau have released a public consultation paper to gather residents’ opinions on the proposed regulatory regime for stablecoin issuers. The HKMA also announced the introduction of a sandbox arrangement whose purpose will...
Lawmaker Raises Red Flags Over Hong Kong’s Stablecoin Regulation Proposal
27.12.2023
A Hong Kong lawmaker expressed worries that new stablecoin regulations could disrupt crypto markets. Image by mehaniq41, Adobe Stock. Today, Hong Kong’s financial authorities—the Financial Services and the Treasury Bureau (FSTB) and the Hong Kong Monetary Authority (HKMA)—unveiled their plan...
Hong Kong Government Seeks Public Input on Legislation for Stablecoin Supervision
27.12.2023
Source: Pexels The Financial Services and the Treasury Bureau (FSTB), and the Hong Kong Monetary Authority (HKMA) have jointly introduced a public consultation paper outlining a legislative proposal to regulate issuers of stablecoins. This move is prompted by the increasing prominence...
Hong Kong Regulators Propose Mandatory Licenses for Fiat-Backed Stablecoin Issuers
27.12.2023
The Hong Kong Monetary Authority (HKMA) and the Financial Services and the Treasury Bureau (FSTB) are also planning a sandbox to provide guidance on compliance
Hong Kong Financial Regulator Prepared to Accept Applications for Spot Crypto ETFs
22.12.2023
Source: Adobe/leungchopan Hong Kong’s Securities and Futures Commission (SFC) has expressed its readiness to consider applications for spot crypto exchange-traded funds (ETFs). The SFC and the Hong Kong Monetary Authority (HKMA) have issued a joint circular addressing the increasing interest...