Hong Kong Legislative Council member Chan Chun-ying: Digital RMB will help Hong Kong accumulate experience in managing cryptocurrencies
Hong Kong Legislative Council member Chan Chun-ying stated that Hong Kong's launch of digital RMB services has become the first offshore market to participate in practical applications. After stable operation, it can gradually be promoted to other offshore markets. It is believed that this will help Hong Kong accumulate management experience in cryptocurrencies and be more confident in launching digital Hong Kong dollars in the future. The Hong Kong Monetary Authority stated that Hong Kong is already the first area outside the Mainland where local residents can open digital RMB wallets.
Hong Kong's six Bitcoin and Ethereum spot ETFs traded a total of about HK$47.1 million today
On May 3rd, the first batch of 6 Bitcoin and Ethereum spot ETF funds launched in Hong Kong today with a total transaction amount of approximately HKD 47.1 million, including:Huaxia Bitcoin ETF (3042. HK) reached HKD 12.65 million;Huaxia Ethereum ETF (3046. HK) reached HKD 2.97 million;ChinaAMC Bitcoin Spot ETF (3439. HK) reached HKD 19.11 million;ChinaAMC Ethereum Spot ETF (3179. HK) reached HKD 1.11 million;Foresight HashKey Bitcoin ETF (3008. HK) had a transaction amount of approximately HKD 10.08 million;Foresight HashKey Ethereum ETF (3009. HK) reached HKD 1.18 million.
Hong Kong Stock Exchange announces information on virtual asset ETF securities market makers, including Barclays Asia, China Merchants Securities (Hong Kong), etc.
The latest announcement from the Hong Kong Stock Exchange regarding the trading arrangements for virtual asset ETFs of CSOP, Huatai and Bosera HashKey has disclosed information about securities dealers. The following shows the securities dealers for the Bitcoin spot ETF and Ethereum spot ETF of CSOP: ABN AMRO Clearing Hong Kong Limited, Barclays Asia Limited, CMB Securities (Hong Kong) Limited, Citic Lyon Securities Limited, Eclipse Options (HK) Limited, and Optiver Trading Hong Kong Limited. The securities dealers for the Bitcoin ETF and Ethereum ETF of Huatai include: ABN AMRO Clearing Hong Kong Limited, Barclays Asia Limited, Citic Lyon Securities Limited, Eclipse Options (HK) Limited, VivCourt Trading HK Limited, and Optiver Trading Hong Kong Limited. The securities dealers for the Bitcoin ETF and Ethereum ETF of Bosera HashKey include: Barclays Asia Limited (authorized securities dealer: Jane Street Asia Trading Limited), Eclipse Options (HK) Limited, VivCourt Trading HK Limited (authorized securities dealer: Vivienne Court Trading Pty. Ltd.), and Optiver Trading Hong Kong Limited. According to the relevant announcement of the Hong Kong Stock Exchange, the relevant exchange participants have been granted securities dealer licenses, which will take effect on the same day, providing securities dealer activities for the exchange-traded funds. The securities dealers must comply with the responsibilities of securities dealers and the rules of the exchange.
Hong Kong Bitcoin ETF already holds 4,088 BTC
HODL15Capital data shows that after two days of launch, the Hong Kong Bitcoin ETF has already held 4,088 BTC.
The first six Bitcoin and Ethereum spot ETFs launched in Hong Kong closed today with a total transaction amount of over HK$83 million
According to data from the Hong Kong Stock Exchange, the total trading volume of the 6 virtual asset spot ETFs issued in Hong Kong's first batch is approximately HKD 83.36 million, including: Huaxia Bitcoin ETF (3042.HK) with a trading volume of HKD 35.48 million, Huaxia Ethereum ETF (3046.HK) with a trading volume of HKD 12.63 million; Boshi HashKey Bitcoin ETF (3008.HK) with a trading volume of HKD 10.16 million, Boshi HashKey Ethereum ETF (3009.HK) with a trading volume of HKD 2.48 million; Jiashi Bitcoin Spot ETF (3439.HK) with a trading volume of HKD 17.66 million, Jiashi Ethereum Spot ETF (3179.HK) with a trading volume of HKD 4.95 million.
HKEX: Accepts BOS HashKey, Huaxia, Harvest Bitcoin and Ethereum ETFs as eligible securities for multiple counters in the central clearing system
On April 27th, the Hong Kong Stock Exchange issued three notices, announcing the inclusion of Bo Shi HashKey Bitcoin ETF shares and Bo Shi HashKey Ethereum ETF shares, Huaxia Bitcoin ETF shares and Huaxia Ethereum ETF shares, and Jia Shi Bitcoin Spot ETF shares and Jia Shi Ethereum Spot ETF shares as Central Clearing System multi-counterparty eligible securities. It is reported that:
Hong Kong Investment Commission: Virtual asset spot ETFs can be bought and sold through banks
Hong Kong investors and the Financial Education Committee have stated that the investment scope of spot virtual asset ETFs is limited to virtual assets (currently limited to Bitcoin and Ethereum) provided to the Hong Kong public for buying and selling on virtual asset trading platforms holding China Securities Regulatory Commission licenses. Trading counterparties must buy and sell virtual assets through licensed virtual asset trading platforms to reduce counterparty risks. Asset custody must be entrusted to designated institutions regulated in Hong Kong, such as licensed virtual asset trading platforms, banks, or their subsidiaries registered in Hong Kong, to reduce custody risks. Investors can buy and sell virtual asset spot ETFs through securities firms or banks. Some virtual asset spot ETFs also provide non-listed fund unit categories, which operate similarly to non-listed funds. Investors can apply for and redeem units through securities firms or banks.
Hong Kong Customs cracked a HK$1.8 billion money laundering case involving a virtual currency trading platform
Hong Kong Customs has reported a successful crackdown on a major money laundering case, involving a staggering HKD 1.8 billion. According to preliminary investigations, a criminal group consisting of three individuals processed over 1,000 suspicious transactions between June 2021 and July 2022 through the establishment of multiple shell companies and bank accounts, including a significant amount of suspicious fund transfers from virtual currency trading platforms. This indicates that the criminals tried to launder their illegal proceeds by taking advantage of the anonymity of virtual currencies. Currently, Customs has arrested three key members of the criminal group, seized the assets of the involved companies, and confiscated a large number of criminal tools, including mobile phones, company seals, and bank cards. The case is still under further investigation, and more suspects may be arrested. This case once again sounds the alarm, reminding the virtual currency industry to increase vigilance and strictly comply with anti-money laundering regulations.
HKMA issues distributed ledger technology guidance to banks
Hong Kong Monetary Authority has issued guidelines to local banks on the use of distributed ledger technology (DLT) and support for the development of Hong Kong's virtual asset ecosystem, in order to support banks in using DLT in a risk-controlled manner. Through clarifying the main regulatory considerations of the Authority, it aims to further promote the wider application of DLT in the industry, including establishing appropriate governance, ensuring the design suitability of DLT application projects, and continuous maintenance and supervision of DLT projects. In order to accommodate the diverse development of technology and the market, the Authority will continue to maintain close communication with the industry and support the orderly development of Hong Kong's virtual asset ecosystem in a risk-controlled manner.
Wu Jiezhuang: It is recommended that Hong Kong establish a "virtual asset bank" to address industry pain points
Wu Jiezhuang, a member of the National Committee of the Chinese People's Political Consultative Conference and a member of the Legislative Council of the Hong Kong Special Administrative Region, wrote an article in Takungpao titled "Inside and Outside the Parliament/Three-party Cooperation to Develop 'Virtual Asset Banks'". The article pointed out that in order to address industry pain points, a "virtual asset bank" should be established to further provide comprehensive virtual financial services and facilities, including buying and selling and exchange services of virtual currencies for individual customers, providing unified virtual asset clearing, settlement, and custody services for qualified virtual asset service providers, reducing the market entry threshold for small and medium-sized investors; and assisting and encouraging the industry to provide related "intermediate income businesses" such as insurance, funds, asset management, etc., to provide more innovative virtual financial products and services, and to comprehensively develop the ecosystem combining traditional and virtual finance.
