Huobi Launches Spot Trading and Custodian Services in Hong Kong
Huobi, the global cryptocurrency exchange, has announced the launch of spot trading and virtual assets custodian services in Hong Kong. The company is also applying for a virtual asset trading platform (VATP) license and working with independent auditors to ensure security, compliance, and anti-money laundering measures are in place.
Hong Kong Crypto Exchanges Face Talent Crunch As New Regulatory Guidelines Come Into Force
Hong Kong is preparing to introduce new regulations for virtual assets, with crypto exchanges required to obtain licenses under the Securities and Futures Ordinance and the Anti-Money Laundering and Counter-Terrorist Financing Ordinance. The regulations will require crypto platforms to employ at least two "responsible officers" (RO) for each type of license they hold.
Sinohope and SFT Protocol Join Forces to Enhance Secure Custody Technologies for Virtual Assets
（Cointime 16th,May）Sinohope, the MPC self-custodial platform of New Huo Tech, has officially partnered with SFT Protocol，a Web3 infrastructure service provider. The two companies will conduct in-depth communication and close cooperation around secure and compliant custody technologies for virtual assets.
Hong Kong Regulator Reminds Local Banks There Is No Ban on Crypto Firms
Hong Kong's central bank, the Hong Kong Monetary Authority (HKMA), has reminded banks that they can provide banking services to virtual asset (VA) companies, as some businesses have complained about the difficulty of opening bank accounts in the jurisdiction. The HKMA has encouraged banks to use a "risk-based approach" when conducting due diligence and avoid one-size-fits-all approaches to rejecting account opening applications. In a bid to attract more companies to the jurisdiction, Hong Kong has been providing virtual asset services providers with more regulatory clarity. The HKMA has also released a circular clarifying best practices for offering banking services.<br>(By Lavender Au)
Crypto Evening Briefing: Kraken Asks San Francisco Court to Intervene Against IRS Demands
Kraken has joined Coinbase in an effort to push back against the growing regulatory scrutiny by United States regulators.
HKMA Encourages Banks to Adopt “Risk-Based Approach” in Account Opening for Virtual Assets Related Entities
The Hong Kong Monetary Authority (HKMA) has reminded banks to adopt a "risk-based approach" in conducting customer due diligence (CDD) and avoid a "one-size-fits-all" approach to reject account opening applications.
Hong Kong Regulators To Host Meeting To Help Crypto Firms With Banking
Hong Kong regulators are convening a meeting between crypto firms and bankers in a bid to ease financing for the sector as the city seeks to establish itself as a hub for virtual assets.
Victory Securities Receives Hong Kong SFC Approval to Manage Portfolios Investing in Virtual Assets
The company has complied with the SFC's "Proforma Terms and Conditions for Licensed Corporations which Manage Portfolios that Invest in Virtual Assets".
Existing Virtual Asset Operators Given Transitional Period To Comply With Proposed Legislation In Hong Kong
Effective June 1, 2023, all new Virtual Asset (VA) trading platforms conducting business or targeting investors in Hong Kong must be licensed and regulated by the Securities and Futures Commission (SFC). The SFC is an independent statutory body that regulates Hong Kong’s securities and futures markets.
NFTs in Gaming: A New Era of Virtual Ownership
NFTs in gaming represents a new era of virtual ownership and engagement for players and developers alike.
