Hong Kong officials have announced imminent plans for new regulation on tokenized real-world assets, just as HSBC and Ant Group start testing tokenized deposits in the Hong Kong Monetary Authority sandbox.
The scandal might turn out to be the largest financial fraud in Hong Kong. JPEX has suggested that its users recover their funds by buying a stake in the exchange.
Hong Kong officials have announced imminent plans for new regulation on tokenized real-world assets, just as HSBC and Ant Group start testing tokenized deposits in the Hong Kong Monetary Authority sandbox.
The scandal might turn out to be the largest financial fraud in Hong Kong. JPEX has suggested that its users recover their funds by buying a stake in the exchange.
Crypto exchange JPEX recently raised withdrawal fees to handle a liquidity crisis and stopped its Earn program. The problems were ignited by the Hong Kong financial regulator's investigation of the exchange's operations in the country.
The Hong Kong Monetary Authority is gearing up for the territory’s October FinTech week with a 12-month roadmap to promote adoption, and updates on CBDC and tokenized bonds projects.
Retail cryptocurrency traders in Hong Kong can now buy and sell to their heart’s content, as local exchanges, HashKey and OSL have both received uplifts to their licenses from the HK Securities and Futures Commission. Previously, crypto trading in the region was limited to professional investors.
Transactions using the digital yuan have amounted to $250 billion since the start of the CBDC’s pilot phase. China’s Central Bank Governor looked to the next step to increased adoption - cross-border payments
Hong Kong authorities recently implemented a rule that crypto tokens must be included on at least two indices to be retail-tradable. So a Hong Kong rating agency created a new index of tokens including BNB, Dogecoin, XRP and Tron, much to the joy of CZ and Justin Sun.
