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Hong Kong
Sanctions
Hong Kong Has Become a Sanctions Evasion Hub: Report
By Manesh Samtani | 24/07/2024
New report says Hong Kong has emerged as a “global centre for illicit finance and trade” and the city’s banks should be sanctioned.
Enforcement
Hong Kong Court Jails Three in Landmark Manipulation Case
By Sanday Chongo Kabange | 23/07/2024
The jail sentences are the heaviest and longest imposed for market manipulation since the SFO came into effect in 2003.
Crypto / Digital Assets
Hong Kong Lists Asia’s First Inverse Bitcoin ETF
By Sanday Chongo Kabange | 23/07/2024
The new ETF was issued by CSOP Asset Management, which was also first to launch Asia’s first crypto futures ETFs in December 2022.
Market Infrastructure
HKEX to Allow Secondary Listings from UAE Stock Exchanges
By Sanday Chongo Kabange | 22/07/2024
Companies with primary listings at Abu Dhabi Securities Exchange and Dubai Financial Market can apply for a secondary listing in Hong Kong.
Crypto / Digital Assets
HKMA Names First Participants of Stablecoin Sandbox
By Sanday Chongo Kabange | 19/07/2024
The participants are Jingdong Coinlink Technology, RD InnoTech, Standard Chartered, Animoca Brands, and HKT.
Crypto / Digital Assets
Hong Kong Publishes Results from Stablecoin Consultation
By Sanday Chongo Kabange | 18/07/2024
Based on feedback, the FSTB and HKMA will prepare a bill to implement a regulatory regime for stablecoins and submit it to LegCo later this year.
Enforcement
US Jails Man for Shipping Microelectronics to Russia via Hong Kong
By Editors | 17/07/2024
Russian national Maxim Marchenko procured dual-use military grade microelectronics for Russian end users using Hong Kong-based shell companies.
Fintech / Regtech
HKMA Assessing Whether Virtual Banks Have Achieved Policy Goals
By Editors | 17/07/2024
The HKMA is evaluating whether the eight virtual banks have achieved the intended policy objectives since the licences were granted in 2019.
Market Infrastructure
SFC to Implement New Paperless Securities Regime by End 2025
By Sanday Chongo Kabange | 17/07/2024
The SFC aims to implement the new regime towards the end of 2025, but give companies until end-2030 to transition.
Market Infrastructure
LegCo Progresses Work to Waive REIT Trading Stamp Duty
By Sanday Chongo Kabange | 17/07/2024
Legislative proposals will be introduced this year to waive stamp duty for REIT transactions and options market-making.
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