On 28 August 2024, the Hong Kong Monetary Authority (HKMA) launched the Project Ensemble Sandbox (Sandbox) to explore asset tokenisation use cases and the settlement of tokenised asset transactions. The Sandbox is a crucial component of Project Ensemble, which launched in March 2024, to explore new financial market infrastructure (FMI
In the second issue of Global Asset Management Review, our cross-border team provide market updates followed by a closer look at some of the key issues impacting the asset management sector including:
Last week, two major stablecoin announcements were made to support Hong Kong’s efforts in facilitating the responsible development of its virtual asset ecosystem.[1] On 17 July 2024, the Financial Services and the Treasury Bureau (FSTB) and the Hong Kong Monetary Authority (HKMA) jointly published consultation conclusions on the proposed regulatory
On 27 June 2024, the Monetary Authority of Singapore (MAS) announced the expansion of two initiatives to scale asset tokenisation for financial services.
Project Guardian
One of these initiatives – Project Guardian – involves partnering with global industry associations and financial institutions to drive common asset tokenisation standards in fixed income, foreign exchange
On 27 June 2024, the Banque de France (BDF) and the HKMA announced their collaboration in relation to wholesale central bank digital currency (CBDC).
This latest collaboration between the two regulators is the HKMA’s participation in Wave 2 of the European Central Bank’s (ECB) Eurosystem exploratory work. The BDF and
On 25 June 2024, the HKMA issued a press release announcing that the Hong Kong Institute for Monetary and Financial Research (HKIMR), the research arm of the Hong Kong Academy of Finance (AoF), has released two new research reports, on “Decentralised Finance: Current Landscape and Regulatory Developments” and “The Metaverse: Opportunities
On 20 June 2024, the Monetary Authority of Singapore (MAS) announced the publication by Singapore of its updated Money Laundering (ML) National Risk Assessment (NRA), as part of its continuing efforts to maintain the effectiveness of its anti-money laundering (AML) regime amidst the evolving risk landscape.
The
On 12 June 2024, the Securities and Futures Commission (SFC) held a briefing session to explain its regulatory expectations to the virtual asset trading platform (VATP) applicants that are now deemed to be licensed after 1 June 2024.
In a press release, the SFC noted that over 60 participants –
On 5 June 2024, the Securities and Futures Commission (SFC) published a speech by its Chief Executive Officer, Ms Julia Leung, on ‘Building a Fintech Ecosystem to Shape the Future of Finance’.
In the speech, Ms Leung focuses on distributed ledger technology (DLT), noting that financial professionals are debating whether it
In our latest Global Regulation Tomorrow Plus podcast, Matthew Gregory, Joe Bamford, Hishaam Khan and Anita Edwards discuss the first annual governing body report, and the governing body’s obligations with respect to it, under the FCA’s Consumer Duty rules. Firms are required to have prepared the report by 31 July 2024, and in this podcast