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
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
Background
February was an important month in Hong Kong’s journey towards regulating the digital asset ecosystem and positioning itself as a leading innovation hub.
On 20 February 2024, the Hong Kong Monetary Authority (HKMA) published comprehensive guidance on the provision of digital asset custody services (Custodial Services Circular) and the sale
Once a far-off concept, digital assets, including cryptocurrency, have grown dramatically, achieving over US$3 trillion in value last November with no signs of slowing. Extraterritorial application of foreign laws is an emerging concern as cryptocurrency regulations take shape in other countries, notably the United States. While cryptocurrency regulations have yet to develop in Canada, Canadian
Autrefois un concept obscur, les actifs numériques, dont les cryptomonnaies, ont connu une croissance spectaculaire, réalisant une valeur de plus de 3 T$ US en novembre dernier sans le moindre signe de ralentissement. L’application extraterritoriale des lois étrangères est une préoccupation émergente alors que des règlements sur les cryptomonnaies sont mis en œuvre dans d’autres