Cointime

Cointime

Download App
iOS & Android
Home / Point

Hong Kong Lawmaker Hopes to Connect Virtual Asset Platforms with Shanghai Digital Exchanges

Hong Kong lawmaker Johnny Ng has expressed his desire for discussions on connecting virtual asset platforms in Hong Kong with digital asset exchanges in Shanghai. Ng also hopes for more talent exchanges between Hong Kong and mainland China. The Shanghai-Hong Kong Stock Connect program already provides a financial asset link between the two regions. Hong Kong is aiming to become a crypto hub again with its new licensing regime, while China has implemented several bans on crypto-related activity.

Hong Kong
Comments

All Comments

Recommended for you

  • BTC falls below $115,000

    the market shows BTC falling below $115,000, now trading at $114,983.6, a 24-hour decline of 0.46%. The market fluctuates greatly, please manage risk control.

  • A look at the key developments from the afternoon session on September 16th

    7:00-12:00 Keywords: rate cut, US dollar index, Gemini

  • US spot Ethereum ETF saw a net inflow of $361.05 million yesterday

     according to TraderT monitoring, the net inflow of US spot Ethereum ETF was $361.05 million yesterday.

  • US spot Bitcoin ETFs saw a net inflow of $258.92 million yesterday

    according to TraderT monitoring, the net inflow of the US spot Bitcoin ETF was 258.92 million US dollars yesterday.

  • Strive Launches $450 Million Public Offering to Further Increase Bitcoin Holdings

     Bitcoin treasury company Strive (Nasdaq code ASST) announced the launch of a $450 million public offering plan to increase its Bitcoin holdings and raise the proportion of Bitcoin per share. This issuance is part of the company's total $950 million capital initiative, which also includes a $500 million stock buyback plan to enhance balance sheet flexibility. Strive currently holds 69 Bitcoins, worth approximately $7.9 million, and can raise an additional $750 million in the next 12 months through warrants. The company stated that it will issue preferred shares through a registration structure to purchase additional Bitcoins, increasing shareholder exposure to Bitcoin and enhancing shareholder value.

  • Cointime July 27th News Express

    1. As of July 25, BlackRock IBIT held more than 338,000 bitcoins, an increase of more than 1,092 bitcoins from the previous day.

  • Hong Kong's financial industry may study launching stablecoin trading desks and institutional custody services

    Hong Kong Monetary Authority recently announced the list of participants in the stablecoin issuer sandbox, including JD Coin Chain, Circle Coin Innovation, Standard Chartered Bank, Anni Group, Hong Kong Telecom and other institutions. Research reports released by Zeng Shengjun, a researcher at the Greater Bay Area Financial Research Institute of the Shenzhen Branch of Bank of China, and Guan Zhenqiu, a researcher at the Hong Kong Financial Research Institute of Bank of China, analyzed that the Hong Kong dollar stablecoin can improve the efficiency and inclusiveness of the Hong Kong financial system. Its stability, free convertibility, high security, high open source and cross-border mobility can provide support for a wider range of financial innovations.

  • Hong Kong Legislative Council Member: The issuance and trading system of tokenized bond-related products can be shared with the mainland

    Hong Kong Legislative Council member Chan Chun-ying stated that the new productivity of Hong Kong's financial industry is currently mainly developed around digital and green themes. Regarding virtual assets, Hong Kong regulatory agencies should establish relevant trading platforms, stablecoin issuances, testing and operational mechanisms, capture digital development trends, and share relevant regulatory experience with the mainland. At the same time, Hong Kong's tokenized bond development is leading the world, and relevant product issuances, trading systems can be shared with the mainland or guide more mainland companies to issue, together meeting international market demand.

  • Hong Kong investment in virtual assets will not be subject to capital gains tax

    Hong Kong investors in virtual assets will not be subject to asset value-added tax, which is a very attractive point for global investors. For example, in Japan and Australia, although they have expanded the virtual asset market earlier than Hong Kong, they still need to pay asset value-added tax, which will be included in the comprehensive tax rate calculation. The comprehensive tax rates in Japan and Australia can be as high as 50% and 40% respectively. For investors, investment returns are of course the most important consideration, and Hong Kong's low tax system will attract more international investors to settle in Hong Kong.

  • Hong Kong Securities and Futures Commission: Promote the implementation of the mutual recognition arrangement between the Mainland and Hong Kong, and allow sales to public investors in the other marke

    Securities and Futures Commission (SFC) of Hong Kong welcomes the release of the "Hong Kong Mutual Recognition of Funds Management Rules (Revised Draft for Solicitation of Comments)," which promotes the implementation of optimized mutual recognition arrangements for funds. The proposed measures for revision in the draft for solicitation of comments include relaxing the proportion limit for Hong Kong mutual recognition funds sold in the Mainland and allowing Hong Kong mutual recognition funds to transfer investment management functions to overseas asset management institutions under the same group as the manager. Currently, the proportion of mutual recognition funds sold in the other market cannot exceed 50% of the total assets of the fund. After optimization, this proportion limit will be relaxed to 80%. The SFC of Hong Kong will work closely to promote the formulation and implementation of relevant measures and will announce the implementation details and formal launch date of the optimized mutual recognition arrangements in due course. Cross-border mutual recognition of funds is a mature institutional arrangement in the field of international asset management market opening. As early as July 1, 2015, the China Securities Regulatory Commission and the Hong Kong Securities and Futures Commission launched mutual recognition of funds, allowing Mainland and Hong Kong funds that meet certain conditions to be recognized or licensed for sale to the public in the other market in accordance with statutory procedures.

Daily Must-Read

Popular Activities

RaveDAO at Terra Solis by Tomorrowland: A Female-Led Techno Night Where Web3 Culture Converges

RaveDAO at Terra Solis by Tomorrowland: A Female-Led Techno Night Where Web3 Culture Converges

April 30 - April 30
Dubai

Popular Tags

Cointime
News
Contents
RSS
Company