At the end of January, the Hong Kong Monetary Authority (HKMA) indicated it may require firms to keep to their principal business and have a locally incorporated entity in Hong Kong if they want to obtain stablecoin licenses, according to its consultation conclusions.

Hong Kong’s ambition of becoming a cryptocurrency hub is reportedly seeing subtle support from the Chinese government, in what could be seen as a contrast to the mainland’s hard-line anti-crypto stance.

Earlier on Monday, February 20, the news broke out that Hong Kong could allow retail players to trade big cryptocurrencies like Bitcoin and Ethereum ahead this year. A few hours later, crypto exchange Huobi announced that it is seeking a license to start a local exchange in Hong Kong. As Hong Kong makes the push to reestablish itself as the crypto hub in Asia, questions are arising about whether Beijing is quietly backing this move. Over the past few months, China’s Liaison Office representatives have been guests at Hong Kong’s crypto gatherings. (coingape)

Hong Kong outlined a plan to let retail investors trade digital tokens like Bitcoin and Ether, taking a major step toward its goal of becoming a crypto hub in a policy shift that contrasts with a crackdown in the US.

Hong Kong outlined a plan to let retail investors trade digital tokens like Bitcoin and Ether, taking a major step toward its goal of becoming a crypto hub in a policy shift that contrasts with a crackdown in the US.

Hong Kong’s Securities and Futures Commission (SFC) calls for public feedback on its newly proposed licensing regime for cryptocurrency exchanges set to take effect from June 2023.

Hong Kong's Securities and Futures Commission (SFC) on Monday published its proposed rules for virtual asset trading platforms and is seeking public comment.

“America risks losing it’s status as a financial hub long term, with no clear regs on crypto, and a hostile environment from regulators. Congress should act soon to pass clear legislation. Crypto is open to everyone in the world and others are leading. The EU, the UK, and now HK,” Armstrong said, retweeting a post saying Hong Kong will make it legal to sell, purchase, and trade crypto assets for all its citizens from June 1.    

Shenzhen, China, has begun a retail-focused “cross-border” digital yuan pilot with Hong Kong.

The Government of the Hong Kong Special Administrative Region of the People’s Republic of China (HKSAR Government) announced on Feb 16 that it had issued HK$800 million in tokenized green bonds, under the Government's Green Bond Program (GBP). The bonds were underwritten by four banks and priced at a yield of 4.05%.