The recent announcement from the Securities and Futures Commission (SFC) regarding staking services for licensed virtual asset trading platforms (VATPs) introduces a clear regulatory framework that will have significant implications for the virtual asset ecosystem in Hong Kong. This development signals a notable shift in the SFC’s regulatory stance, aiming to provide more structure around […]
Background of DeepSeek DeepSeek, a Chinese artificial intelligence research lab, has steadily grown into a notable player in AI development, drawing attention to China’s evolving position in the global AI landscape. While DeepSeek operates as an independent entity, it originated as a long-running side project within High-Flyer (??), a leading quantitative trading firm based in
DeepSeek and the Global AI Power Shift Read More »
1. Introduction We live in an era where digital innovation and environmental sustainability are increasingly shape global industries. The intersection of tokenization and real-world assets is garnering significant attention. Tokenization — the process of converting physical assets into digital tokens on a blockchain — is transforming the way assets are bought, sold, and traded. Among
Real World Assets in the Age of Digital Finance — Tokenizing Rare Earth Minerals Read More »
In recent years, digital currencies have become a hot topic, with terms like USDT (Tether) and central bank digital currencies (CBDCs) frequently discussed. Although both types of currencies share some digital features, they are fundamentally different in structure, purpose, and stability. As digital currencies become increasingly prevalent, distinguishing between various types is crucial. This post
Understanding the Difference Between USDT and Central Bank Digital Currencies Read More »
On 28 August 2024, the Hong Kong Monetary Authority (“HKMA”) took another step ahead in fostering financial innovation with the launch of the “Ensemble” sandbox. For a link to the HKMA’s announcement, see here: Hong Kong Monetary Authority – HKMA launches Project Ensemble Sandbox to accelerate adoption of tokenisation For clients of mine in Mainland
UPDATE: See consultation conclusions issued 17 July 2024 here. This week, Hong Kong is set to unveil the results of its consultation on stablecoins, a pivotal development in the realm of virtual assets. The Financial Services and the Treasury Bureau, along with the Hong Kong Monetary Authority, have been deliberating on regulatory frameworks for issuers
Regulation of Stablecoins in Hong Kong: Implications and Expectations Read More »
In today’s dynamic and rapidly evolving business environment, the traditional model of large, full-service law firms is being increasingly challenged. Businesses are navigating through economic uncertainties, regulatory complexities, and technological advancements that demand more agile and specialised legal services. Boutique law firms are emerging as strategic partners uniquely equipped to meet these demands, offering tailored
The Rise of Boutique Law Firms: Thriving in a Modern Business Landscape Read More »
China is on the brink of implementing its first comprehensive financial stability law, a significant legislative move aimed at fortifying the financial system of the world’s second-largest economy. This landmark bill underscores Beijing’s commitment to preventing and mitigating systemic financial risks through enhanced regulation and a robust financial stability fund. Key Provisions of the Financial
China’s First Financial Stability Bill Read More »
Introduction The recent exposure of private tax information of hedge fund magnates has sparked significant interest and concern. A recent Chinese article pulished on WallStreetCN.com, “???????‘??’???” provides a detailed account of this incident, focusing on prominent figures like Kenneth Griffin and Warren Buffett. As a Hong Kong-based financial services lawyer specialising in the setting up
Unveiling the Privacy of Hedge Fund Titans: A Linguistic and Legal Analysis Read More »
In a significant move to enhance cross-border travel, the Hong Kong Special Administrative Region Government has announced the introduction of a new Mainland Travel Permit for non-Chinese Hong Kong permanent residents. Effective from July 10, 2024, this card-type document is set to simplify and expedite clearance at Mainland control points, marking a milestone in Hong
New Mainland Travel Permit: A Gateway to Greater Opportunities Read More »
