News list for "Hong Kong Legislative Council"
The Legislative Council of Hong Kong released the first thematic newsletter in 2025 "Strengthening Hong Kong's status as an international financial center". The thematic newsletter is a new service launched by the Parliamentary Affairs Division of the Legislative Council Secretariat in December 2024. The latest thematic newsletter stated: The Bills Committee of the Legislative Council is scrutinizing in detail the Companies (Amendment) (No. 2) Bill 2024 and the Stablecoin Bill to introduce a mec...
According to techinasia, the Legislative Council of Hong Kong, China, discussed the proposed stablecoin bill on January 23. This was the first meeting of the bill since its first reading on December 18, 2024. Key officials, including Deputy Secretary General for Financial Services and the Treasury Francis Ho, outlined the regulatory framework for stablecoins. The bill requires issuers to obtain a license from the HKMA and maintain a reserve of high-quality, highly liquid assets. The proposed leg...
Wu Jiezhuang, chairperson of the committee of the Hong Kong Legislative Council, Web3 and Virtual Asset Development Forum, said that Hong Kong's virtual asset trading platform license requirements are very high, and the withdrawal of the application is mainly due to the company's financial problems, business maturity, investment technology and the suitability of warehousing candidates. On how the Hong Kong virtual asset market can serve the needs of the country in the future, Wu Jiezhuang believ...
The Hong Kong Legislative Council, Web3 and Virtual Asset Development Forum Committee Chairperson Wu Jiezhuang said that the Hong Kong High Court heard the world's first lawsuit involving a decentralized autonomous organization (DAO) in August this year. At present, the United States and Abu Dhabi have relevant legal frameworks to regulate DAOs. Since DAOs have no legal subject, it is recommended that the special administrative region government can refer to the licensing system of the securitie...
Li Weihong, a member of the Hong Kong Legislative Council (financial services sector), put forward the motion "Promoting high-quality development and building a financial powerhouse" at the Legislative Council meeting yesterday (November 27) and passed it. It is reported that the motion mainly focuses on six strong key core elements, and the development of technology finance, green finance, inclusive finance, pension financing and digital finance "five big articles" to achieve the goal of financ...
The Web3 and Virtual Asset Development Subcommittee of the Hong Kong Legislative Council held a meeting on November 19 to discuss the promotion of blockchain technology application and Web3 development. Business lawmakers Yan Gang proposed to combine the development of virtual asset indices and stablecoins in Hong Kong, so that Hong Kong can gain a certain say in the pricing power of virtual asset transactions. It is hoped that the SAR government will make further plans in this regard.
Dr. Wu Jiezhuang, member of the National Committee of the Chinese People's Political Consultative Conference, member of the Hong Kong Legislative Council, and chairperson of the board of directors of Gao Feng Group, attended the meeting of the Hong Kong and Macao Affairs Office of the Guangdong Provincial People's Government, the Executive Committee of the Hengqin Guangdong-Macao Deep Cooperation Zone, the Civil Affairs and Youth Office of the Hong Kong Special Administrative Region Government, ...
Li Weihong, a member of the Hong Kong Legislative Council, wrote an article in Ta Kung Pao, focusing on how to explore new market opportunities, improve the pain points of Hong Kong's financial services industry and enhance the momentum of economic development. He pointed out that the Hong Kong Securities Supervision Commission is welcome to relax investor restrictions on virtual asset transactions and allow retail transactions to be moderately allowed.
Members of the National Committee of the Chinese People's Political Consultative Conference and members of the Hong Kong Legislative Council wrote an article in the Ta Kung Pao "Three Strategies" to Drive High-Quality Development in Digital Hong Kong ", pointing out that from the external, central and internal levels, the" three arrows "of the rapid development strategy are accurate...
According to the Hong Kong Dagong News Exchange, Hong Kong Legislative Council member Tan Yueheng has joined other members of the G19 to communicate with Chief Executive Li Jiachao and submit a proposal for the 2024 policy address to him. Tan Yueheng emphasized the use of technology to promote the development of new financial formats, including attracting financial technology companies to participate in the stablecoin sandbox mechanism, expanding the scope of testing of digital RMB as a cross-bo...
On August 9, Wu Jiezhuang, a member of the Hong Kong Legislative Council, posted on social media: "HKMA released a report on virtual banking earlier. I appreciate the support of the Hong Kong Special Administrative Region government for the upgrading of banking services and the development of virtual banks in the past few years, but at the same time my team made an opinion on Web3's use of banking services in Hong Kong. The survey revealed that Web3 had difficulty opening accounts.
On July 24th, Li Weihong (financial services industry), a member of the Hong Kong Legislative Council, suggested that the Hong Kong Special Administrative Region government can take optimization measures for the following series of financial policies to further promote the development of Hong Kong's financial services industry. He pointed out that the industry welcomes the Securities Supervision Commission's acceptance of industry opinions and moderately allows retail investors to participate in...
Hong Kong Legislative Council member Ng Kit-chuang announced in X that Deputy Secretary for Financial Services and the Treasury Chan Ho-Lian released a briefing and explained the "proposed regulatory regime for stablecoin issuers"...
At today's meeting of the Hong Kong Legislative Council, the Honourable Lee Wai-hung asked whether the regulator would expedite the approval of the upgrade of relevant licenses and moderately relax the requirements for intermediaries to distribute virtual assets (such as providing customers with warnings about relevant products).
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