Wu Jinduo, a doctor of economics, wrote in the Hong Kong media Ta Kung Pao that the measurement of the value of cryptocurrencies is still measured by the US dollar. As a means of payment that is different from the traditional decentralized means, it is a supplement to the traditional fiat payment function. From this perspective, cryptocurrencies have some of the monetary attributes and characteristics of the US dollar.
The Hong Kong Association of Banks wrote an article in the Hong Kong media Ta Kung Pao, "Digital Banks Join the Web 3.0 Wave", revealing that Hong Kong digital banks have completed more than 100 "fintech regulatory sandbox" tests through the HKMA in the past four years, accounting for more than 40% of the total sandbox test cases. In addition, individual Hong Kong digital banks have begun to provide reserve banking services for stablecoin issuers, and some digital banks have the ability to act a...
According to official news, Animoca Brands plans to launch GEN3 Playground at K11 Musea in Kowloon, Hong Kong in November. Participants will have the opportunity to explore multiple Animoca Brands projects, including Anichess, Cosmic Bomber, Mocaverse, Motorverse, The Sandbox, TOWER Ecosystem, and more.
Fu Rao, executive director of the Hong Kong International New Economics Research Institute, wrote an article in Ta Kung Pao entitled "The Virtual Asset Ecosystem is Changing", which pointed out that Vitalik mentioned in TOKEN2049 that it is now in the early stage of the real availability of crypto technology, and that crypto technology is gradually maturing and being more widely used. It is worth noting that the US Federal Reserve has cut interest rates...
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...
Fu Rao, executive director of the Hong Kong International New Economic Research Institute, wrote in the Ta Kung Pao article "Improving the Healthy Development of the Virtual Asset Supervision Industry", pointing out that the Supreme People's Court and the Supreme People's Procuratorate of China jointly issued a report on the handling of laundering...
On August 15, according to the Hong Kong Ta Kung Pao, Hong Kong is accelerating the establishment of a regulatory system for stablecoin issuers, and recently released a public consultation summary on stablecoin supervision. The report points out that the next stage of development of Web 3.0 in Hong Kong and around the world focuses on breaking down the barrier between the virtual world and the real world, allowing assets and funds to flow freely between the two systems. and...
Wang Long, chairperson of the Greater Bay Area Financiers Association, published an article "Web 3.0 promotes financial product diversification" in Ta Kung Pao, which pointed out that although the ETF market in Hong Kong is still in the development stage compared with the United States, it has established a mature structure, including exchanges, market makers, primary and secondary custodians, etc. The Hong Kong Securities Supervision Commission has approved 6 and 14 virtual asset spot ETFs, inc...
According to Hong Kong media Ta Kung Pao, Hong Kong's investment 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 the virtual asset market was expanded earlier than Hong Kong, both Japan and Australia need to pay asset value-added tax. The relevant tax will be included in the comprehensive tax rate calculation. In Japan and Australia, the comprehensive tax rate can be as high as 50...