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The Hong Kong Special Administrative Region government has launched a public consultation on the implementation of the crypto asset reporting framework and amendments related to the Common Reporting Standard. The Secretary for Financial Services and the Treasury, Mr. Hui Cheng-yu, said that to demonstrate Hong Kong's commitment to promoting international tax cooperation and combating cross-border tax evasion, and to fulfill its international obligations, we will amend the Inland Revenue Ordinanc...
The Securities and Futures Commission (SFC) today released a financial review report on the securities industry, which states that the total reported commission income from virtual asset trading in the first half of 2025 was HK $127.90 million, an increase of HK $500,000 compared with the second half of 2024, while the net commission income from securities trading, futures and options trading, leveraged foreign exchange trading and virtual asset trading and total interest income increased by 4% ...
Yunfeng Financial, which is indirectly held by Ma Yun, announced that it will issue a total of 191 million new shares in the old-before-new way, with a matching price of HK $6.1 per share and a total of approximately HK $1.17 billion. The purpose of this placement is to expand the company's shareholder and capital base, and increase the liquidity of the company's shares in the market. The amount of funds raised this time is mainly used for the upgrade of the group's system facilities, talent rec...
Virtual asset trading and intermediary business will be removed from the venture enterprise restricted industry. The Ministry of Small and Medium-sized Enterprises and Start-ups of South Korea (referred to as the "Ministry of Small and Medium-sized Start-ups") said on the 9th that at the state conference held at the Yongsan Presidential Palace, it reviewed and approved some amendments to the "Special Law on Cultivating Venture Enterprises" including the above content. The amendment will be effec...
In his speech at a forum event on June 21, Hong Kong's Financial Secretary Paul Chan said that there has been a strong market interest in digital assets recently, especially the issuance of stablecoins, which has aroused heated discussions. As an international financial center, Hong Kong must continue to reform and innovate to continuously enhance our competitive advantage. We embrace the development of digital assets and have accelerated the improvement of the relevant legal and regulatory fram...
Uphold CEO Simon McLoughlin said the company is currently exploring an initial public offering (IPO). McLoughlin said, Uphold's board has hired FT Partners to explore strategic options, including an IPO in the United States or a sale to another company. While McLoughlin would not comment on the valuation, one person familiar with the matter put it at more than $1.50 billion. FT Partners did not respond to a request for comment.
According to the Hong Kong Stock Exchange documents, the Hong Kong-listed company BTC Universe announced the completion of the placement of new shares under the general mandate, and the conditions set out in the placement agreement were reached on March 26. A total of 36,504,000 placement shares were sold to not less than six placements at HK $0.41 per placement share. The net proceeds from the placement were approximately HK $14.60 million, which will be used to apply for the relevant licenses ...
Hong Kong-listed company Bit Universe announced that it has entered into a Placing Agreement with the Placing Agent, intending to place up to 40 million Placing Shares to not less than six Placers through the Placing Agent, each Placing Share is HK $0.41, a discount of about 19.61% from the closing price of HK $0.510 per share on the day, and the maximum net raise is HK $16 million. The company intends to use all the net proceeds from the Placing to apply for relevant licenses required to operat...
The Central Seoul Police Department is hunting a criminal gang that used virtual asset trading as a pretext for robbery. The gang threatened the victim with violence and forcibly snatched a bag containing about 180 million won in cash from an apartment office in the central district of Seoul on the 23rd. The victim, who was planning to conduct face-to-face virtual asset trading in his office at the time of the crime, refused to hand over the money to the gang, saying "I haven't received the coin...
South Korea's financial authorities advised banks not to issue virtual asset exchange accounts to businesses and institutions. The decision was made on the grounds that extending this privilege to corporate entities would pose a higher risk of money laundering, and an intelligence unit within the Financial Services Commission (FSC) and the South Korean Ministry of Education supported maintaining the ban.
