Tag "regulation"

South Korea Eyeing to Grant More Virtual Banking Licenses

South Korea’s Financial Services Commission (FSC), the government’s top financial regulator, will resume a new round of procedures for granting preliminary approval for digital banks, the FSC said on July 17. Earlier this year, the FSC said it intended to

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New Study Highlights Price Manipulation, Scams and Fraud in Crypto Market

A new report by finance and accounting professor Paul Barnes released in November 2018 explores the cryptocurrency market, highlighting its susceptibility to speculative bubbles, manipulation, scams and fraud. The paper, which was presented at a blockchain and cryptocurrency conference organized

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Virtual Banks to Shake up Hong Kong Banking Landscape

Hong Kong is gearing up for the arrival of virtual banks, or financial institutions without physical branches. The Hong Kong Monetary Authority (HKMA) is set to issue the first batch of virtual bank licenses as early as this year. The

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Government Efforts Push Fintech Innovation In Guangzhou

China is undeniably the world leader in fintech, hosting some of the most innovative and successful companies in the sector, including Alibaba’s Ant Financial worth a whopping US$150 billion and Lufax, China’s largest online wealth management platform worth an estimated

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Hong Kong Remains ICO Crypto Hub Despite Regulator Skepticism

The Hong Kong Securities and Futures Commission (SFC) has taken a critical tone on initial coin offerings (ICOs), qualifying many of these as “dubious, if not downright frauds.” In a speech at the Hong Kong Investment Funds Association on April

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Hong Kong Pushes Fintech Innovation

The Hong Kong government will be allocating HK$500 million over the next five years to support its financial services industry, including the development of fintech, Hong Kong’s financial secretary Paul Chan said on February 28. In his annual budget speech,

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Crowdfunding Fails To Take Off In Hong Kong

In recent years, crowdfunding has emerged as a popular way for individuals, startups and businesses to raise funding from a global audience of investors. Crowdfunding refers to the practice of funding a project or venture by raising money from a

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Hong Kong Welcomes New Fintech Regulations And Initiatives

Hong Kong is ramping up its support for fintech and insurtech innovation with new rulings and bold initiatives that are intended to accelerate development and facilitate collaboration. Many of these initiatives are being undertaken by the Hong Kong Monetary Authority

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New Report Addresses The Challenges And Opportunities In Taiwan’s Fintech Industry

Although the fintech market in Taiwan is relatively small and still at a very early stage of development, there is huge potential for growth considering Taiwan’s large pool of highly educated and tech-orientated workforce, vigorous entrepreneurship spirit and sophisticated ICT

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Fintech: New Report Urges Hong Kong To Take Proactive Steps

Fintech is set to transform the financial services landscape and presents both opportunities and challenges. But for Hong Kong to capitalize on the trend and become a leading fintech center within the region and one of the leading centers in

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