News & Analysis as of

Hong Kong Cryptoassets Cryptocurrency

K&L Gates LLP

Asset Management Regulatory Year in Review 2024

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2024 was a year of meaningful regulatory change for asset managers globally. The regulatory activity was wide ranging and without a particular unifying theme. In fact, the wide, and in cases diverging focuses of key global...more

K&L Gates LLP

First JPEX Judgement by a Hong Kong Court in Favor of Customers

K&L Gates LLP on

On 29 October 2024, the Hong Kong District Court issued the judgment of the first legal action (Chan Wing Yan and Another v. JP-EX Crypto Asset Platform Ltd and Others [2024] HKDC 1628) against JPEX, which the Hong Kong...more

Akin Gump Strauss Hauer & Feld LLP

Hong Kong Court Confirms Cryptocurrency is “Property” in Landmark Ruling

The Hong Kong High Court (“Court”) has, for the first time, confirmed that cryptocurrencies constitute “property” under Hong Kong law and are capable of being held on trust. The landmark ruling of Re Gatecoin Limited (In...more

Hogan Lovells

A whole new world – Hong Kong court declares crypto assets are property and can be held on trust

Hogan Lovells on

A Hong Kong court has for the first time declared that cryptocurrencies are property and capable of being held on trust. In a landmark ruling, the Honourable Madam Justice Linda Chan, in Re Gatecoin Limited [2023] HKCFI 91,...more

Hogan Lovells

A new licensing regime for stablecoins in Hong Kong

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In January 2022, the Hong Kong Monetary Authority issued a Discussion Paper on Crypto-assets and Stablecoins, inviting industry comments on the regulatory approach of crypto-assets, in particular payment-related stablecoins....more

BakerHostetler

White House Issues Statement on Crypto; Bitcoin ETF Rejected; OFAC Sanctions Public Keys; Regulators Address Digital Assets;...

BakerHostetler on

White House Addresses Crypto Risks; Blockchain Firm Wins Air Force Contract - The White House issued a statement last week briefly outlining the Biden administration’s road map to mitigate the risks of cryptocurrencies,...more

Conyers

BVI to Introduce the Virtual Assets Service Providers Act

Conyers on

The British Virgin Islands (“BVI”) is proposing to introduce virtual assets service provider (“VASP”) legislation and has recently circulated a draft bill in the form of the Virtual Assets Service Providers Act, 2022 (the...more

Hogan Lovells

Virtual Asset Snapshot – Hong Kong

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The Regulation of Virtual Assets in Hong Kong – nature, features and risk determine treatment Regulation of virtual assets (including cryptocurrencies) (“VA”) in the Hong Kong Special Administrative Region (“Hong Kong”) has...more

Hogan Lovells

The US$4.5 billion Bitfinex hack – five things you should know

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The hack of the Hong-Kong based crypto-exchange Bitfinex has been described as the “heist of the century”. Where a crypto-asset is in play in litigation, in particular as a potential target for enforcement, parties should be...more

Latham & Watkins LLP

Hong Kong’s New Crypto Regulatory Framework to Facilitate Greater Institutional Participation

Latham & Watkins LLP on

Regulators released comprehensive guidance to banks, intermediaries, and insurers on virtual asset-related activities. Key Points: ..Banks and intermediaries looking to provide distribution, dealing, and advisory...more

Hogan Lovells

Hong Kong Monetary authority to regulate stablecoins

Hogan Lovells on

The Hong Kong Monetary Authority has issued a Discussion Paper on Crypto-assets and Stablecoins in January 2022.  The Discussion Paper includes guiding principles of a contemplated regulatory regime for payment-related...more

Latham & Watkins LLP

Hong Kong Fintech Week 2020: SFC Announces New Crypto Regulatory Regime for Virtual Asset Exchanges

Latham & Watkins LLP on

Hong Kong’s Securities and Futures Commission’s introduces new licensing regime to regulate previously unregulated markets and restates expectations regarding security token offerings. The second day of Hong Kong Fintech...more

Katten Muchin Rosenman LLP

Bridging the Weeks - July 2019 #2

The United Kingdom’s Financial Conduct Authority proposed to ban the marketing and sale in or from the UK to retail persons of derivatives and exchange-traded notes based on cryptocurrencies and utility digital tokens,...more

Katten Muchin Rosenman LLP

Bridging the Week - November 2018

During the prior two weeks, three financial authorities in the United Kingdom as well as the Hong Kong Securities and Futures Commission issued reports assessing distributed ledger technology and risks associated with the...more

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