Hongkong

Listen, an interesting thing has happened in the world of cryptocurrencies: Hong Kong has officially allowed the first broker from mainland China to trade digital assets. This broker is Guotai Junan Securities (Hong Kong), a subsidiary of the large financial structure Guotai Junan International, which operates in mainland China.
What happened? They were granted an updated license from the Hong Kong Securities and Futures Commission (SFC). Previously, this company already had a type 1 license — it allowed trading in ordinary securities. Now they have been officially allowed to trade cryptocurrencies, and in full compliance with local laws and as part of an agreement with licensed virtual asset platforms. That is, their customers can now buy and sell bitcoins, ethereums and stablecoins through this platform — absolutely legally.
This is actually a big step — and not just for the company. Hong Kong has long sought to become a crypto hub in Asia and create a transparent and reliable market for digital assets. And the approval of such a major player suggests that the region is betting on institutional investors, not just retail traders.
Moreover, it is also a political signal. Although China maintains a tough position within the country towards cryptocurrencies, it makes it clear through Hong Kong that digital finance is the future, and it cannot be abandoned altogether. A kind of "dialogue" is beginning between traditional banks and the cryptocurrency sector, but within the framework of strict regulation.
So, in fact, Guotai Junan became the first to follow this new route. And, most likely, others will catch up with them.
Now the question is: if even such large and cautious players as Chinese brokers start entering the crypt legally and with regulatory approval, maybe this is a sign that the crypt is really becoming part of the future financial system?
#CryptoNewss #cryptocurrency #HongKong #crypto

🔹 The Hong Kong Monetary Authority (HKMA) stepped back into the foreign exchange market to defend the city's long-standing currency peg to the U.S. dollar. The Hong Kong dollar slipped below the lower bound of HK$7.85 per USD, triggering immediate action from the central bank.
🔹 In response, HKMA sold HK$9.4 billion (approximately $1.2 billion USD) from its reserves to buy back the local currency and push its value up. This move also reduced liquidity in the banking system, pushing up interbank interest rates—significantly complicating the popular carry trade strategy, where investors borrow in low-interest Hong Kong dollars and convert them into higher-yielding U.S. dollars.

Cheap Hong Kong Dollar Bets Get More Expensive
📉 Until recently, traders could cheaply borrow Hong Kong dollars, convert them into U.S. dollars, and pocket the yield difference. But May and June’s extreme volatility brought this game to a halt. With tighter liquidity and rising interest rates, HKMA is rewriting the rules.
📌 During the previous intervention in May, HKMA faced the opposite issue—a strengthening Hong Kong dollar. Back then, they injected more HKD into the market, slashing lending rates close to zero and fueling a speculator’s dream. Now, the situation has reversed, and the environment is getting much tougher.

Peg Under Scrutiny, but No Changes for Now
📊 Hong Kong’s currency peg, in place since 1983, is a cornerstone of the city's financial system. But May 2025 saw the steepest drop in the HKD since the peg was established, raising questions about its long-term sustainability. Despite this, Chief Executive John Lee Ka-chiu made it clear in early June: the peg isn’t going anywhere.
💬 “Maintaining the peg is crucial to our financial credibility,” Lee stated, aiming to calm market speculation.

Hong Kong Has the Firepower, But the Pressure Remains
💰 With foreign currency reserves exceeding $431 billion, HKMA has ample ammunition to defend the peg. However, carry trades remain tempting—the gap between U.S. and Hong Kong one-month interest rates is currently around 3.4%, drawing global investors into the game.

🧭 While the Hong Kong dollar has returned to its target range, the real question is: How long can it stay there?

#HongKong , #dollar , #economy , #worldnews , #forex

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Hong Kong just launched a new #Crypto plan called Policy 2.0 with a system called LEAP.
What does it mean?
✅ Start giving licenses for #Stablecoins from August 1, 2025
✅ Make it easier to turn real things (like gold, bonds, energy) into tokens
✅ Set clear rules for crypto exchanges and wallets
✅ Support new crypto projects and train more people

#HongKong wants to become a top country for crypto and Web3.
This is a big step for the future of digital money.

$BTC $ETH

#HongKong
VMS opted for Re7’s market-neutral crypto strategy to gain exposure with lower risk, avoiding direct bets on tokens like Bitcoin.
VMS Group, a Hong Kong multifamily offices with deep roots in private equity, is making its first push into digital assets as clearer regulations and institutional momentum pull traditional investors into the crypto space.
Bloomberg reported Tuesday that the firm, which manages nearly $4b for some of the city’s wealthiest families, plans to allocate up to $10m to Re7 Capital, a London-based hedge fund focused on decentralized finance strategies.
VMS managing partner Elton Cheung said the move reflects a shift in how the firm approaches liquidity and diversification.
Founded two decades ago, the Hong Kong firm has historically focused on private equity and long-term bets across sectors such as property, pharmaceuticals and technology.
But with companies staying private longer and exits becoming harder to time, the firm is now leaning into more liquid strategies, including digital assets.ù

VMS Chooses Hedged Approach to Crypto Over Direct Token Holdings
“We thought this was the right time because of growing demand and because we see clearer legislative and government support from various jurisdictions, as well as large institutional support and endorsement,” Cheung told Bloomberg. He did not disclose specific clients.
Instead of buying volatile tokens like Bitcoin, VMS chose to work with Re7, which offers a market-neutral strategy.
The fund earns yield by providing liquidity on decentralized exchanges and lending stablecoins, while hedging to reduce price swings. That approach aligns more closely with the risk frameworks of legacy family offices that are seeking exposure without speculative downside.
“The reason investors keep coming back to crypto is the asymmetry of risk and return,” said Re7 founder Evgeny Gokhberg. “Typically, people think about asymmetry in crypto as ‘lose it all or make a 100x.’ That’s rarely a fit for a serious allocator with a reputation to lose.”
Re7, founded in 2021, claims to have consistently delivered double-digit returns, though it did not disclose exact figures.

Next-Gen Wealth Influences Hong Kong Family Office’s Shift Toward Broader Digital Asset Adoption
VMS’ crypto strategy goes beyond hedge fund exposure. Zhi Li, who joined the firm in December to lead digital asset investments from London, said the team is studying broader applications, including blockchain payments and infrastructure.
One current area of interest is integrating crypto-based transactions at a real estate development the firm operates in Vietnam.
“There is very strong institutional and family interest in getting regulated digital asset exposure,” said Li. “We have seen the younger generation of families wanting to do something different.”
As family offices evolve to serve new wealth dynamics and generational preferences, VMS’s entry into crypto reflects a broader shift. Once reluctant, legacy capital is now stepping into digital assets, not for hype, but for structure, yield and strategic positioning.

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政策冲击波：十亿级法币流动直穿加密暗池​​

6月22日，香港“转数快”与大陆IBPS系统正式打通，​​全球首个国家级即时跨境支付通道“跨境支付通”即将上线​​

核心机制三点爆破：

​​零摩擦汇款​​：仅需手机号即可完成跨境转账，24小时到账，单日北向限额1万港元（独立于现有8万人民币同名汇款）

​​民生场景全覆盖​​：学费、医疗费、薪酬发放等小额高频场景优先渗透，香港居民年汇款上限20万港元，大陆居民南向额度挂钩5万美元购汇红线

​​银行白名单制​​：工行、建行、招行等12家中资港资银行首批接入，反洗钱监控直接嵌入底层协议

​​暴论预警​​：这不仅是支付工具升级，更是​​国家机器对灰色资金流的精准绞杀​​——当法币跨境流动比USDT还快，场外OTC的生存空间还剩多少？

​​币圈生死劫：USDT洗牌与合规反扑​​

跨境支付通对加密市场产生三重定向爆破：

​​OTC黑市萎缩​​：香港OTC商日均交易量约3.5亿美元，其中超60%为大陆用户通过虚拟号段完成。支付通上线后，小额资金将回归银行体系，预计首月冲击OTC交易量下降25%-30%

​​稳定币套利瓦解​​：港币-人民币跨境汇差长期存在（约1.2%-1.8%），支付通实时汇率结算将压缩USDT/HKD套利空间，尤其打击P2P场外交易商

​​合规反身性​​：大陆用户南向汇款需遵守5万美元购汇额度，但支付通允许港币直汇（避开人民币管制），或刺激港交所持牌加密基金吸纳大陆资金

​​政策套利窗口​​

​​南向漏洞​​：香港居民可接收大陆人民币汇款并兑换为港币，利用离岸汇率差套利；
​​北向通道​​：大陆用户通过香港亲属账户接收港币，绕开5万美元购汇限制（需承担3%-5%通道费）

​​终极推演：国家稳定币的野望​​

跨境支付通本质是​​数字人民币的沙盒实验​​——通过打通港币与人民币即时兑换，测试央行数字货币（CBDC）的跨境流动性管理能力。若试点成功，两大趋势不可避免：

​​合规稳定币牌照化​​：香港可能批准挂钩离岸人民币（CNH）的合规稳定币，与数字人民币形成互补；
​​交易所“管道化”​​：币安等平台或被迫接入央行清算系统，成为国家数字货币的二类分发节点。

#HongKong #央行数字货币

🔍 The Securities and Futures Commission (SFC) of Hong Kong has released a comprehensive policy statement that reshapes the regulatory landscape for:

- Virtual asset (VA) portfolio managers,
- Crypto-focused investment funds and distributors,
- Exchanges and trading platforms operating with digital assets.

🚨 What’s it about?

The SFC is introducing mandatory licensing and compliance standards for crypto-related activities — even if the tokens involved don’t qualify as “securities” under traditional legal definitions.

🔑 Key Highlights:

1. VA Funds and Managers:

Any fund with ≥10% of AUM in crypto must:

- Be licensed,
- Follow strict rules on custody, audits, disclosures, and AML/CFT,
- Serve professional investors only.

2. Fund Distribution:

- Distribution of VA funds (whether or not they include “securities”) is restricted to licensed Type 1 intermediaries.
- Full compliance with suitability and disclosure obligations is required.

3. Crypto Exchanges and Platforms:

The SFC is launching a Regulatory Sandbox for platforms willing to meet high regulatory standards.
Key conditions include:

- Access restricted to professional investors,
- Pre-funded trades only (no margin, no derivatives),
- Robust KYC/AML, custody rules, anti-manipulation safeguards,
- Mandatory insurance (100% hot wallet, ≥95% cold wallet).

📊 Why Does This Matter?

- A gateway to Asia’s Web3 market: Hong Kong aims to become a regulated crypto hub.
- Grey zones are closing: Unlicensed players risk exclusion.
- Reputation matters: SFC licensing can be a major credibility boost for projects, especially when seeking exchange listings or capital.

⚖️ Final Note from Legal Kornet

Legal Kornet monitors key regulatory developments across Hong Kong, the EU, the U.S., and other major jurisdictions. We support projects, funds, and platforms in aligning with SFC requirements — including navigating the licensing process and the Regulatory Sandbox.

#CryptoLaw #SFC #HongKong #CryptoCompliance #Web3

🏦 August Shockwave: Hong Kong’s Stablecoin Law Is Coming – What It Means for You and Bitcoin 🚀📈

Hong Kong is making big waves in the crypto world with a brand-new Stablecoin Ordinance set to kick in on August 1. The law will officially regulate stablecoins—cryptos that are tied to real-world currencies like the US Dollar or Chinese Yuan. Financial Secretary Paul Chan Mo-po says this step puts Hong Kong at the forefront of digital asset innovation, aiming to attract global investors and strengthen the region’s financial power.
This ordinance will let licensed companies issue stablecoins backed by multiple currencies, giving users more choice and making it easier for people and businesses to use stablecoins across borders. Experts believe this will increase competition, push financial innovation, and open the doors for new types of tokenized assets and trading platforms 💹. Big players in the financial space, like Futu Securities, are already seeing a surge in demand from investors interested in stablecoins.
At the same time, Bitcoin’s price is booming, jumping over 25% in the last 90 days, now hovering around $105K! Analysts say Hong Kong’s move could lead the way for other countries to follow, creating a global model for stablecoin regulations. If you're into crypto or digital finance, this could be the start of something massive. 🌐🔥

#StablecoinRevolution #stablecoin #HongKong $USDC