Michael Wong

SEC’s Uyeda Urges Unified Approach to Crypto Trading

The US Securities and Exchange Commission’s (SEC) Crypto Task Force convened its second roundtable in Washington, D.C., spotlighting the challenges and opportunities surrounding crypto trading in the United States. Acting Chairman Mark T. Uyeda, addressing an audience of regulators, industry representatives, and legal experts, drew… Read More

UAE Central Bank’s Gold Reserves Rise 7% in January; Deposits, Foreign Reserves Expand

The gold reserves of the Central Bank of the United Arab Emirates rose 7% in January to AED24.571 billion ($6.69 billion), up from AED22.981 billion in December 2024, according to data from the central bank’s monthly statistical bulletin. The rise in gold holdings was part… Read More

Malaysia, Thailand Forge Cyber Shield Against Rising Digital Threats

Bank Negara Malaysia (BNM) and the Bank of Thailand (BOT) have solidified their commitment to regional financial security by entering into a memorandum of understanding (MoU) aimed at significantly enhancing cybersecurity measures and combating the escalating threat of digital fraud. The agreement, formally executed by… Read More

HK Investment Corporation Partners with WeLab to Boost AI in Asian Fintech

Hong Kong Investment Corporation Ltd (HKIC) and fintech platform WeLab announced a strategic partnership to accelerate artificial intelligence (AI)-driven financial services, aiming to promote digital financial inclusion across Asia. The collaboration will enable WeLab to expand its exploration of AI applications, including developing innovative AI… Read More

HK Authorities Enhance Fight Against Financial Crime

The Hong Kong Monetary Authority (HKMA), Hong Kong Police Force (HKPF), and The Hong Kong Association of Banks (HKAB) jointly announced a series of measures aimed at enhancing the prevention and detection of financial crime, including fraud and money laundering. Authorities are responding to a… Read More

Hong Kong Reports 2.4% Rise in SVF Accounts for Q2 2024

Hong Kong City

The Hong Kong Monetary Authority (HKMA) released statistics for the second quarter of 2024 on stored value facility (SVF) schemes, showing continued growth in both usage and transaction value. By the end of Q2 2024, the total number of SVF accounts in use reached 75.36… Read More

UAE Issues New Tax Rules for Investment Funds to Boost Investor Confidence

The United Arab Emirates has issued a new decision revising the tax treatment of investment funds and limited partnerships as part of its ongoing efforts to enhance the country’s investment climate and align with global best practices, the Ministry of Finance said. Cabinet Decision No…. Read More

eToro Shelves IPO Plans Amid Market Volatility – Report

Israeli trading platform eToro has put its initial public offering (IPO) plans on hold due to market uncertainty linked to the trade war started by US President Donald Trump, US news website Axios reports. The Yoni Assia-led company had been scheduled to begin investor meetings… Read More

Thailand to Fast-Track Digital Asset and Cybercrime Laws Ahead of Songkran

Thailand’s Digital Economy and Society (DES) Ministry will present two draft laws — the Royal Decree on Digital Assets and the Royal Decree on Cybercrime Prevention and Suppression — for Cabinet approval on April 8, with expectations that the laws could come into force before… Read More

NFT Marketplace X2Y2 to Shut Down on April 30 After Three Years of Operation

Non-fungible token (NFT) marketplace X2Y2 will shut down its trading platform on April 30, 2025, ending a three-year run amid declining volumes and intensifying competition in the digital collectibles market. The platform’s front-end interface will go offline, though its smart contracts will remain active, allowing… Read More

IFC Leads $42 Million Debt Package for Romania’s Agricover Credit to Boost Rural, Women-Owned Agri-Businesses

The International Finance Corporation (IFC), a member of the World Bank Group, is providing a $42 million equivalent debt financing package to Agricover Credit IFN, Romania’s largest non-bank financial institution focused on agriculture, to improve access to funding for micro, small, and medium enterprises (MSMEs)… Read More

Singapore’s MAS Proposes Framework to Open Private Market Funds to Retail Investors

The Monetary Authority of Singapore (MAS) has launched a public consultation on a proposed regulatory framework to expand retail investors’ access to private market investment funds, the central bank said. Under the current regulations, retail investors in Singapore have limited opportunities to invest in private… Read More

South Korea’s Virtual Asset Investors Top 16 Million

South Korea’s cryptocurrency market continues to grow, with the number of virtual asset investors surpassing 16 million, nearing the total number of stock investors in the country, news agency Yonhap reported. Data submitted to Rep. Cha Gyu-geun of the minor opposition Rebuilding Korea Party indicated… Read More

Malaysia Picks 7 Crowdfunding, P2P Platforms for NIMP2030 Co-Investment Fund

Malaysia’s Ministry of Investment, Trade and Industry has selected seven Equity Crowdfunding (ECF) and Peer-to-Peer (P2P) financing platforms to participate in the New Industrial Master Plan (NIMP2030) Strategic Co-Investment Fund (CoSIF), according to local reports. The program aims to support companies in high-tech and high-impact… Read More

Hong Kong Picks 23 Senior Execs for Financial Leaders Programme 2025

The Hong Kong Academy of Finance (AoF) announced the selection of 23 senior executives for its Financial Leaders Programme (FLP) 2025, underscoring its commitment to developing future financial leaders within the territory. The participants represent a diverse range of sectors in Hong Kong’s financial industry,… Read More

Panama Unveils Crypto Regulation Bill

Panama has introduced a draft bill to regulate cryptocurrencies and establish a legal framework for blockchain-based services, aiming to position itself as a fintech leader in Latin America. The proposed legislation recognizes cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), and stablecoins as valid payment methods… Read More

Thai SEC Sues Digital Asset Exchange OKX for Unlicensed Trading

Thailand’s Securities and Exchange Commission (SEC) has filed a criminal complaint against Aux Cayes FinTech Co. Ltd., operator of digital asset exchange platform OKX, and nine associated individuals for allegedly running an unlicensed digital asset exchange, the regulator announced. The complaint, lodged with Thailand’s Economic… Read More

IFC Backs SeaMoney’s Digital Lending in Thailand with $75m Investment

The International Finance Corporation (IFC), a member of the World Bank Group, has proposed an investment of up to $75 million in a senior tranche of asset-backed securities (ABS) to support digital lending operations by SeaMoney (Capital) Co Ltd in Thailand. The senior tranche will… Read More

South Carolina Proposes Bitcoin Reserve to Hedge Against Inflation

South Carolina’s House of Representatives has introduced a bill that would allow the state treasurer to establish a Bitcoin reserve as part of a broader effort to hedge against inflation and diversify state funds. The proposed Strategic Digital Assets Reserve Act, sponsored by Representative Jordan… Read More

Algeria Grants Country’s First Crowdfunding License to Yinvesti

Algeria’s stock market regulator has granted a definitive license to Yinvesti, recognizing it as the country’s first officially approved securities crowdfunding platform, the Commission for the Organization and Supervision of Stock Market Operations (Cosob) said. The license allows Yinvesti to operate as an investment advisory… Read More

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