Hong Kong's New Crypto Regulation: Will It Attract the Industry? - Ep. 505

Unchained

Laura Shin

News, Tech News, Business News

4.6 • 1.3K Ratings

🗓️ 13 June 2023

⏱️ 75 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

On June 1, Hong Kong implemented new crypto regulations to license exchanges. Two experts – Angelina Kwan, CEO of Stratford Finance (and former COO of BitMEX), and Adrian Lai, founder and managing partner of Newman Capital – weigh in on the new rules in Hong Kong, which tokens can be listed, recent reports that China may be sanctioning this activity, and how the crypto community is responding so far. Plus, they dissect the latest developments of the digital yuan, whether China will ever embrace public blockchains, and the shifting global regulatory landscape for crypto, and more. Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Stitcher, Castbox, Google Podcasts, TuneIn, Amazon Music, or on your favorite podcast platform. Show highlights: Angelina’s and Adrian’s backgrounds in crypto in Hong Kong how crypto in Hong Kong has evolved over the years what the new Hong Kong Securities and Futures Commission (SFC) rules consist of, including which tokens will be allowed in the newly licensed exchanges how the Hong Kong Monetary Authority (HKMA) has taken onboarding crypto companies in the banking system very seriously why Angelina says that crypto companies have already stopped leaving Hong Kong how some people are worried how a potential crackdown on crypto in China could affect Hong Kong why the SFC has committed to issuing a paper on tokenization and why it is particularly interested in real estate the importance of the development of the digital yuan whether the new regulations in Hong Kong mean that China is prepared to adopt crypto in the mainland how China is 'excelling' at adopting real-world use cases, according to Angelina why you can't say “NFTs” in China and why the metaverse represents a “huge problem,” according to Adrian whether China will let public blockchains succeed how the global regulatory landscape has been changing and what it means for the future of digital assets whether Africa is the next frontier of growth and what role the Middle East is playing Thank you to our sponsors! Crypto.com TOKEN2049 Guests: Angelina Kwan, CEO of Stratford Finance Adrian Lai, founder and managing partner of Newman Capital Links CoinDesk: Hong Kong Securities Regulator to Accept License Applications for Crypto Exchanges Starting June 1 How Hong Kong Is Gearing Up to Regulate Stablecoins Cointelegraph: Hong Kong’s regulatory lead sets it up to be major crypto hub China doles out millions in digital yuan in bid to boost adoption: Report Chinese city public servants to receive digital yuan salaries starting May TechCrunch: Hong Kong’s crypto rules help it fit in more than stand out, but experts say that’s good A peek into China’s stance on web3 CNBC: One country, two crypto systems: Hong Kong harbors crypto hub ambitions despite China’s crackdown Bloomberg: Hong Kong’s Crypto Hub Ambitions Win Quiet Backing From Beijing Hong Kong Securities and Futures Commission: SFC concludes consultation on regulation of virtual asset trading platforms South China Morning Post: Hong Kong’s crypto market will not have ‘light-touch regulation’, HKMA chief says as city prepares new rules Forkast: China: Zhengzhou City proposes metaverse plan Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Hi, everyone. Welcome to Unchained, your no-hi pre-sourced for all things crypto. I'm your host,
0:08.4	Laura Shinn, author of The Crypto Beans. I started covering crypto eight years ago, and as
0:13.0	the senior editor of Forbes was the first main tree meter porter to cover cryptocurrency
0:16.6	full-time. This is the June 13th, 2023 episode of Unchained. Asians buzzing, and everyone's going
0:23.2	to token 2049 Singapore on September 13th to 14th. Bolognese Rene Vossin, Mike Novogratz,
0:29.8	Arthur Hayes, and 200 others will hit the stage, joining over 10,000 attendees. Visit token2049.com
0:36.8	for 65% off with the code Unchained. Link in the description. Buy, trade, and spend crypto on
0:43.6	the Crypto.com app. New users can enjoy zero credit card fees on crypto purchases in the first
0:49.6	seven days. Download the Crypto.com app and get $25 with the code Laura. Link in the description.
0:57.3	If you've been enjoying Unchained and find the discussions here fascinating,
1:00.8	mind-blowing, or as crypto tends to be, downright bonkers, please share this episode with a friend
1:06.5	to keep the conversation going. Today's topic is the state of crypto regulation in Hong Kong.
1:12.0	Here to discuss our Angelina Kwan, CEO of Stratford Finance, and Adrian Ly, founder and managing
1:17.7	partner of Newman Capital. Welcome Angelina and Adrian. Hi, Laura. Hello. Good to see you.
1:24.5	Unchained first, Hong Kong implemented new crypto regulations that are welcoming to the
1:28.6	industry in various ways. We're going to unpack these and what it could all mean for crypto,
1:33.6	but first let's give everyone your backgrounds so they understand your perspectives on the market
1:38.6	and know your experience with crypto in Hong Kong. Angelina, let's start with you.
1:43.1	Thanks, Laura. I've spent most of my career either in compliance roles, setting up compliance
1:49.7	functions, as well as COO roles. I spent a number of years at the Securities and Futures Commission in
1:56.5	Hong Kong as a directive enforcement, as well as a directive supervision of markets,
2:01.2	and I set up the compliance function at Hong Kong exchanges and glaring. So I've spent quite
	...

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