{ }
Hong Kong is advancing its position as a global crypto hub by streamlining the licensing process for virtual asset trading platforms, with the Securities and Futures Commission (SFC) aiming for initial permits by year-end. The Hong Kong Monetary Authority (HKMA) is also exploring digital bonds and tokenized securities, while discussions about the Exchange Fund's potential crypto interests are gaining traction. Additionally, plans to exempt certain funds and high-net-worth individuals from capital gains taxes on crypto income reflect the city's commitment to fostering a balanced and innovative crypto ecosystem.
The European Central Bank's trials for digital bond issuance revealed increased costs due to legal complexities and reliance on traditional banking systems for settlements. Moody's analyst Marat Faritov emphasized that reducing intermediaries and utilizing onchain mechanisms could lower these costs. Despite the challenges, the tokenized government securities market is expanding, with projections indicating significant growth in assets under management by 2024.
Animoca Brands chairman Yat Siu predicts a resurgence in non-fungible tokens (NFTs), expecting them to surpass their 2021 peak, despite recent declines in sales volumes and project closures. He emphasizes that failures are part of the business cycle and believes NFTs will continue to serve as status symbols, akin to luxury goods, enhancing personal reputation and opportunities.
Shuffle, a Melbourne-based crypto casino launched in February 2023, has quickly become profitable, generating over A$2bn in wagering volume. Co-founder Ishan Haque emphasizes the growing crypto market and the potential for expansion into regions like Brazil, despite complex licensing. The company's success is attributed to superior user experience, strategic marketing through micro-influencers, and the launch of the Shuffle token, which significantly boosted wager volume.
Hong Kong is intensifying its efforts to become a global cryptocurrency hub by streamlining the licensing process for crypto trading platforms. The government aims to create a favorable regulatory environment while ensuring investor protection, with plans for a consultative panel to oversee licensed exchanges and regulations for stablecoins and custody services. This proactive approach positions Hong Kong competitively against other jurisdictions like Singapore, which are also enhancing their crypto frameworks.
World shares showed mixed results as investors awaited a likely interest rate cut from the European Central Bank. While Germany's DAX and Britain's FTSE 100 saw slight gains, U.S. futures dipped ahead of the Federal Reserve's upcoming meeting, where further rate cuts are anticipated to support a slowing economy. In Asia, Chinese shares rose amid government economic plans, while Japan's Nikkei 225 advanced, driven by technology stocks.
Asian shares rose as Wall Street's rally continued, buoyed by an inflation update that suggests potential Federal Reserve support for the economy. The Hang Seng surged 1.7%, while Tokyo's Nikkei 225 gained 1.3%, driven by technology stocks. In the U.S., the S&P 500 climbed 0.8%, with Tesla jumping 5.9% and Stitch Fix soaring 44.3% after better-than-expected earnings.
Asian shares mostly rose, following a Wall Street rally, as U.S. inflation data suggested potential Federal Reserve support for the economy. The Hang Seng surged 1.4%, while the Nikkei 225 gained 1.2%. In the U.S., the S&P 500 climbed 0.8%, driven by tech stocks, despite a slight dip in the Dow.
Asian shares rose Thursday, buoyed by a Wall Street rally and positive inflation updates that may lead to further Federal Reserve support for the economy. The Hang Seng surged 1.7%, while the Nikkei 225 gained 1.3%, driven by technology stocks. In the U.S., the S&P 500 climbed 0.8%, marking its first two-day gain in nearly a month, as inflation ticked up slightly to 2.7% in November.
Asian shares rose Thursday, buoyed by a Wall Street rally and positive inflation updates that may lead to Federal Reserve support for the economy. The Hang Seng surged 1.7%, while Tokyo's Nikkei 225 gained 1.3%, driven by technology stocks. In the U.S., the S&P 500 climbed 0.8%, marking its first two-day gain in nearly a month, as expectations for interest rate cuts fueled market optimism.
Trending
Subcategory:
Countries:
Companies:
Currencies:
People:

MachinaCore is a highly modular and scalable system that allows users to build custom widgets and tools tailored to their specific financial data needs, while seamlessly integrating with other MachinaLabs products, like Machinary, MachinaAI Modules and MachinaTrader.

Address

Waitlist

We’re granting exclusive early access to the first 500 users from december 20.

© 2024 by Machinary.com - Version: 1.0.0.0. All rights reserved

Layout

Color mode

Theme mode

Layout settings

Seems like the connection with the server has been lost. It can be due to poor or broken network. Please hang on while we're trying to reconnect...
Oh snap! Failed to reconnect with the server. This is typically caused by a longer network outage, or if the server has been taken down. You can try to reconnect, but if that does not work, you need to reload the page.
Oh man! The server rejected the attempt to reconnect. The only option now is to reload the page, but be prepared that it won't work, since this is typically caused by a failure on the server.