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Standard Chartered Bank Hong Kong (SCBHK), Animoca Brands, and Hong Kong Telecommunications (HKT) have partnered to establish a joint venture (JV) focused on issuing a Hong Kong dollar-backed stablecoin. The JV intends to apply for a license under the Hong Kong Monetary Authority’s (HKMA) new regulatory framework. HKD-Backed Stablecoin According to the official press release, SCBHK, Animoca Brands, and HKT have engaged in HKMA’s stablecoin issuer sandbox since July 2024. The trio has been assessing how stablecoins can facilitate financial market development and payments by connecting Web3 and traditional finance. The partnership is in line with Hong Kong’s ambition to strengthen its role as a global digital assets hub. By leveraging expertise across banking, telecommunications, and blockchain, the JV aims to create a secure and regulatory-compliant stablecoin framework. The initiative aligns with the city-state’s broader strategy to boost digital finance adoption while ensuring compliance with evolving regulatory requirements. In an official statement, Bill Winters, Group Chief Executive of Standard Chartered, said, “Digital assets are here to stay and the development of different forms of tokenized money is integral to the advancement of this industry. That is why we are actively involved in various Central Bank Digital Currencies, tokenized deposits, and, of course, stablecoins projects. We are introducing solutions and instruments that service this market and meet the growing client demand. As public chain instruments with proven use cases, stablecoins play a critical role in the overall digital asset ecosystem.” Hong Kong Eyes Bitcoin as a Strategic Asset Besides the ambitious stablecoin initiative, Hong Kong is also considering adding Bitcoin (BTC) to its fiscal reserves as a hedge against inflation and a store of value. Wu Jiexhuang, a Hong Kong legislative council member, recently proposed using foreign exchange funds to acquire Bitcoin, citing potential benefits such as attracting talent, boosting the local crypto industry, and increasing tax revenue. He said that leveraging China’s “one country, two systems” framework, adding Bitcoin to Hong Kong’s reserves could give the region an early advantage and help mitigate economic instability from its wider adoption in traditional financial markets. The post Standard Chartered, Animoca, and HKT to Develop HKD-Pegged Stablecoin appeared first on CryptoPotato.

Germany’s upcoming federal election on February 23, 2025, could mark a turning point in the nation’s approach to cryptocurrency and financial innovation. Friedrich Merz, leader of the center-right Christian Democratic Union (CDU), leads the race with a pro-business and innovation-driven platform. His main rival, Alice Weidel of the far-right Alternative for Germany (AfD), advocates for aggressive crypto reforms and full deregulation of digital assets. With Germany’s influential role in European financial policy, the election’s outcome may shape the country’s stance on digital currencies and financial innovation. Friedrich Merz has built his campaign on promises of economic revitalization, pro-business policies, and financial reform. Before entering politics, Merz held prominent financial roles, including chairman of BlackRock Germany’s supervisory board and senior positions at HSBC Trinkaus & Burkhardt. He also served on the boards of Deutsche Börse, EY Germany, and Borussia Dortmund, reinforcing his financial expertise. To address Germany’s economic stagnation, Merz proposes cutting corporate and income taxes, reducing bureaucratic red tape, and expanding venture capital opportunities to establish Germany as a global startup hub. His platform includes creating a ministerial position for artificial intelligence and digitization, aligning with global trends toward technological innovation. While Merz is not an outspoken crypto advocate, his economic policies could indirectly benefit the digital asset industry. His administration would likely support the introduction of a digital euro, but only if it proves beneficial. A recent survey from Germany’s central bank revealed that half of Germans would “definitely” or “probably” use a digital euro, highlighting growing public interest in central bank digital currencies (CBDCs). Merz aims to balance innovation with regulation, maintaining financial stability while encouraging technological growth. Alice Weidel, leader of the AfD, has taken a far more aggressive stance on cryptocurrency and financial reform. Her platform calls for full deregulation of Bitcoin and other digital assets, promoting a decentralized financial system with minimal government oversight. Endorsed by Elon Musk, Weidel’s proposals include Germany’s exit from the euro—an idea that has sparked significant debate within the financial community. Though trailing in the polls, Weidel’s strong pro-crypto rhetoric has resonated with segments of the digital asset community. Her policies, if implemented, would position Germany as one of the most crypto-friendly regulatory environments globally. As reported by CNF, AfD’s push for extensive crypto deregulation stands out in this election, setting the stage for a potential overhaul of Germany’s digital finance laws. Weidel’s radical proposals represent a stark contrast to Merz’s cautious, business-driven approach. Her vision prioritizes financial autonomy and deregulation, which, while appealing to crypto advocates, raises concerns about market volatility and EU relations. As Europe’s largest economy, Germany’s financial policies carry significant weight within the European Union. A Merz-led government would likely pursue a balanced approach, focusing on reducing bureaucracy while cautiously embracing digital innovation. His plans include strengthening the European Capital Markets Union and positioning Germany as a leader in venture capital and startups through tax incentives. Merz’s platform also emphasizes combating financial crime, with proposals to create a customs police force targeting money laundering and financial misconduct. This regulatory focus suggests that, while supportive of financial innovation, Merz would prioritize oversight and market stability. Conversely, Weidel’s approach signals a radical departure from traditional policies. Her aggressive push for crypto deregulation challenges the CDU’s measured stance and could disrupt Germany’s economic alignment with the EU. As discussed earlier by CNF, the president of the Deutsche Bundesbank, Joachim Nagelt, has expressed skepticism toward cryptocurrencies. Speaking at an OMFIF lecture in association with the London School of Economics, Nagel dismissed the idea of Bitcoin as a reserve asset and warned of the uncertain impact of CBDCs on economic policy. Despite this, the Bundesbank remains a strong proponent of the digital euro.

Hong Kong is doubling down on its commitment to becoming a global hub for digital assets, with top officials reaffirming their support for Web3 innovation, fintech, and blockchain development. Speaking at Hong Kong Consensus 2025, Financial Secretary Paul Chan Mo-po emphasized the government’s dedication to fostering a stable, open, and dynamic cryptocurrency market. During his speech , Mo-po highlighted Hong Kong’s substantial investments in digital infrastructure and talent development as key drivers of the city’s growing fintech ecosystem. “Our Cyberport and Science Park have evolved into thriving centers for Web3 innovation and financial technology, while our universities and industry partnerships continue to produce new generations of blockchain experts,” Mo-po stated. He pointed to the emerging intersection of artificial intelligence (AI) and blockchain as one of the most exciting developments for the future. “AI is constantly evolving and is being increasingly applied to finance,” Mo-po said. “Its convergence with blockchain will unlock new use cases, presenting both opportunities to seize and challenges to address. Hong Kong has already outlined a clear policy on AI integration in financial services.” Hong Kong has also introduced favorable regulations to strengthen its position as a leading financial hub, including tax exemptions on crypto gains for hedge funds and private equity firms. These measures aim to attract institutional investors and solidify the city’s reputation as a pro-crypto jurisdiction. Mo-po stressed the need for a strong regulatory framework, highlighting that the failures of several crypto exchanges in recent years serve as a clear reminder of the importance of market integrity, investor protection, and risk management. He stated, “As financial products and services continue to innovate and digitalize, we must remain vigilant against risks related to market integrity, money laundering, and cybersecurity.” Despite its crypto-friendly stance, Hong Kong has been selective in issuing operational licenses. Since the launch of its crypto licensing initiative in mid-2024, the Securities and Futures Commission (SFC) has approved only nine licenses. According to our previous reports , the most recent approvals were granted in January 2025 to Hong Kong-based crypto exchanges PantherTrade and YAX. Meanwhile, Hong Kong’s financial regulator is actively expanding its cryptocurrency roadmap. Last year, the city made headlines by approving Bitcoin and Ethereum exchange-traded funds (ETFs). The Securities and Futures Commission (SFC) is currently evaluating additional regulatory updates, which include listing new tokens exclusively for investors and safeguards for retail crypto offerings. Furthermore, as CNF noted earlier, Hong Kong has also recognized Bitcoin and Ethereum as proof of assets for investment immigration applications. However, applicants must meet strict eligibility criteria, including holding at least HK$30 million (~$3.85 million) in cryptocurrency and storing their assets in a cold wallet or a trusted exchange.

In this post: LTP, an institutional prime brokerage firm, announced that its subsidiary LiquidityTech Limited (LTP HK) acquired five types of HK SFC licenses. The newly acquired licenses will allow LTP HK to deal in securities and futures contracts, advise on securities and futures contracts, and manage assets. LTP HK became the first prime brokerage focused on virtual assets to secure a comprehensive suite of HK SFC licenses. LTP announced today that its subsidiary LTP HK had secured types 1, 2, 4, 5, and 9 licenses from the Hong Kong Securities and Futures Commission (HK SFC). LTP HK became the first prime brokerage to deal in securities and futures contracts, advise on securities and futures contracts, and manage assets. LTP disclosed that LTP HK was now licensed to offer a range of financial services to institutional clients, including proprietary trading firms, hedge funds, asset managers, and corporate investors. According to LTP, the regulatory achievement solidified LTP HK’s credibility and leadership within the dynamic financial services landscape. Jack Young, the founder and CEO of LTP, said regulatory compliance was the ‘fundamental pillar’ of the firm’s institutional prime brokerage services. He added that LTP was committed to serving institutional clients who demanded secure high-performance trading infrastructure. LTP HK increases its financial service offerings with new HK SFC licenses LTP announced that its Hong Kong subsidiary, LTP HK, had gained approval for a type 1 HK SFC license, which allowed the company to deal in securities. LTP HK also received type 2 licensing, allowing it to deal in futures contracts. Types 4 and 5 licenses authorized LTP HK to advise on securities and futures contracts, respectively. The type 9 SFC license allowed LTP HK to engage in regulated asset management. HK SFC recently announced its swift licensing process and revamped the second phase of its assessment of virtual asset trading platforms (VATPs). The agency disclosed that its proactive engagement and enhanced communication with VATPs to provide direct and effective guidance on its expected regulatory standards were key to the swift licensing process. LTP stated that the LTP HK’s approvals from the HK SFC aligned with the company’s commitment to regulatory compliance, institutional-grade services offering, and investor protection. “This regulatory milestone marks a strategic leap forward in our mission to bridge traditional finance with digital asset innovation.” -Ethan Wang, CEO of LiquidityTech Limited (LTP HK) Wang added that LTP HK was set to empower institutions with compliant customer-protected solutions that drove growth in evolving markets as Hong Kong cemented ‘its role as a global hub for financial innovation.’ The HK SFC had earlier identified various deficiencies and substandard conduct during the course of its supervision of licensed corporations engaged in asset management. Hong Kong SFC streamlines licenses for virtual asset managers The HK SFC recently published a circular detailing a new streamlined licensing process that now applies to all new applicants for a virtual asset trading platform (VATP) license. The single external assessment conducted after the applicant had implemented all its internal systems and controls replaced the two-phased external assessment previously required. Previously, applicants for virtual asset trading platform licenses–under the HK SFC’s Scope of External Assessment Reports published in June 2023–were required to engage an external assessor to submit two assessment reports to the SFC. The phase 1 report was submitted with the license application, and the effectiveness of the design of the license applicant’s proposed policies was assessed. The phase 2 report was submitted by an external assessor after the SFC granted approval-in-principle of the virtual asset trading platform license application and assessed the effectiveness of the policies, procedures, and the systems and controls actually implemented. External assessors are required to submit only one assessment report under the new streamlined licensing process. HK SFC confirmed that assessment was required to ensure that a VATP applicant’s systems and controls, policies, and procedures were suitably designed and implemented to meet the requirements of the SFC’s VATP and AML/CFT guidelines. The circular contained no details of the required terms of reference, scope, and specific areas to be covered by the single assessment report. According to the HK SFC, these details were available in the now defunct Scope of External Assessment Reports.

Argentine President Javier Milei gave his first public statements after the debacle of Libra, a crypto project he posted about on social media, before its price tanked, affecting thousands. Milei’s endorsement might have caused thousands to invest in this project, guided by a single media post. Milei stated that he shared what he knew about Libra, explaining that it was focused on providing financing to Argentine entrepreneurs who had no access to legacy structures. However, after his post, he noticed that there was negative attention surrounding Libra. In an interview with TN that was interrupted several times by Santiago Caputo, Milei’s political aide, the president stated: A whole series of negative comments started to appear and, in doubt, I decided to take down the tweet. I never delete tweets. But in that context, as noise was being generated, in doubt I said, “I’m leaving, I have to run.” Milei also rejected reports stating that more than 44,000 were affected by Libra’s downturn. He asseverated that in this number there were many bots, and that the truly affected only reached 5,000, with a very slim chance that Argentine citizens were involved. The Argentine president stressed that all the affected were aware of the risks when entering this kind of trade, calling them “volatility operators.” “They knew very well the risk they were taking. If you go to the casino and lose money, it’s your problem,” Milei declared. Milei noted that he did not endorse Libra and that he just shared it because he is a tech enthusiast who wanted Argentina to become a tech hub. Nonetheless, he acknowledged that this scandal taught him a lesson about the need to establish filters to limit access to him. Finally, Milei called for an investigation of his administration to clear him of any wrongdoing in this scandal. “This is the first time anyone has asked for an investigation. Davis himself says that I was not going to take anything. I have full confidence in my officials. Nobody paid me to share it,” he concluded. Read more: The Libra Incident: Examining Argentine President Javier Milei’s Confusing Token Endorsement and Its Destructive Aftermath 免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到[email protected]，本平台相关工作人员将会进行核查。