Middle Eastern investors are looking at Hong Kong to diversify their portfolios into Chinese assets. FinanceAsia looks at where money is being invested, and how the SAR’s complex crypto regulations could be holding the city back.
Tiang & Partners, a Hong Kong firm that works closely with PwC’s global legal network, has hired Gaven Cheong as head of its investment funds practice from Simmons & Simmons.
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Tesla Inc’s (NASDAQ:TSLA) stock as tokens could land the cryptocurrency exchange Binance in hot water in Hong Kong, the South China Morning Post reported Thursday (local time).
What Happened: Binance’s marketing campaign surrounding Tesla’s tokenized stocks could be classified as a regulated activity that requires a license in Hong Kong, but Binance does not hold such a license in the Chinese special administered region, according to records of the local regulator the Securities and Futures Commission (SFC), according to SCMP.
Binance, with an average daily trading volume of $2 billion, launched a campaign on social media related to the Tesla tokenized stocks last week.