The rise of the crypto hedge fund: opportunities and challenges

The extraordinary returns generated by cryptocurrencies have led to a frenzy of investment activity and interest from investors. Several new crypto hedge funds have emerged, and cryptocurrency is fast establishing itself as a mainstream asset class.

However, numerous operational and regulatory concerns remain. While regulators are increasing oversight, established players and startups are moving to address the current gaps in infrastructure, control and compliance.

Read our latest article for Regulation Asia to learn more about overcoming the challenges to make the most of the opportunities of this new asset class.

Key contacts

Hannah Cassidy
Hannah Cassidy
Partner, Hong Kong
Email | Profile
+852 2101 4133
Grace Chong
Grace Chong
Registered foreign lawyer (Singapore), Hong Kong
Email
+852 2101 4138

 

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Filed under Asia, Fintech

HKMA publishes open API framework for Hong Kong banking sector and launches own open API

On 18 July 2018, the HKMA announced that it had concluded a consultation on its intended approach to open application programming interface (API) for the Hong Kong banking sector, and had published its final framework and implementation plan. Continue reading

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Filed under Asia, Fintech

FSB publishes report on crypto-assets

On 16 July 2018, the Financial Stability Board (FSB) published a report to the G20 on its work with the Committee on Payments and Market Infrastructures (CPMI) to develop a framework and identify metrics for the monitoring of financial stability risks posed by crypto-assets. The report also provided a helpful overview of the work being done by the other standard-setting bodies (SSBs), including the International Organisation of Securities Commissions (IOSCO) and the Basel Committee on Banking Supervision (BCBS) on crypto-assets. Continue reading

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Filed under Fintech, Regulatory

Fintech regulation – what is in the pipeline?

Here is our latest timeline covering key UK and EU regulatory developments in the pipeline. Continue reading

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Filed under Europe, Fintech, Regulatory

REGULATION IN THE AGE OF CRYPTOCURRENCIES

Blockchain technology is ushering in a new epoch of monetary oversight, creating opportunities and challenges for regulators in a world disrupted by the advent of cryptocurrencies Continue reading

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Filed under Asia, IT & Technology

Open Banking catching the eye of global regulators: Developments in Hong Kong, Singapore and Australia

The banking industry has undergone rapid change in recent years with the rise of virtual currency, fintech and digital innovation challenging the status quo. One of the key developments emerging in the last couple of years is the concept of Open Application Programming Interfaces (APIs) for use in the banking industry, or Open Banking. Continue reading

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Filed under Asia, Australasia, Regulatory, Uncategorized

Fintech regulation – what to expect

With increasing regulation in the fintech space, we have created a timeline of key UK and EU regulatory milestones to expect over the coming months and years. Continue reading

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Filed under Europe, Fintech, IT & Technology, Regulatory, Uncategorized

Bridging the FinTech gap: What dividend should we seek from regulatory cooperation across jurisdictions?

Technology-facilitated innovation in financial services, a diverse collection of topics which coalesces under the portmanteau term of “FinTech”, is increasingly in the sights of policy-makers, whether at global, regional and national or state levels.  Keen observers will have noted a proliferation of consultation documents, statements, warnings, speeches and more emanating from national regulators.  Some of these recent publications address specific FinTech applications. Indeed, there has been a veritable deluge of material on Initial Coin Offerings over just the past few months.

Meanwhile bodies such as the Financial Stability Board (FSB), the influential Basel Committee on Banking Supervision (BCBS), and others, both within and without the traditional regulatory cohort, are making some efforts towards setting out (or attempt to setting out) some universal principles or truths which may address an increasingly gaping hole in the global regulatory policy canon.

We are at an early stage in the development of policy responses to FinTech, and it is perhaps unsurprising that globally agreed standards have yet to emerge. Continue reading

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Filed under Asia, Europe, Fintech, IT & Technology, Regulatory

Further developments in Distributed Ledger Technology

On 15 December 2017, the Financial Conduct Authority (FCA) published the Feedback Statement (FS) to its April 2017 Discussion Paper (DP) DP17/03 on Distributed Ledger Technology (DLT). Continue reading

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Filed under Europe, Fintech, IT & Technology, Regulatory

Singapore’s MAS issues Guide to Digital Token Offerings

On 14 November 2017, the Monetary Authority of Singapore (MAS) issued a guide during the first day of the Singapore FinTech Festival to provide general guidance on the application of the securities laws administered by the MAS, namely the Securities and Futures Act (SFA) and the Financial Advisers Act, to offers or issues of digital tokens in Singapore.

This follows the MAS’s clarification on 1 August 2017 that an offer or issue of digital tokens would be regulated if these tokens constitute products which are regulated under the SFA. Our e-bulletin in August 2017 regarding the clarification can be accessed here.

In our recent bulletin, we highlight the key points in the MAS guide and set out our observations. If you wish to discuss this further, please do not hesitate to reach out to our Asia team (below) or your usual Herbert Smith Freehills contact.

Key contacts

Will Hallatt
Will Hallatt
Partner, Hong Kong
Email | Profile
+852 2101 4036
Siddhartha Sivaramakrishnan
Siddhartha Sivaramakrishnan
Partner, Singapore
Email | Profile
+65 6868 8078
Hannah Cassidy
Hannah Cassidy
Partner, Hong Kong
Email | Profile
+852 2101 4133

Herbert Smith Freehills LLP is licensed to operate as a foreign law practice in Singapore. Where advice on Singapore law is required, we will refer the matter to and work with licensed Singapore law practices where necessary.

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Filed under Asia, Fintech, IT & Technology, Regulatory