Download App
iOS & Android

Shanghai Municipal Party Committee Secretary: Welcome Standard Chartered to establish more new institutions, new businesses and new platforms such as blockchain in Shanghai

Chen Jinong, the Secretary of the Shanghai Municipal Party Committee, met with Weihao Si, the Chairman of the Board of Directors of Standard Chartered Bank, and Mark William D'Arcy, the Executive Director, and some members of the Board of Directors yesterday morning. Chen Jinong stated that he welcomes Standard Chartered Bank to leverage its own advantages, strengthen strategic connections, place more new institutions, businesses, and platforms such as wealth management and blockchain in Shanghai, focus on deepening pragmatic cooperation in technology finance, green finance, digital finance, and create more application scenarios, and provide comprehensive and professional service support for enterprises to go abroad.


All Comments

Recommended for you

  • Trump accepts Republican presidential nomination

    On the last day of the Republican National Convention on the evening of July 18th local time and the morning of July 19th Beijing time, former US President Trump officially announced that he accepts the Republican Party's nomination for president. Prior to this, on the Republican National Convention on the 15th, former US President Trump received enough party delegate votes and was officially nominated as the Republican presidential candidate for the 2024 US presidential election.
  • Hong Kong Financial Services and the Treasury Bureau: Strive to submit the legal currency stablecoin regulation draft to the Legislative Council for deliberation before the end of this year

    On July 19th, Hong Kong Financial and Treasury Bureau Deputy Director Chen Haolian stated at a meeting of the Legislative Council Web3 and Virtual Asset Development Subcommittee that the authorities are currently drafting the second version of the regulation on the supervision of issuers of stablecoins in Hong Kong. They aim to submit the draft to the Legislative Council for review by the end of this year.
  • Hong Kong regulator says proposed stablecoin regulation has received positive feedback from stakeholders

    The Financial Services and Treasury Bureau (FSTB) and the Hong Kong Monetary Authority (HKMA) jointly released consultation conclusions on regulatory proposals for stablecoins. During the two-month consultation period, they received a total of 108 submissions from industry associations, professional organizations, and market participants. The majority of stakeholders who participated in the consultation process expressed support for the introduction of regulatory regimes to regulate fiat reference stablecoin (FRS) issuers.
  • Hong Kong Monetary Authority: Currently, participants in the stablecoin issuer sandbox are not allowed to raise funds from the public, and violations will result in disqualification

    On July 19th, Hong Kong Monetary Authority (HKMA) Deputy Chief Executive Arthur Yuen wrote in "Fintech Newsletter" that the first batch of three institutions participating in the "sandbox" for stablecoin issuers proposed major application scenarios, including payment, supply chain management, and capital market use cases. In addition to the above application scenarios, the "sandbox" participating institutions also proposed other use cases, including Web3, gaming, and virtual asset trading.
  • Bitzlato Crypto Exchange Founder Sentenced to 18 Months in Prison

    The Russian founder of the Bitzlato cryptocurrency exchange has been sentenced to 18 months in prison for operating an unlicensed remittance business and concealing illegal gambling and drug trafficking profits worth over $700 million. Anatoly Legkodymov has been in federal detention since his arrest in January 2023 and was sentenced by US Judge Eric Vitaliano in the Brooklyn area of New York on Thursday. Legkodymov pleaded guilty in December and admitted to knowing for years that Bitzlato was being used as a channel for dark web transactions, including the infamous Hydra Market for drugs, which was shut down by authorities in 2022. As part of his plea, he also agreed to forfeit his claim to $23 million in cryptocurrency seized by French authorities. Prosecutors in the Brooklyn US Attorney's Office, including Breon Peace, argued that Legkodymov, who owned and controlled Bitzlato, should be sentenced to at least four years in prison for "creating a clearinghouse for dirty money." Despite being warned multiple times that the exchange had become a "haven for criminals, drug dealers, and ransomware extortionists" on the dark web, he continued to allow the exchange to operate.
  • HKMA announces stablecoin issuer sandbox participants

    The Hong Kong Monetary Authority announced the list of stablecoin issuers participating in the sandbox. The following institutions will participate in the sandbox, effective from today: JD Coinchain Technology (Hong Kong) Limited, Round Coin Innovation Technology Limited, Standard Chartered Bank (Hong Kong) Limited, ANX Group Limited, and Hong Kong Telecommunications (HKT) Limited. These institutions have demonstrated a genuine willingness and reasonable plan to develop stablecoin issuance business in Hong Kong during the evaluation process, and their proposed operations under the sandbox will be conducted within limited restrictions and controllable risks.
  • Hong Kong's two departments issued consultation conclusions on legislative proposals to implement a regulatory regime for stablecoin issuers

    The Hong Kong Treasury Bureau and the Hong Kong Monetary Authority jointly issued a consultation summary on the legislative proposal for the regulatory system of fiat stablecoin issuers in Hong Kong. During the consultation period, a total of 108 opinions were received from market participants, industry organizations, chambers of commerce and professional groups, as well as other stakeholders. With the increasing popularity and continuous development of virtual assets, the vast majority of respondents agree that there is a need to introduce a regulatory system for fiat stablecoin issuers to properly manage potential currency and financial stability risks, and to provide transparency and appropriate restrictions. (CCTV)
  • South Korean prosecutors request arrest warrant for crypto market manipulator

    On July 17th, the South Korean prosecutors are seeking an arrest warrant for a suspect involved in manipulating the cryptocurrency market. The suspect's name is "Jonbur Kim" or "HODL Kim". The Seoul Southern District Prosecutors' Office, in collaboration with the cryptocurrency crime investigation department, has submitted a pretrial arrest warrant application for HODL Kim. He is accused of bribing employees of the Coinone exchange to list the POD token and then manipulating its market price, resulting in over 20 billion Korean won (approximately $14.5 million) being stolen.
  • MarbleX and Netmarble Launch $20 Million Ecosystem Promotion Plan

    Ethereum game platform Immutable has announced a partnership with the blockchain game division Marblex of South Korean gaming giant Netmarble. The collaboration will migrate Marblex's ecosystem and its multiple games from the Klaytn blockchain to the Ethereum Layer 2 network Immutable zkEVM. The games include "Ni no Kuni: Cross Worlds", "A3: Still Alive" and "Meta World: My City", and the two parties will also launch an "ecosystem promotion plan" to provide up to $20 million in support to developers to attract new games to join Marblex and Immutable. It is currently unclear whether the Immutable migration will affect Saga's plans, and the project representatives have not commented on the issue.
  • Blockchain Asset Management announces launch of a dedicated blockchain fund for accredited investors

    Blockchain Asset Management, a cryptocurrency fund with a scale of $100 million, announced the launch of an exclusive blockchain fund for qualified investors. The specific amount of funds raised by the fund has not been disclosed yet, but it is said to have reached "eight figures", which means it is in the tens of millions of dollars. In addition, the investment threshold for the new fund is $100,000, and all investors are required to meet the approved standards (annual income exceeding $200,000, net assets exceeding $1 million).