Editor：Colin Wu
1. Singapore to Ban Margin Trading from 2024 to Curb Crypto Speculation Among Retail Investors link
On the 23rd of November, the Monetary Authority of Singapore (MAS) conveyed that Digital Payment Token (DPT) service providers are urged to curtail cryptocurrency speculation among retail clientele through the following means: abstaining from offering any cryptocurrency trading incentives, refraining from facilitating financing, collateral, or leveraged transactions, declining local credit card payments for DPT services, and imposing restrictions on the valuation of cryptocurrencies in determining customer net assets. These measures are set to be progressively enforced commencing in mid-2024.
2. Taiwan’s Financial Supervisory Commission to Establish New Virtual Asset Bureau link
On the 19th of November, according to the United News Network, the office of Taiwan Legislative Yuan member Jiang Yongchang has proposed the “Draft Organizational Law of the Financial Supervisory Commission Virtual Asset Bureau.” This draft seeks to amend the Organizational Law of the Financial Supervisory Commission by establishing a new institution under the Financial Supervisory Commission, namely the Virtual Asset Bureau. This bureau would be responsible for overseeing the operations of virtual asset service providers, matters related to customer protection, financial inspections, internal audits, and internal controls.
3. Hong Kong’s weekly summary
3.1 Hong Kong Securities and Futures Commission Adds Hong Kong Digital Institute to List of Suspected Virtual Asset Trading Platforms link
On the 24th of November, the Hong Kong Securities and Futures Commission included the Hong Kong Digital Asset Organization (hkdao) in its list of suspicious virtual asset trading platforms. The company had falsely claimed to have obtained a license from the Hong Kong Securities and Futures Commission. Additionally, this month, the Hong Kong Securities and Futures Commission also added BitCuped and HOUNAX to this list.
3.2 Hong Kong High Court Hears Case of Virtual Currency OTC Robbery Involving HKD 3.5 Million link
On November 24th, according to TOPick, the High Court of Hong Kong recently adjudicated a case of virtual currency robbery. A female seller had successfully completed four transactions with a buyer, receiving a total sum exceeding 6.87 million Hong Kong dollars. During a transaction worth 3.5 million Hong Kong dollars with the same buyer, four masked assailants hidden in a room suddenly emerged, brandishing knives and an electric gun to threaten the female seller and absconded with a bag containing cash. Subsequently, three of the culprits were apprehended. The presiding judge, during sentencing, remarked that this case was meticulously planned, with the criminals disguising themselves as individuals involved in virtual currency transactions to carry out the robbery. It was revealed that the female victim, surnamed Yin, and her husband had been engaged in trading virtual currency (USDT) since 2018 and had met the currently wanted male buyer in December 2020.
3.3 Hong Kong Police Expose HOUNAX Scam: 131 Victims in Hong Kong, Totaling Over HKD 110 Million link
On November 25th, as reported by Radio Television Hong Kong, the Hong Kong Police Force has recently uncovered a scam in which fraudsters impersonate investment experts and carry out fraudulent activities through the HOUNAX virtual asset trading platform. Presently, there have been 131 reported victims, with a total amount involved exceeding 110 million Hong Kong dollars. The HOUNAX website primarily employs traditional Chinese characters and pre-set +852 area codes, suggesting that it may be targeting residents of Hong Kong. Previously, the Hong Kong Securities and Futures Commission had categorized it as an unlicensed company and a suspicious website.
4. Philippine Bureau of the Treasury Sells PHP 15 Billion Worth of Tokenized Bonds on Monday link
On November 20th, in accordance with an official statement, the Philippines Bureau of Treasury successfully issued 15 billion pesos (approximately 270 million US dollars) in bonds with a maturity date of November 2024. These bonds were directed towards institutional investors, carrying a nominal annual interest rate of 6.5%. The total tender amount reached 31.426 billion pesos, more than three times the initial issuance size of 10 billion pesos. Notably, these bonds were issued in digital tokenized form and stored in a blockchain-based distributed ledger owned by the Bureau of Treasury. However, government officials have clarified that these tokenized bonds issued by the Philippines for the first time are non-negotiable.
5. Mumbai Airport Receives Bomb Threat Over Bitcoin Ransom link
On November 24th, as per a report by Protos, an Indian counter-terrorism unit apprehended a suspect who had threatened to bomb the Mumbai International Airport. The threat was made via email, with the individual demanding 1 million US dollars in Bitcoin within 48 hours. The Mumbai Sahar Police traced the IP address responsible for sending the threat email, and the investigative team is currently working to identify the mastermind behind the threat.
6. Bloomberg: Osaka Digital Exchange to Begin Japan’s First Digital Securities Trading on December 25 link
On November 20th, according to Bloomberg, the Osaka Digital Exchange is set to commence Japan’s first digital securities trading on December 25th. The initial batch of tokenized securities to be traded is issued by Ichigo Inc., a real estate investment company based in Tokyo. As per documents submitted to the authorities on Monday, Ichigo, headquartered in Tokyo, will offer approximately 3 billion Japanese yen (about 20.1 million US dollars) worth of real estate-backed securities. It is noteworthy that the Osaka Digital Exchange had received an investment from CBOE earlier this month.
7. Janus Henderson to Launch Asia’s First Tokenized Fund link
On November 23, 2023, JPMorgan Asset Management International and Meta Lab HK embarked on a tokenization partnership, tokenizing one of JPMorgan Asset Management International’s fund products and have completed the necessary filings with the local securities regulatory authority. They officially claim this to be the first tokenized fixed-income fund launched by a Chinese financial institution in Asia. This fund is exclusively available to professional investors and focuses on high-grade U.S. bonds. The issuance is set to be conducted with JPMorgan Asset Management’s Hong Kong subsidiary, JPMorgan Asset Management International Asset Management, serving as the fund manager, while Meta Lab HK provides the tokenization solution.
8. Victory Securities Approved by Hong Kong SFC to Offer Virtual Asset Trading and Advisory Services to Retail Investors link
On November 24th, the Hong Kong-listed company, Victory Securities, proudly announced itself as the first licensed entity in Hong Kong to have received approval from the Securities and Futures Commission to provide virtual asset trading and advisory services to retail investors. Prior to this, Victory Securities had introduced the first compliant virtual asset trading app in the Hong Kong financial market, initially targeting professional investors during its initial phase.
9. Long-standing Blockchain Media Outlet 8btc Rebrands as ‘Aixinzhijie’ link
On November 24th, the long-established blockchain media platform, “巴比特” (8btc), announced a rebranding to “AI 新智界” (Aixinzhijie). This rebranding aims to shift the focus of their reporting towards emerging technologies such as Artificial Intelligence in the General Context (AIGC), digital copyrights, the metaverse, and blockchain. Concurrently, they have also adopted a new domain name.
10. Montenegrin Court Approves Extradition of Terra Founder Do Kwon to South Korea or the United States link
On November 24th, as per the official website of Montenegro’s judicial authority, the Podgorica Court in Montenegro has granted approval for the extradition of Terra founder Do Kwon to either South Korea or the United States. Do Kwon had been detained locally in March at the Podgorica Airport for carrying forged documents. The final decision on this matter will be made by the Montenegro Minister of Justice.
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