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Hong Kong has overtaken Switzerland as the world’s biggest cross-border wealth hub for the first time, as an influx of investment from the Chinese mainland helped it eclipse the traditional haven

Hong Kong has overtaken Switzerland as the top global booking centre for cross-border wealth, a first that is unlikely to be reversed as hubs in Asia grow faster than the European safe-haven, Boston Consulting Group said

Hong Kong has overtaken Switzerland as the top global booking centre for cross-border wealth, a first that is unlikely to be reversed as hubs in Asia grow faster than the European safe-haven, Boston Consulting Group said. More here:

Hong Kong finalizes crypto advisor and asset manager licensing Hong Kong's SFC and Treasury Bureau published consultation conclusions Tuesday, finalizing the licensing framework for virtual asset advisors and asset managers. Advisory activities map to Type 4 (securities advice), management to Type 9 (asset management) under the existing securities ordinance. Both regimes sit under the same AML umbrella that already covers virtual asset dealing and custody. Legislative proposals head to the Legislative Council later this year. This completes the four-pillar architecture: exchanges, custody, dealers, and now advisors and managers. SFC CEO Julia Leung framed it as solidifying Hong Kong's hub status.