News

The Hong Kong Financial Services and the Treasury Bureau and the Hong Kong Securities and Futures Commission (SFC) have launched a joint consultation today to introduce a regulatory regime for providers of virtual asset trading and custody services. The proposed regime will empower the SFC to license, supervise, and enforce relevant regulations on virtual asset trading service providers and custody service providers. The SFC will also be responsible for setting compliance standards for these two key types of service providers, ensuring robust investor protection measures and maintaining market integrity in accordance with the principle of “same business, same risks, same rules.” This move also demonstrates the SFC’s proactive implementation of initiatives under the “ASPIRe” roadmap, and its ongoing commitment to building a vibrant, secure, and sustainable digital asset market. (Hong Kong SFC)

According to a report by Jinse Finance, BlueBay Chief Investment Officer Mark Dowding stated that concerns over long-term bond yields will persist as the U.S. budget is expected to be finalized within the next month before Congress adjourns. The pressure to reach an agreement in the coming weeks means that compromises will be made within the Republican Party. Even factoring in $250–300 billion in tariff revenues, the fiscal deficit ratio will remain around 7% of GDP. “Concerns about the rising level of U.S. debt are unlikely to ease in the short term.” BlueBay believes that the Trump administration will not implement tax increases or substantial spending cuts, and the only possible way to reduce the deficit is through a significant decline in borrowing costs.