Sunday, May 24, 2015

"Hong Kong Shaping up to Become the Next Fintech Hub"

Diana Ngo
The Cointelegraph
22 May 2015
Earlier this month in Hong Kong, the Office of the Hon Charles Mok, Legislative Councillor (IT), and the Office of the Hon Kenneth Leung, Legislative Councillor (Accountancy), joined hands and organized a seminar to discuss the opportunities and regulatory challenges that are surrounding financial innovation startups, or the so-called fintechs.
     The event, sponsored by KPMG and prominent startup and Internet organizations, was intended to gather actors from various niches composing the market and hear their insights regarding the overall fintech industry.
     The purpose was also to explore how Hong Kong's law and regulation needs to be shaped in order to meet with the city's latest ambition of becoming the next financial technology hub....
     Professor Douglas Arner from the Faculty of Law, HKU, a speaker at the seminar, believes that Hong Kong is a world leader in many fields, including infrastructure, payments and settlements, data and security, privacy policy and risk management, and regulation.
     According to many of the speakers, Hong Kong, a traditional financial center, has valuable resources and the capacity to "[become] Asia's fintech hub." However, the city lags behind when it comes to Internet finance and innovative fintech business models....  Click here to read the full article.

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