2.5 million HKD full funding! Hong Kong's digital bond issuance welcomes a huge boost! 💥💥💥

Big moves in Asia's crypto regulation! The Taiwan Financial Supervisory Commission will accept applications from banks and other financial institutions for "virtual asset custody business thematic pilot program" starting January 1, 2025. Five private banks have expressed interest, primarily targeting clients such as virtual exchanges. The scope of the business is limited to the custody of Bitcoin and other virtual currencies, excluding RWA and NFT. Applicants must submit seven documents covering various aspects such as custody models and customer services, with a review period of two months. The pilot will last six months, and whether it will be fully launched will depend on the results.

The Hong Kong Monetary Authority launched a digital bond funding program on November 28, lasting for three years. Eligible digital bonds issued in Hong Kong can receive a half funding of 1.25 million HKD or full funding of 2.5 million HKD, depending on requirements. Issuers may also be compensated for various fees paid to specific local institutions during the issuance process. If the bonds meet special requirements such as green bonds, there are additional funding policies.

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