Regulation of digital financial assets in Hong Kong, Macau and Mainland China

Occupation: Associate Professor (Department of Civil Law Disciplines)
Affiliation: Vladivostok State University of Economics and Service
Address: Russian Federation, Vladivostok

Journal name

Problemy Dalnego Vostoka

Edition

Issue 2

Pages

55-65

Abstract

This article analyzes the acts of the People's Bank of China and the Monetary Authority of Macau, which showed that the recognition of ICO as illegal financing, as well as the prohibition to financial organizations to perform exchange operations with tokens and cryptocurrency are measures aimed at preventing corruption and money laundering. Hong Kong unlike mainland China and Macau partially regulates digital financial assets. If tokens and cryptocurrencies have the characteristics of securities or futures, then their turnover falls within the scope of the legislation on the securities market. Otherwise, transactions with them are unregulated, and protection is not provided to investors.

Keywords

China, PRC, Hong Kong, Digital Financial Assets, Token, Bitcoin, Securities, Money Laundering, Macau, ICO

Acknowledgment

The reported study was funded by RFBR, project number 20-011-00454 «Ensuring the rights of investors in the banking and financial sectors in the context of the digitalization of the economy in the Russian Federation and the leading financial centers of East Asia: a comparative legal aspect».

Received

17.04.2021

Publication date

05.05.2021

Number of characters

30012

Cite

GOST	Alekseenko A. Regulation of digital financial assets in Hong Kong, Macau and Mainland China // Problemy Dalnego Vostoka – 2021. – Issue 2 C. 55-65 [Electronic resource]. URL: https://pdv.jes.su/S013128120014677-5-1 (circulation date: 24.04.2024). DOI: 10.31857/S013128120014677-5
MLA	Alekseenko, Aleksandr "Regulation of digital financial assets in Hong Kong, Macau and Mainland China." Problemy Dalnego Vostoka 2 (2021):55-65. DOI: 10.31857/S013128120014677-5
APA	Alekseenko A. (2021). Regulation of digital financial assets in Hong Kong, Macau and Mainland China. Problemy Dalnego Vostoka (2), pp.55-65 DOI: 10.31857/S013128120014677-5

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