regulation

Hong Kong’s Stablecoin Law is cementing the financial hub’s digital ambitions, however pending US crypto laws are keeping regulatory competition tight as both chase the growing opportunity.

Banks are looking to overhaul risk frameworks as US tariff actions collide with Asia’s export dependence. Experts shared their views on how regulators are embedding geopolitical shocks into stress scenarios, while banks turn to tech and client engagement to prepare for strains likely to surface in 2026.

The Hong Kong Stock Exchange has eased IPO public float requirements and has made reforms in the IPO price discovery process; it is also carrying out a further consultation; meanwhile, listings continue apace.

The new regulation is targeting digital asset and payment service providers in both cryptocurrencies and stablecoins; draft legislation is expected by the end of 2025.

Ian Johnston, chief executive, Dubai Financial Services Authority, is confident the growing flows between Asia and the Middle East will continue.

Cybersecurity expert Charmian Aw will join the global firm on February 25 from Squire Patton Boggs.

The fines from the China Securities Regulatory Commission and Ministry of Finance relate to the auditing of a subsidiary of troubled property developer Evergrande which inflated its revenue by billions of dollars; PwC's global chair has described the work as "completely unacceptable".

The Credit Suisse crisis shows that the bonds don't necessarily provide stability to banks and investors as designed; APRA has proposed a different capital framework from January 1, 2027.

High profile setbacks for FTX and Binance are unlikely to stop the potential of tokenisation, stablecoins and digital bonds in the region, but progress will come with greater regulatory scrutiny.