Goodwin (JD Supra Hong Kong)

Since the introduction of a new listing regime on 30 April 2018 that enables the listing of pre-revenue Biotech Companies on the Main Board of the Hong Kong Stock Exchange (the “Exchange”), a total of 16 of these listings have completed. After reviewing Chapter 18A of its Main Board Listing Rules (“Chapter 18A”), the Exchange updated two earlier guidance letters (HKEX-GL92-18 and HKEX-GL85-16) to

Hong Kong has a strong reputation as a global and regional hub for the asset management and funds industry and is clearly looking to maintain and improve its competitiveness in this sector. In the recent 2020-2021 Budget, and particularly in the current political and economic climate, the Hong Kong government has been keen to promote economic growth initiatives one of which is promoting the local

Bitfinex is a Hong Kong-based digital currency exchange – one of the world’s leading such exchanges, and the self-proclaimed largest exchange by volume for trading bitcoin against the US Dollar. On August 2, 2016, Bitfinex halted trading after discovering a security breach, including by taking its website offline and suspending all withdrawals and deposits.

On August 2, 2016, Hong Kong-based bitcoin exchange Bitfinex was the latest target of hackers who stole 119,756 bitcoins, for a total loss of approximately $72 million at that time. Some are estimating it to be as high as $80,000,000. The Bitfinex hack was notable both because Bitfinex is one of the “biggest Bitcoin exchanges in the world” and because it sent bitcoin prices tumbling more than 2