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In 2017, cryptocurrencies' combined market cap surged to over US$600 billion from US$15 billion, while bitcoin's price soared 1,500%. Japan, China and South Korea, three Asian countries at the forefront of the cryptocurrency revolution, are at opposite extremes in regulating cryptocurrencies. Mainland China declared initial coin offerings ("ICOs") and cryptocurrency exchanges illegal in September 2017. South Korea followed suit banning ICOs last year and plans to ban crypto exchanges in 2018. At the other extreme, Japan legalized bitcoin as a means of payment in April 2017, regulates cryptocurrency exchanges and subjects cryptocurrencies to Japan's taxation regime.

Most other major jurisdictions, including the US, the UK and Hong Kong, do not recognize cryptocurrencies as a legal means of payment, but treat them as virtual assets or commodities, or depending on their features, as securities. However, an increasing number of smaller jurisdictions, including Gibraltar, Estonia and the Isle of Man, to name but a few, are branding themselves as ICO hubs and looking at regulation to mitigate the most blatant risks – hacking, money-laundering and fraud.

Hong Kong is seeing its fair share of ICOs, which may be regulated by the Securities and Futures Commission if they are classified as offers of securities.

Kim Larkin, Solicitor, Charltons has been invited to update members on the regulation of cryptocurrencies and ICOs. In particular, her talk will cover:
- A comparison of cryptocurrency regulation in key jurisdictions
- Cryptocurrencies as a legal payment means vs as assets, commodities and securities
- What is an ICO and when is it a securities offer?
- The regulation debate – pros and cons
- A possible light touch regulatory framework for cryptocurrencies
- Crypto regulatory outlook for 2018

Speaker(s) Kim Larkin, Solicitor, Charltons
Kim Larkin joined Charltons in 2003 and advises on Hong Kong's regulatory framework for corporate finance transactions. Her practice includes advising on Hong Kong IPOs, debt and ETF listings, licensing financial services intermediaries, offering investment products, funds, debt finance, opportunities under China's Belt and Road initiative, regulatory compliance and corporate governance. She has involved in a number of initial coin offers ("ICOs") fund-raising, advising on structuring, regulatory compliance and documentation when ICOs starts to provide crowd-sourced fundraising opportunities for Hong Kong-based companies.
Language English
Date and Time 2018/02/23 12:30 to 14:00
Venue Chamber Theatre, 22/F United Centre
Media Closed to media
Enquiries John Poon
Tel: 28231257
Fee Members @ HK$190 / Non-Members @ HK$400
+$50 for booking offline
This event accepts Chamber Coupon (terms and conditions)
Members enjoy 30% discount with BOC HKGCC VISA Card
Notes - Bookings will only be confirmed with full payment, on a first-come-first-served basis.
- Substitution is allowed for corporate members only with advanced notice while walk-ins will normally not be accepted.
- Please note that the Chamber reserves the right to decline any booking or cancel the event without explanation. In any such instance, the event fee will be returned in full.
- There will be no refund for attendees cancelling or not showing up for the event unless the cancellation request is made in writing at least 3 days before the event, and in such cases the refund will be subjected to a 10% administration fee, or HK$100 deduction, whichever is higher.
- Members paying with their BOC HKGCC Visa Card will enjoy a 30% discount on their reservation. The discount is only applicable to the card holder, and does not extend to their guests. The discount cannot be used in conjunction with Chamber Coupons.
- Starting 1 January 2017, all off-line bookings (e.g. fax, e-mail, post) for Chamber events will be charged a $50 handling fee per person. Make the switch to online today by installing our app or registering via our website to save the environment and save money.
- Priorities are given to corporate members. The decision to accept or decline any bookings shall be at the sole discretion of the Chamber.