Singaporean oil tycoon and Hin Leong founder Lim Oon Kuin has been sentenced to 17 and a half years in prison for deceiving HSBC Holdings and instigating the fabrication of documents in a case. The judge stated on November 18 that a 'deterrent sentence' was necessary.

The CoinWorld website reported that Chen Haolian, Deputy Director of the Hong Kong Financial and Treasury Bureau, stated that the Hong Kong government is actively studying appropriate regulatory measures for businesses related to virtual asset trading platforms. The public consultation period for over-the-counter trading platforms has ended, and approximately 70 responses have been received. The draft will be submitted to the Legislative Council as soon as possible.

On April 29, Fiona Lim, senior forex strategist at Maybank, said that the market is testing Japan's tolerance for the rapid fall decline of the yen, and the momentum for the yen to effectively fall break through the 160 mark against the dollar has been clearly there. The pace of depreciation is accelerating. If it doesn't intervene, then the danger next is like trying to catch a knife that has fallen, especially as the Fed may signal this week that it will have to wait longer before cutting rates. If the yen continues to fall at its current pace, then intervention becomes more likely, especially at a time when signs of yen speculation are clear. So far, the lack of intervention may be due to timing issues. If the Fed hints at a return to the likelihood of a rate hike (which is not our base case), it could push USD/JPY higher again through a rise in US Treasury yields and effectively offset any action Japan might take today.

The three general partners of NGC Ventures remain optimistic about the crypto market and venture capital in 2024. NGC's Roger Lim said he prefers verticals such as AI and encryption, BitcoinLayer 2 networking, modularity and zero-knowledge technologies. On the other hand, Wayne Zhu of the agency is looking at "intent-based protocols" because they have the potential to enhance the user experience, manage gas fees and slippage more efficiently, and improve composability to attract more users. Meanwhile, NGC's Tony Gu said he is focusing on the Decentralization Physical Infrastructure Network (DePIN) and Decentralization Science (DeSci) tracks. Overall, NGC Ventures expects "the bull market to be in full swing in 2024" but "uncertain how long it will last." （The Block）

According to Golden Finance, Hong Kong's Financial Services and the Treasury Secretary Chan Ho-lim said that the third-generation Internet (Web 3.0) can solve many financial transactions and business operation problems, reduce costs and improve efficiency, and the SAR government embraces relevant opportunities. He mentioned that many European fintech companies are interested in developing in Hong Kong and entering the Asian and Mainland markets through Hong Kong, stressing that Hong Kong's regulatory path in these areas is clear and clear, which can help enterprises develop their businesses with peace of mind. Speaking at the Fintech Week Forum, Mr Chan said that in the future, the regulatory framework will be further improved in light of market developments, including expanding the regulation of over-the-counter virtual asset trading activities. The FSTB and the HKMA will also issue a consultation paper on the regulatory regime for stablecoin issuers to solicit views from the industry and the public. The authorities have also consulted the industry on the relevant guidelines for banks to provide virtual asset custody services, with a view to adequately protecting customers' assets. He also mentioned that the SFC had issued a circular on asset tokenisation yesterday to clarify the regulatory expectations.

According to Golden Finance, HSBC Hong Kong Chief Executive Officer Lin Huihong said at the Fintech Week Forum that the group invested US$6.1 billion in digital technology last year and provided about 400 enhancements to retail and wealth retail customers in Hong Kong, and now 90% of wealth transactions are conducted through digital channels, reflecting the results. With the HKMA already working with the Bank of Thailand (BOT) and the Bank for International Settlements (BIS) exploring similar cross-border agreements to facilitate cross-border payments, Lim expects more innovation in cross-border payments in the future, as the HKMA has reached a bilateral cooperation with the Bank of Thailand. She also pointed out that she is studying hundreds of potential application cases of generative AI, emphasizing that customer safety is the top priority to ensure that the application of AI is in line with corporate governance and risk management.

PANews September 7 news, according to CoinDesk, the International Organization of Securities Commissions (IOSCO) said in a report released on Thursday that governments should figure out who is responsible for the so-called decentralized financial applications and act like normal It is regulated by all financial market participants. “A regulatory approach should be functionally based to achieve regulatory outcomes for investor protection and market integrity that are the same or consistent with those required in traditional financial markets,” the report said. IOSCO officials also seem to believe that DeFi’s decentralization is just a fantasy and are calling on national regulators to take action. “There is a common misconception that DeFi is truly decentralized and governed by autonomous code or smart contracts,” Tuang Lee Lim, chair of the IOSCO board-level fintech working group, said in a statement. “In fact, regardless of the operating model of a DeFi arrangement No matter what, the 'responsible person' can be determined." Earlier today, a joint IMF and FSB document warned that a blanket ban on cryptocurrencies would not help mitigate their risks. The U.S. Treasury Department and Internal Revenue Service release proposals regarding reporting requirements for cryptocurrency brokers.

According to news from PANews on July 12, Shanghai Aona Technology Co., Ltd. (NFKings), a Web3 technology company, will join hands with Xingkong Huawen Holdings Co., Ltd. to hold the “Sing! "Voice of China" product launch conference, leading the audience and fans of "The Voice of China" to experience the charm of the metaverse. Star Chinese CEO Tian Ming, Ona Technology founder and CEO Matthew Lim, Ona Technology founder He Youjun, and Hash Global representatives will attend the event and deliver speeches.

Babbitt News, on June 17, according to the documents submitted to the US SEC in June and two people familiar with the matter, the cryptocurrency fund DBA Crypto is still trying to start. The institutionally-oriented investment startup had previously sought to raise at least $500 million in outside funding and was aiming to launch in late 2022 or early 2023. Three of the core employees have moved to other encryption companies. Sources at the time said the DBA was in advanced talks with potential anchor investors, but its plans didn't pan out. The latest SEC filing shows that DBA Crypto has cut the total target fundraising for its fund from $500 million to $150 million, with both onshore and offshore versions of its flagship DBA Crypto Fund 1 targeting $75 million. DBA initially intended to take a co-investment approach covering digital asset ventures and liquidity strategies including derivatives, the sources said. Team members at the time included Josh Lim, who resigned as Genesis Head of Derivatives in August 2022 to join the DBA; and former Genesis employee Roshun Patel. The pair, along with quantitative analyst Shane Barratt, have signed on as DBA partners. Lim later joined another cryptocurrency firm, Barratt, in April as an algorithmic trader at Tower Research Capital, according to sources. At the same time, the LinkedIn page shows that Patel became a partner of Hack VC in February this year.

Odaily Planet Daily News DBS Digital Exchange CEO Lionel Lim wrote that although the collapse of FTX has shaken people’s confidence in centralized exchanges, it is not a failure of blockchain technology, but the result of poor risk management and corporate governance; As the maturity and institutional adoption of CEXs increases, CEXs will exert huge influence as a key entry point into the asset class. According to data from DefiLlama, as of mid-May 2023, CEXs accounted for almost 100% of the total trading volume of centralized and 90% of all transactions on decentralized exchanges. Despite the setback in investor confidence last year, the outlook for CEX remains bright; CEX integrates solutions for managing digital asset portfolios such as custody, trading, investment products, consulting, and efficient fiat currency entry and exit ramps into one platform, which greatly reduces the technical complexity of owning and managing native tokens of different blockchains; Security is also its advantage. According to data from Chainalysis, 18% of all cryptocurrencies stolen by hackers in 2022 will come from CEXs, and the remaining 82% will come from decentralized Dapps. At the same time, Lionel Lim pointed out that CEX needs to rebuild trust by segregating assets, because the separation of customer and company assets is the key to be addressed in the future regulatory framework. (CoinDesk)

According to Jinshi’s report on May 29, Singapore’s state-owned investment institution Temasek Holdings stated that it has reduced the remuneration of senior management and the investment team responsible for investing in FTX. Lim Boon Heng, chairman of Temasek, said in a statement following an internal review: “As alleged by prosecutors and admitted by key executives of FTX and its affiliates, FTX engaged in fraudulent conduct and deliberately defrauded Temasek, including Temasek. investors withholding information.” The statement did not detail the amount of the pay cuts.

Jinse Finance reported that Singapore’s state-owned investment institution Temasek Holdings stated that it has reduced the remuneration of senior management and the investment team responsible for investing in FTX. Lim Boon Heng, chairman of Temasek, said in a statement following an internal review: “As alleged by prosecutors and admitted by key executives of FTX and its affiliates, FTX engaged in fraudulent conduct and deliberately defrauded Temasek, including Temasek. investors withholding information.” The statement did not detail the amount of the pay cuts.

According to PANews news on May 29, according to Reuters, Singapore's national investment fund Temasek (Temasek) said it had cut the salary of the team and senior management who had advised it to invest in the encryption exchange FTX. Lim Boon Heng, chairman of Temasek, said on the company's official website on Monday: "While the investment team did not commit any wrongdoing in reaching investment recommendations, the investment team and senior management, which are ultimately responsible for investment decisions, bear collective responsibility. As prosecutors "As alleged, and as admitted by key executives of FTX and its affiliates, FTX engaged in fraudulent practices that were deliberately concealed from investors, including Temasek. However, we are concerned about the results of our investments and the negative impact on our reputation." Disappointed." The statement did not detail the amount of the pay cut. About six months ago, Temasek conducted an internal review of its investment in FTX, which resulted in a $275 million write-down. Temasek has said that its investment in FTX costs 0.09% of its S$403 billion ($304 billion) net portfolio value as of March 31, 2022, and that it currently has no direct investments in cryptocurrencies.

Golden Finance reported that Lionel Lim, CEO of DBS Bank Digital Exchange, said that the collapse of Terra-Luna and FTX has seriously shaken people's confidence in cryptocurrency, which can be said to have triggered the most terrible existential crisis in the industry's 15-year history. While the asset class has recovered somewhat this year, with bitcoin up nearly 65% year-to-date, the milestones are still the perfect time to reflect on last year's setback and how the industry can rebuild better. We should admit that these incidents are not the failure of blockchain technology, but the result of poor risk management and corporate governance, and some failed companies have committed fraud. The market continues to recognize the integrity and innovative potential of blockchain, as evidenced by the massive inflows into decentralized exchanges following the FTX crash, as well as the positive reaction to Ethereum’s proof-of-stake (PoS) transition and Shapella upgrade. The events of 2022 demonstrate that for the industry to move forward, investor protection, transparency, robust governance structures and delivering value to customers must come back to the forefront of how exchanges are built and operated. CEXs that embrace these values will find themselves with a competitive advantage as investors increasingly rely on trusted, centralized platforms to manage their digital asset portfolios.