commission

The Central Cyberspace Affairs Commission recently announced the progress of the first phase of the "Clear and Bright: Rectifying AI Application Chaos" special action. Since its launch in April 2026, this action has focused on issues such as large models not being registered as required, insufficient review and filtering capabilities, AI data poisoning, and inadequate implementation of content labeling. As of now, the first phase has dealt with over 14,000 AI products, including non-compliant websites, applications, and intelligent agents, cleaned up more than 6 million illegal and non-compliant pieces of information, handled over 26,000 non-compliant accounts, and removed over 1,300 non-compliant AI products and 9 non-compliant open-source datasets.During the special action, many local cyberspace departments have taken targeted measures such as establishing coordinated regulatory mechanisms and setting up reporting areas. Key platform companies such as Huawei, Alibaba, Zhiyu, and DeepSeek have also successively improved their registration review, content interception, and data anomaly detection mechanisms. The Central Cyberspace Affairs Commission stated that the next phase of governance will focus on cracking down on prominent issues such as the use of AI technology to create and disseminate false information, spread vulgar content, impersonate others, infringe on the rights of minors, and engage in internet water army activities, further increasing enforcement efforts and urging platforms to enhance their prevention and governance capabilities.

According to a report by Sing Tao Daily, the Hong Kong Securities and Futures Professionals Association stated that after a meeting with representatives from the regulatory authorities, including Deputy Secretary for Financial Services and the Treasury Chen Haolian and Executive Director of the Securities and Futures Commission's Intermediaries Division Ye Zhiheng, the Securities and Futures Commission has committed to advancing measures such as the separation of the "Virtual Asset Platform Practitioners Examination" (CVAP) exam and curriculum, optimizing review materials, and reducing assessment fees.The association will follow up on the relevant timeline and continue to communicate with the Financial Services and the Treasury Bureau and the Securities and Futures Commission on practical issues such as self-custody operation guidelines for private equity funds, the boundaries of technology services and regulated activities, and the VA Payment regulatory framework.

According to the Daily Economy, the South Korean Financial Commission held its 12th regular meeting and filed lawsuits regarding two cases of market manipulation in the cryptocurrency asset market.In the first case, "whale" investors used tens of billions of Korean won to acquire about half of the global circulation of a certain cryptocurrency asset, artificially inflating the price on overseas exchanges, and then profiting from arbitrage on domestic exchanges by taking advantage of the price linkage effect between exchanges, with the losses borne by domestic investors.In the second case, the suspects targeted "Kimchi Coin" by repeatedly submitting market buy and sell orders through API channels within one second, creating a false appearance of active trading, while simultaneously posting high-priced buy orders on the web to drive up the market. After buy orders surged in, they sold off in batches to cash out.The Financial Commission warns investors to be cautious of cryptocurrencies with sudden and unjustified spikes in price and trading volume, and stated that it will strengthen the disclosure mechanism for large holders' positions and the market warning system.

According to Caixin, Xiao Rui, the son of former Wuhan Municipal Supervisory Commission member Xiao Jun, is suspected of receiving approximately HKD 4.72 million in bribes from mainland construction contractors on behalf of his father, and has laundered over HKD 64 million through underground money houses. On June 23, the Hong Kong Regional Court found Xiao Rui guilty of four counts of "money laundering" and one count of "using a false document," with the judge set to announce the sentence on July 23.In 2014, Xiao Rui was approved to reside in Hong Kong. That same year, he used his HSBC account to purchase two funds from Sun Life Financial for HKD 10 million to meet the investment requirements of the aforementioned immigration plan. Between January 2016 and September 2017, Xiao Rui's Standard Chartered and DBS accounts received multiple remittances, totaling over HKD 54 million.Regarding the "money laundering" charges, Xiao Rui argued in court that the large sums involved were legitimate earnings from his mother's business, given to him for investment in Hong Kong, with some funds also coming from the sale of Bitcoin. Concerning the explanation about Bitcoin, the judge rejected his testimony as Xiao Rui could not provide any basic records such as transaction dates, numbers, or wallet addresses.

The Hong Kong Securities and Futures Commission released the "2025-26 Annual Report," showing that Hong Kong's capital market achieved significant growth across various asset classes in the past year, including investment funds, digital assets, and the stock market. Among them, the growth of tokenized investment products accelerated. As of March, the managed assets of 13 retail products approved by the Securities and Futures Commission increased nearly sixfold year-on-year, reaching HKD 10.8 billion. At the same time, the total market value of 11 virtual asset spot ETFs reached HKD 4.3 billion, a substantial increase of 90% since their launch in 2024, recognizing Asia's first Solana spot ETF. The trading volume of 12 licensed virtual asset trading platforms increased significantly by 125% within a year.

The Hong Kong Securities and Futures Commission has announced that it has listed Aurum/Aurum Foundation as a suspicious virtual asset trading platform. The Hong Kong Securities and Futures Commission stated that the company claims to be registered in Hong Kong under the Companies Ordinance and provides virtual asset, futures contracts, and derivative trading services on its relevant website, but the company is not licensed by the Hong Kong Securities and Futures Commission and is suspected of conducting unlicensed activities.

According to Digital Asset, the Financial Services Commission of South Korea plans to expand the scope of the regulatory sandbox to include the Virtual Asset User Protection Act. This move is part of a broader plan aimed at preparing the future of the financial industry by expanding services to reflect changes in the financial environment and market demands.At a recent event hosted by Financial Services Commission Chairman Lee Ik-yeon, the Commission stated that it will continue to explore and incorporate laws related to emerging fields and services, such as the Internet Banking Act and the Virtual Asset User Protection Act, into the regulatory sandbox.

U.S. Securities and Exchange Commission (SEC) Commissioner Hester Peirce expressed views on the future regulation of perpetual contracts, prediction markets, and digital assets, with an overall tone that is relatively positive and open.Hester Peirce reviewed the Rule 611 trading transparency proposal that has been in the works for about 20 years, pointing out that the so-called "innovation exemption" mechanism will be intentionally set to be strict and limited, in order to balance market innovation and investor protection.Hester Peirce stated that a clearer regulatory framework should be adopted for new financial products such as tokenized securities, perpetual contracts, and prediction markets, rather than simply imposing restrictions or vague regulations. She also emphasized two core principles: self-custody and financial privacy should become fundamental rights in the future regulatory system and should be incorporated into the subsequent design of digital asset regulations.

According to the Shanghai Securities Journal, Wu Qing, the Chairman of the China Securities Regulatory Commission, stated at the 2026 Lujiazui Forum that the next step will be to timely release guidelines for the standardized development of artificial intelligence in the capital market.Wu Qing pointed out that the CSRC will strictly investigate and deal with illegal activities such as using technology to ride on trends, hype concepts, and even manipulate the market and insider trading; at the same time, it will legally and strictly crack down on illegal stock recommendations using artificial intelligence, as well as industry chaos such as spreading rumors and illegal trading using artificial intelligence.

According to Crowdfund Insider, the Chairperson of the Hong Kong Securities and Futures Commission (SFC), Laura Liang, stated at the Caixin Summer Summit that Hong Kong will continue to expand its digital asset regulatory framework and promote the application of artificial intelligence (AI) in the financial services sector to consolidate its position as an international financial center.Laura Liang pointed out that regulatory agencies will improve the institutional framework around areas such as digital asset trading, custody, investment consulting, and asset management, while adhering to the regulatory principle of "same business, same risks, same rules," achieving a balance between innovation and investor protection.She stated that as the application of AI in the financial industry accelerates, regulatory focus will include potential risks such as model reliability, algorithm bias, data privacy, and cybersecurity, emphasizing that financial institutions need to strengthen risk management during the innovation process.In addition, the Hong Kong Securities and Futures Commission and relevant regulatory agencies have expanded the regulatory sandbox mechanism, allowing financial institutions to test generative AI applications in a controlled environment to promote technological implementation and compliant development. Analysts believe that Hong Kong is further enhancing the openness and standardization of its financial markets through a dual regulatory framework for digital assets and AI, while also increasing its competitiveness in the global capital markets.

The China Securities Regulatory Commission announced that it has approved the initial public offering registration of Changxin Technology Group Co., Ltd.

The Hong Kong Securities and Futures Commission has listed three "exiovip" related websites as suspicious virtual asset trading platforms, according to a report from the licensed virtual asset trading platform EXIO Limited. One of the websites is a fraudulent site, and the other two websites have no connection to EXIO Limited.In addition, the Hong Kong Securities and Futures Commission has also listed "chenguanginvestment" as a suspicious website, clarifying that this website has no connection to the licensed institution Capital International.

The Hong Kong Securities and Futures Commission further interpreted the circular issued on May 22. The frequently asked questions (Question 9) in the circular mentioned that licensed companies in Hong Kong can continue to open new accounts for investors from mainland China (i.e., investors using Chinese resident identity cards and/or Chinese passports as identification documents), but must comply with all account opening regulations.The Hong Kong Securities and Futures Commission stated that licensed companies in Hong Kong can continue to provide services to existing clients from mainland China, provided that such services are not offered within mainland China and that they have complied with all relevant laws and regulatory requirements of Hong Kong and applicable jurisdictions. The Hong Kong Securities and Futures Commission also noted that it is aware of the notice jointly issued by the mainland authorities on May 22, 2026, and that the relevant requirements also apply to financial institutions in other jurisdictions (not limited to Hong Kong) when providing services to investors from mainland China.

According to the official announcement, the Hong Kong Securities and Futures Commission and the Hong Kong Monetary Authority have published a joint consultation summary regarding the amendments to the over-the-counter derivatives trading regulations under the Clearing Rules. In light of the broad market support, the Hong Kong Securities and Futures Commission and the Hong Kong Monetary Authority will proceed with the legislative process to introduce the proposed amendments to the Clearing Rules, with plans to implement the relevant amendments starting from March 1, 2027 (the proposed start date for the new calculation period).

In a recent speech, the Chairman of the Hong Kong Securities and Futures Commission, Huang Tianyou, revealed that the trading volume of 12 licensed virtual asset trading platforms in Hong Kong has exceeded HKD 640 billion for 2025, with the trading volume in the first quarter of this year increasing nearly threefold year-on-year.In addition, brokers engaged in virtual asset-related businesses saw their commission income related to this sector grow by over 80% year-on-year last year.

According to Cointelegraph, SEC Commissioner Hester Peirce defended cryptocurrency privacy tools, calling them legitimate financial infrastructure, and warned regulators not to be skeptical of privacy-enhancing technologies.

According to the official website of the U.S. Securities and Exchange Commission (SEC), SEC Commissioner Hester M. Peirce delivered a speech at the "Regulating the PETshop Series" seminar at Georgetown University Law Center, calling for the inclusion of Privacy-Enhancing Technologies (PETs) in the financial regulatory framework.She criticized the current regulatory approach for being overly inclined towards government surveillance, arguing that technology should serve to protect personal privacy rather than expand the scope of surveillance, and pointed out that blockchain public wallet addresses can reduce the risk of personal information leakage for investors while meeting compliance requirements.Peirce also invited technology teams that can minimize personal information collection while meeting KYC and anti-money laundering regulatory requirements to actively collaborate with the SEC's Crypto Task Force.

According to on-chain analyst Yu Jin's monitoring, the Hyperliquid TG trading bot and pvp.trade have accumulated approximately $8.68 million in revenue through trading fee commissions, making it one of the top Builders in the Hyperliquid ecosystem.After Hyperliquid issued its token, pvp.trade has continuously used its commission income to buy HYPE. Currently, it has used $8.68 million to purchase 421,000 HYPE tokens, with an average cost price of only $20.6. As HYPE has risen, the value of its holdings has now increased to approximately $24.34 million. However, pvp.trade redeemed 400,000 HYPE from staking yesterday, valued at about $22.8 million, and it is unclear whether there are plans to take profits at the current high level.

According to FinanceFeeds, the Australian Securities and Investments Commission (ASIC) has issued a warning that scammers are defrauding retail investors through messaging apps like WhatsApp and fake cryptocurrency trading platforms. Scammers typically post investment advice on social media to attract users to join message groups disguised as well-known financial figures or trading communities, then lure them into depositing funds into fake platforms. These platforms simulate profits by fabricating trading data, and when users attempt to withdraw funds, they are asked for additional "unlock fees," with all funds flowing directly into the scammers' accounts.Additionally, scammers are targeting investors who have already suffered losses by promoting fake "fund recovery services" for secondary fraud. According to Moneysmart survey data, 23% of Australians aged 18 to 28 hold cryptocurrency assets, 72% of Generation Z have seen cryptocurrency ads on social media, and 41% have been directly persuaded to invest in cryptocurrencies, indicating a significantly higher risk exposure among the younger demographic. ASIC advises investors to be cautious of investment advice on social media and recommends verifying the compliance qualifications of platforms through the AUSTRAC virtual asset service provider register.