🚀 Hong Kong Chief Executive To Deliver Policy Address Next Month
#HongKong #PolicyAddress #JohnLee #PwC #CapitalMarket #Investment #TalentAcquisition #DigitalEconomy #GlobalCompetitiveness #FinancialResilience #SmartCity #DigitalInnovation #VirtualAssets #Infrastructure
According to Odaily, Hong Kong Chief Executive John Lee will deliver his third Policy Address on the 16th of next month. PricewaterhouseCoopers (PwC) has released a preview of the Policy Address, recommending a three-pronged strategic approach for the Hong Kong government. The strategy includes rebuilding confidence in the capital market, enhancing the overall attractiveness for investment and talent acquisition, and seizing opportunities in the digital economy to comprehensively boost Hong Kong's global competitiveness and financial resilience.
PwC emphasized that in an era of rapid technological advancement, Hong Kong should position itself as a pioneer in smart city development and digital innovation. To optimize opportunities in the digital economy, the focus should be on two key components: developing robust digital and virtual asset platforms, and strengthening digital economy infrastructure.#HongKong #PolicyAddress #JohnLee #PwC #CapitalMarket #Investment #TalentAcquisition #DigitalEconomy #GlobalCompetitiveness #FinancialResilience #SmartCity #DigitalInnovation #VirtualAssets #Infrastructure
🚀 UAE Exempts Digital Asset Transfers And Conversions From VAT
#UAE #DigitalAssets #VATExemption #Cryptocurrency #VirtualAssets #InvestmentFunds #TaxRegulations #VARA #VASPs #FinancialRegulation #PwC #InputVATRecovery #CryptoMarketing
According to Cointelegraph, the United Arab Emirates (UAE) has introduced amendments to its value-added tax (VAT) regulations, exempting transfers and conversions of digital assets, including cryptocurrencies. The UAE’s Federal Tax Authority (FTA) published these changes on October 2, with the new rules also covering VAT exemptions for managing investment funds and other virtual asset services. These exemptions will be applied retrospectively from January 1, 2018, as noted by business consultancy PwC.
PwC explained that in the UAE, virtual assets are defined as representations of value that can be digitally traded or converted and used for investment purposes, excluding fiat currencies and financial securities. The auditing firm advised businesses dealing with virtual assets to review their retrospective VAT positions and pay special attention to input tax recovery. UAE-based bookkeeping and tax company Finanshels highlighted that input VAT recovery allows registered businesses to claim back VAT paid on eligible business purchases. PwC also mentioned that correcting historic returns might require voluntary disclosures from virtual asset companies.
In addition to VAT exemptions, the UAE has been enhancing its regulations on virtual assets. On September 9, Dubai’s Virtual Asset Regulatory Authority (VARA) and the Securities and Commodities Authority (SCA), the UAE’s federal financial agency, agreed to mutually supervise virtual asset service providers (VASPs). This agreement allows VASPs operating in Dubai to acquire a license from VARA and service the wider UAE by being registered with the SCA by default. Furthermore, VARA has tightened its rules on crypto marketing. On September 26, the regulator mandated that firms promoting digital asset investments include a prominent disclaimer stating that virtual assets may lose their value in full or in part and are subject to extreme volatility.#UAE #DigitalAssets #VATExemption #Cryptocurrency #VirtualAssets #InvestmentFunds #TaxRegulations #VARA #VASPs #FinancialRegulation #PwC #InputVATRecovery #CryptoMarketing
🚀 Nearly Half Of Traditional Hedge Funds Now Invest In Cryptocurrencies
#HedgeFunds #Cryptocurrencies #DigitalAssets #Investment #RegulatoryFrameworks #ExchangeTradedFunds #CryptoHedgeFund #AlternativeInvestment #PwC #GlobalCryptoHedgeFundReport
According to Odaily, a new survey reveals that nearly half of hedge funds focused on traditional asset classes are now involved in cryptocurrencies. This shift is attributed to clearer regulatory frameworks and the introduction of exchange-traded funds in the United States and Asia, which have attracted more investors to the cryptocurrency sector. The Global Crypto Hedge Fund Report, released on Thursday by the Alternative Investment Management Association and PwC, indicates that 47% of hedge funds trading in traditional markets now hold digital assets. This is a significant increase from 29% in 2023 and 37% in 2022.
The survey also found that among the funds already invested in cryptocurrencies, 67% plan to maintain their current level of capital in digital assets. The remaining funds intend to increase their investments by the end of 2024.#HedgeFunds #Cryptocurrencies #DigitalAssets #Investment #RegulatoryFrameworks #ExchangeTradedFunds #CryptoHedgeFund #AlternativeInvestment #PwC #GlobalCryptoHedgeFundReport
🚀 Hedge Funds Increasingly Invest In Digital Assets, Report Finds
#HedgeFunds #DigitalAssets #Investments #Cryptocurrencies #AlternativeInvestments #PwC #ForesightNews
According to Foresight News, a report released on Thursday by the Alternative Investment Management Association and PwC reveals that 47% of hedge funds trading in traditional markets now hold digital assets. This marks a significant increase from 29% in 2023 and 37% in 2022.
The survey also found that among the funds already invested in digital assets, 67% plan to maintain their current level of investment. The remaining funds intend to increase their investment in cryptocurrencies by the end of 2024.#HedgeFunds #DigitalAssets #Investments #Cryptocurrencies #AlternativeInvestments #PwC #ForesightNews
🚀 PwC Survey Highlights Divergence In Interest Between Asset Managers And Institutional Investors
#PwC #survey #assetmanagers #institutionalinvestors #digitalassets #tokenization #moneymarketfunds #hedgefunds #privatedebt #privateequity #cryptocurrencies #securitytokens #digitalassetcompanies
According to Odaily, a recent survey by PricewaterhouseCoopers (PwC) reveals a notable divergence in interest between asset managers and the institutional investors they serve, particularly concerning digital assets and tokenization. The survey highlights a significant gap in the area of tokenized money market funds. While 40% of institutional investors currently hold or plan to hold tokenized money market funds, only 24% of asset managers offer or intend to offer these funds.
In addition, the survey indicates that asset managers may overestimate investor interest in the tokenization of hedge funds and private debt. Asset managers view private debt as an ideal area for tokenization, with 31% expressing interest, yet only 24% of investors share this enthusiasm. Both asset managers and investors agree that private equity is the most attractive area for tokenization.
The report also explores which digital assets have seen the highest demand over the past 12 months and which assets investors are most interested in over the next two to three years. Asset managers report that cryptocurrencies have been slightly more popular among them (57%) compared to institutional investors (54%), with security tokens ranking fourth at 41%. Looking ahead, investor interest in cryptocurrencies is expected to surpass other digital asset types, with 62% showing interest. Investments in digital asset companies rank second at 46%, while security tokens fall to sixth place at 25%.
The survey included responses from 264 asset managers and 257 investors, with more than half of the participants managing assets exceeding $10 billion.#PwC #survey #assetmanagers #institutionalinvestors #digitalassets #tokenization #moneymarketfunds #hedgefunds #privatedebt #privateequity #cryptocurrencies #securitytokens #digitalassetcompanies
🚀 PwC Italy Collaborates on EU Digital Identity Project Using Blockchain
#PwC #Italy #EUDigitalIdentity #Blockchain #SKChainAdvisors #DigitalIdentity #SelfSovereignIdentity #SSI #WorldMobileChain #DecentralizedIdentity
According to Odaily, PwC's Italian branch is partnering with blockchain consultancy SKChain Advisors to develop a digital identity product for the European Union. This initiative is being built on the World Mobile Chain and will utilize Self-Sovereign Identity (SSI) technology. SSI is a decentralized identity model that allows users to have full control over their data, eliminating the need to rely on third parties.#PwC #Italy #EUDigitalIdentity #Blockchain #SKChainAdvisors #DigitalIdentity #SelfSovereignIdentity #SSI #WorldMobileChain #DecentralizedIdentity
🚀 PwC Expands Cryptocurrency Efforts Amid U.S. Policy Shift
#PwC #cryptocurrency #digitalassets #USpolicyshift #stablecoins #GeniusAct #assettokenization #blockchain #regulatoryframework #BigFour #marketconfidence #financialindustry #cryptoregulation
According to ChainCatcher, PwC, one of the Big Four accounting firms, is increasing its investment in cryptocurrency and related businesses as the U.S. government shows a significant shift in its stance on digital assets. Paul Griggs, head of PwC in the United States, stated that this strategic adjustment began last year, driven primarily by the appointment of pro-crypto regulatory officials and the advancement of several digital asset-related legislative processes in the U.S. Congress.
Griggs highlighted that the regulatory framework surrounding stablecoins and the 'Genius Act' are contributing to increased market confidence in these assets. He also noted that asset tokenization will continue to develop, necessitating PwC's deep involvement in this emerging ecosystem. These statements reflect how changes in the policy environment are prompting traditional blue-chip institutions to reassess and gradually enter the digital asset market, which they have previously approached with caution.#PwC #cryptocurrency #digitalassets #USpolicyshift #stablecoins #GeniusAct #assettokenization #blockchain #regulatoryframework #BigFour #marketconfidence #financialindustry #cryptoregulation
🚀 Global Cryptocurrency Regulations Predicted to Take Effect in 2026
#cryptocurrency #regulations #stablecoins #compliance #globalimpact #2026 #jurisdictions #PwC
PwC anticipates that comprehensive global cryptocurrency regulations will be implemented by 2026. According to NS3.AI, these regulations are poised to have a substantial impact on stablecoins, compliance protocols, and the competitive dynamics among jurisdictions striving to become the industry's most trusted hubs. The anticipated regulatory changes are expected to transform the cryptocurrency landscape globally.#cryptocurrency #regulations #stablecoins #compliance #globalimpact #2026 #jurisdictions #PwC
🚀 PwC Report Highlights Irreversible Adoption of Crypto Assets by Institutions
#PwC #cryptoassets #institutionaladoption #stablecoins #tokenizedcash #cryptotechnology #financialinfrastructure #crossborderpayments #paymentsystem #USDC
A recent report by PwC emphasizes that institutional adoption of crypto assets has reached an irreversible point. According to Odaily, the focus has shifted from whether institutions should use crypto assets to how they can be integrated into the existing financial system. Crypto assets are increasingly embedded in core financial scenarios such as payments, settlements, fund management, and balance sheet management, with stablecoins playing a crucial role in production-level applications.
PwC notes that stablecoins and tokenized cash are widely used by banks, asset management firms, and payment companies for internal transfers, cross-border payments, and corporate fund operations. Crypto technology is becoming the underlying financial infrastructure, often unnoticed by end users.
The report suggests that once crypto systems are integrated into the core business processes of institutions, the adoption path becomes difficult to reverse. This perspective is echoed by several market participants, including Circle, the issuer of USDC.#PwC #cryptoassets #institutionaladoption #stablecoins #tokenizedcash #cryptotechnology #financialinfrastructure #crossborderpayments #paymentsystem #USDC
🚀 Citigroup, PwC, and Solana Collaborate on Trade Finance Tokenization
#Citigroup #PwC #Solana #TradeFinance #Tokenization #Blockchain #Finance #RealWorldAssets #DigitalAssets #SOL
Citigroup, PwC, and Solana have successfully completed a proof of concept for trade finance tokenization. According to BlockBeats, this initiative allows suppliers to issue tokenized payment vouchers, which can be sold to banks at a discount for immediate settlement, rather than waiting for months. This development marks another step by traditional financial giants in exploring real-world assets on the Solana blockchain.#Citigroup #PwC #Solana #TradeFinance #Tokenization #Blockchain #Finance #RealWorldAssets #DigitalAssets #SOL
🚀 Tether Initiates Full Audit of USDT Stablecoin with KPMG and PwC
#Tether #USDT #Stablecoin #Audit #KPMG #PwC #FinancialScrutiny #Reserves #Liabilities #InternalControls #ReportingSystems #BDOItalia #Expansion
Tether has reportedly advanced its efforts for a comprehensive audit of its $185 billion USDT stablecoin by engaging KPMG and involving PwC to prepare its systems. According to NS3.AI, this move represents Tether's most definitive step towards thorough financial scrutiny as the company plans to expand in the U.S. The completed audit aims to surpass BDO Italia's monthly attestations by thoroughly examining reserves, liabilities, internal controls, and reporting systems.#Tether #USDT #Stablecoin #Audit #KPMG #PwC #FinancialScrutiny #Reserves #Liabilities #InternalControls #ReportingSystems #BDOItalia #Expansion