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Legacy bank HSBC announced its latest blockchain endeavor in partnership with a Ripple-owned firm to service institutional clients with demand for real-world assets (RWA) hosted on-chain. According to a Nov. 8 statement, HSBC plans to launch a digital asset custody service for tokenized financial instruments sometime in 2024. Metaco, a Swiss firm specializing in safeguarding crypto assets, was named HSBC’s partner for its new product. Ripple acquired Metaco for $250 million in May 2023. The bank said the offering would complete a 360-degree platform along with its digital asset issuance service and its product which tokenizes physical gold, allowing eligible investors greater access to RWAs and traditional investment vehicles housed on blockchain networks.  1/3 @HSBC announced that it is working with @metaco_sa as it plans to launch a new digital assets custody service for institutional clients who invest in tokenised securities . To learn more: https://t.co/aI6IiaEvhu cc @M...

Decentralized file-sharing network LBRY (LBC) filed a declaration of intent to challenge the accusations that the SEC had moved against it. In a Sept. 7 filing, LBRY’s legal counsel appealed to the United States Court of Appeals for the First Circuit. This Court’s final judgment was issued in July. The judge then declined to rule whether the sale of LBRY’s LBC tokens constituted an unregistered security offering. LBRY, a decentralized content platform, has been embroiled in a legal battle with the US Securities and Exchange Commission (SEC). The regulator filed a civil lawsuit against LBRY in March 2021, alleging that the platform’s unregistered sales of LBRY Credits (LBC) constituted securities offerings. The SEC sought a $22 million disgorgement request and an injunction to halt any further LBC sales by LBRY. In November 2022, the SEC emerged victorious in the case, with the court ruling that LBC qualified as a security. LBRY, however, criticized the SEC’...

Speecher：Keith Choy, Interim Head of Intermedlaries Division, Hong Kong Securities and Futures Commison(Chairman of Fintech Advisory Group) Editor：@null_aez, WuBlockchain Link: https://www.web3festival.org/hongkong2023/live?lang=zh-CN Good morning. It’s an honor to be invited to speak at this wonderful festival. Over the past few years, there have been many amazing developments and breakthroughs across various technologies. For example, we’ve seen enterprises incorporating artificial intelligence within their bussinesses, central banks, financial insititions are exploring the benefits of using distributed ledger technology (DLT). Just a few weeks ago, I experienced firsthand the wonders of Chatgpt. The potential applications of this technology and the like, and their reifications are huge. We’ve seen news report that financial firms are testing the tool and using it to write research reports. I must confess the thought of using Chatgpt to write this speech has also come across my mind....