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October 2024

Hong Kong Sets AI Guidelines for Finance, Eyes Tax Break for Digital Assets

Hong Kong has unveiled its inaugural policy guidelines focused on the use of artificial intelligence in finance, alongside a potential tax incentive for digital assets, in a bid to strengthen its position as a premier business hub in Asia. According to Bloomberg, the new measures aim to create a supportive yet regulated environment for AI and digital asset investment, central to Hong Kong’s strategy to draw international investors back to its markets. On Monday, senior government officials announced a unified framework designed...

May 2024

US. Wisconsin pension fund now includes bitcoin

BY RICH KREMER   Wisconsin’s pension fund has added bitcoin to its balance sheets, buying more than $160 million worth of shares in two newly approved funds earlier this year. U.S. Securities and Exchange filings from the State of Wisconsin Investment Board show that between Jan. 1 and March 31, it bought just more than $99 million worth of shares in a bitcoin exchange-traded fund, or ETF, from investment juggernaut Blackrock. The Investment Board, known as SWIB, also bought about $64 million worth of another...

March 2024

Leveraging FinTech Compliance to Mitigate Cryptocurrency Volatility for Secure US Employee Retirement Benefits: Bitcoin ETF Case Study

By Samuel Oladiipo Olabanji, Tunbosun Oyewale Oladoyinbo, Christopher Uzoma Asonze, Chinasa Adigwe, Olalekan J Okunleye & Oluwaseun Oladeji Olaniyi The integration of cryptocurrencies, particularly Bitcoin, into retirement savings plans has recently garnered significant attention. This interest has been amplified by the U.S. Securities and Exchange Commission's approval of Bitcoin Exchange-Traded Funds (ETFs) in January 2024 and Fidelity Investments' decision to include Bitcoin in their 401(k) plans. These landmark developments represent a paradigm shift in retirement investment strategies, merging traditional financial...