Quantum Updates 46 | May 2025

Topics and Takeaways:

• Hong Kong Government Enacts Stablecoins Ordinance: Launches Licensing Regime to Regulate Fiat-Referenced Issuers and Digital Asset Ecosystem
• FINMA AI Survey 2025: Half of Swiss Financial Institutions Adopt AI Amid Rising Outsourcing and Governance Risks
• US SEC and Ripple Labs Agree on Conditional Resolution of Longstanding Enforcement Dispute Parties Seek Indicative Ruling to Finalise Settlement over Unregistered XRP Sales
• Hong Kong SFC and Ontario Securities Commission Sign Landmark MoU to Boost Cross-Border Fund Supervision and Investment Management
• Hong Kong SFC and Abu Dhabi’s ADGM FSRA Sign MoU to Strengthen Cross-Border Supervision of Investment Managers and Collective Investment Schemes
• Hong Kong SFC Hosts High-Level Regulatory Dialogue with Lao Securities Commission and Lao Securities Exchange on Capital Market Strategy
• US SEC Charges Unicoin and Top Executives in $100 Million Crypto Asset Fraud: Misleading Claims, Inflated Sales Figures, and Unregistered Offerings of Asset Backed Tokens
• Bitcoin Breaks $111K Barrier Amid Regulatory Shifts and Institutional Inflows