Morgan Stanley to Enter Chinas Futures Market, Kicks off Series of Major Finance Events

Morgan Stanley to Enter Chinas Futures Market, Kicks off Series of Major Finance Events

Morgan Stanley has been given permission to open a new branch in China, specifically a futures company in Beijing, which will help open up China’s futures market, according to reports.

Reports by reports, Morgan Stanley, a US-based financial institution that provides a range of financing banking, securities, financing management and wealth management services, has eventually  received permission to open a new branch in China.

The country’s securities watchdog, the China Securities Regulatory Commission (CSRC), stated earlier today, May 26, it had allowed Morgan Stanley to establish a China futures company.

The company will be based in Beijing, and with it, Morgan Stanley will assist open up the country’s futures market.

Reports by the regulator’s statement, this is only the 1st step. Reports by the Commission,

In the following step, the China Securities Regulatory Commission (CSRC) will continue to deepen the opening up of the futures market and support qualified overseas institutions to invest in domestic futures companies.

Earlier in the year, in April, Morgan Stanley stated it was looking forward to launching a new future company in China.

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Nonetheless, the company 1st had to wait for China’s regulatory authorities to accept its application. Now that this has eventually  happened, Morgan Stanley is clear to proceed to the following step.

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Another interesting development in China recently saw a segment on Chinese state television about digital currencies. Given China’s general unfriendly stance toward cryptocurrency, the cryptoverse was quite surprised.

Binance’s CEO, Changpeng Zhao, pointed out that similar reporting had triggered bull runs in the past. This does not guarantee that a new bull run will happen, but it remains a possibility.

CZ stated on Twitter platform that CCTV (China Central Television) broadcasted digital currencies and that he believes it to be a “big deal.”

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Zhao also mentioned that the Chinese-speaking communities are buzzing and that similar coverages in the past have led to bull runs. He was quick to add that this is not financial advice and that the past doesn’t necessarily predict the future.

The segment he referred to aired on May 23, focusing on a new mandatory licensing scheme for Hong Kong-based cryptocurrency trading platforms.

Additionally, the segment stated that corporations that offer crypto-related services must apply for a license from the Hong Kong Securities and Futures Commission (SFC) by June 1st at the latest.

On that date, the new cryptocurrency guidelines will come into effect in Hong Kong.

Another interesting detail is the fact that China’s Finance Ministry plans to reopen 23 Billion yuan ($3.25 billion) of 50-year bonds only one day after the new guidelines come into effect, on June 2.

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To put it another way, there are numerous whole lot of finance-related events taking place in China at this time, most of which could have a strong impact on its economy.

Hong Kong itself is becoming a substantial cryptocurrency hub, beginning with numerous cryptocurrency conferences scheduled to take place this year.

In the meantime, on the Chinese mainland, cryptocurrency mining, trading, and most other crypto-related activities remain banned after the country announced a total cryptocurrency ban in 2021.

This was likewise the occasion when it forced Bitcoin (BTC) miners to leave and seek a new home elsewhere in the world.


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