Disruption Banking Weekly Highlights (14)
Disruption Banking
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It’s time to catch up with the latest news and analysis from #DisruptionBanking in London!
Harry Clynch started the week by looking into the ramifications of the stringent new security law “Article 23” recently introduced in Hong Kong. While critics fear the law will allow the Chinese authorities to clamp down on civil liberties and deter foreign investment, proponents say that the law has been received with “cautious optimism” and that fears are unfounded.
Adéníyì Mákindé also explored developments in Hong Kong last week, responding to the news that the city has launched its first crypto ETFs. Makinde says that “looking beyond Hong Kong, the launch of crypto ETFs in the region could have ripple effects across other financial centres in Asia."
Harry then looked at the escalating tensions between Iran and Israel in the Middle East. Tehran stepped back from the brink of war with Israel, and Harry suggests that this could have been because of Iran’s shaky economy at home. “With the government facing budget deficits, any major military conflict involving Iran in the region would lead to severe disruptions in the Iranian market, and the further depreciation of the Iranian currency against the US dollar,” an expert tells Harry.
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Ayanfe Fakunle looked into whether pension funds are embracing cryptocurrencies. Pension funds are known for their conservative strategies; however it seems that more funds are becoming open to the idea of digital assets. “As the market matures and clearer regulations emerge, we may witness a more open dialogue and a strategic embrace of cryptocurrencies within pension portfolios,” Ayanfe writes.
Harry responded to comments made by Michael Howell, CEO of global liquidity research firm CrossBorder Capital. Howell argued that Western governments are driving down the value of the Japanese yen in order to indirectly undermine the Chinese yuan. Could this be the case? Harry explores here:
Check back next week for more news, features, and analysis from #DisruptionBanking.