Regulatory ambiguities delay Ant Group’s $360 million acquisition in the fintech sector

Bitget App

Trade smarter

Bitget

News

Markets

Regulatory ambiguities delay Ant Group’s $360 million acquisition in the fintech sector

Bitget-RWA2025/11/13 02:10

By:Bitget-RWA

- Ant Group delays $360M Bright Smart Securities acquisition deadline to 2025/11/25 due to regulatory uncertainties. - Hong Kong regulators approved the 50.1% stake deal, but mainland China's NDRC has not finalized its review. - Share prices fell 4% as Beijing's heightened fintech oversight echoes 2020 IPO collapse risks. - Acquisition aims to secure virtual asset trading license amid Asia's complex cross-border regulatory landscape. - Outcome could set precedent for fintech consolidation in Asia's blockch

Ant Group, the fintech subsidiary of

Alibaba

, has revealed it will push back the deadline for its planned purchase of Hong Kong-listed stablecoin-related company Bright Smart Securities, according to information from

LookOnChain

. The initial closing date, which was scheduled for November 25, 2025, as outlined in their April agreement, is now postponed due to ongoing regulatory uncertainties. The deal, worth HK$2.81 billion (about $360 million), is still awaiting approval from both the Hong Kong Securities and Futures Commission and China’s National Development and Reform Commission, as noted by

Finimize

. As of November 13, 2025, it is uncertain if all necessary conditions will be satisfied by the original deadline.

The transaction, which would give Ant Group a 50.1% controlling interest in Bright Smart, has come under the scrutiny of Chinese regulators, highlighting broader concerns over large tech firms engaging in cross-border financial activities. While Hong Kong’s authorities have already approved the acquisition, mainland regulators have not yet completed their assessment, according to

Finimize

. Jason Hui, CEO of Bright Smart, stated that the company’s connection with Ant is strictly that of a bidder and a target, but mentioned they are keeping an eye on market developments and considering possible upgrades to their virtual asset trading licenses, as reported by

LookOnChain

Investor response has been divided. Shares of Bright Smart dropped more than 4% after the delay was announced, reflecting worries about regulatory obstacles, as reported by

Finimize

. Experts attribute the delay to stricter oversight from Beijing over fintech growth, especially following the halted Ant Group IPO in 2020, which brought regulatory risks in the industry to light, as noted by

Finimize

. The postponement also illustrates the difficulties of managing compliance with two sets of regulations in cross-border transactions, a challenge expected to continue as Chinese regulators focus on maintaining financial stability, as reported by

Finimize

Ant Group has not provided detailed reasons for the delay, but previously suggested that acquiring Bright Smart could support its application for a virtual asset trading platform license, according to

LookOnChain

. This move fits with the industry’s broader shift toward blockchain-powered financial solutions, though regulatory uncertainty remains a significant challenge. The result of this acquisition may influence future fintech mergers in Asia, where aligning regulations across borders is often complicated.

As developments unfold, market participants will be watching closely for further announcements from Ant Group and the relevant authorities. The extension of the timeline highlights the changing nature of fintech regulation, where innovation and regulatory oversight frequently intersect in unexpected ways.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops

Lock your assets and earn 10%+ APR

Lock now!

- Japan's FSA mandates crypto exchanges to use registered custodians post-2024 DMM Bitcoin hack, requiring third-party providers to pre-register with regulators. - The rule addresses regulatory gaps exposing cold wallet vulnerabilities, as Tokyo-based Ginco's breach revealed unregulated external firms handling critical operations. - Parallel initiatives include JPYC stablecoin approval and a 2025 bank-led stablecoin payment pilot under the FSA's Payment Innovation Project. - The FSA plans 2026 legal reform

Bitget-RWA•2025/11/13 06:15

XRP News Today: BIS Risk Weighting Limits XRP's Function in Bank Liquidity

- XRP's limited adoption by banks stems from BIS's 1250% risk weight on unbacked crypto, not technical flaws. - Ripple tests RLUSD stablecoin with Mastercard/WebBank to enable blockchain-based credit card settlements. - Policy shift in crypto risk weighting is critical for XRP to replace USD as cross-border liquidity bridge. - RLUSD's $1B+ circulation and BNY Mellon backing demonstrate regulated stablecoin viability in payments. - Regulatory barriers persist despite industry progress, keeping XRP confined

Bitget-RWA•2025/11/13 05:58

XRP News Today: BIS Risk Weighting Limits XRP's Function in Bank Liquidity

SEC Framework Aims to Settle Ongoing Regulatory Disputes in Crypto

- SEC proposes a token taxonomy framework using the Howey Test to classify crypto assets into four categories, balancing regulation and innovation. - The framework allows tokens to transition from securities to non-securities as projects decentralize, addressing evolving blockchain dynamics. - It enables CFTC/state-regulated trading for certain tokens while legislative efforts aim to shift major crypto oversight to the CFTC. - Implementation faces challenges including CFTC capacity limits and pending Senat

Bitget-RWA•2025/11/13 05:58

SEC Framework Aims to Settle Ongoing Regulatory Disputes in Crypto

ALGO Gains 3.02% as Operations Resume and Financing Advances

- Largo resumes operations in late 2025, aiming to boost production and secure $23.4M+ $84.2M in financing to defer debt repayments until 2026. - The vanadium market faces pressure from oversupply and sanctions, while U.S. FeV prices remain 24% higher than Europe’s due to regional demand disparities. - ALGO surges 3.02% amid Largo’s operational progress, though its 1-year price dropped 46.97% amid broader market volatility and sector challenges.

Bitget-RWA•2025/11/13 05:52