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Hong Kong Monetary Authority hopes proposed term ‘licensed digital bank’ will inspire confidence in those that use such facilities when online fraud is on the rise.
De facto central bank aims for first-mover advantage through blockchain technology, providing welcome lift to Hong Kong’s image as global financial centre
From wealth management to bonds and banking services, mainland China has shown further support for city as a financial hub
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- Police in China’s northeastern Jilin province made the arrests in connection with a scheme that sent US$296 million to South Korea
- Beijing has increased its efforts in combating illicit crypto outflows, including an update to its Anti-Money-Laundering Law now under review
China has begun to test paying some state employees through its digital currency, but the trial is not making much impact in the e-CNY’s adoption as most quickly and automatically switch their salaries to cash.
A mix of mainlanders and international visitors showed up at Bitcoin Asia amid surging interest owing to a crypto bull market and recently launched ETFs.
Harvest CEO Han Tongli said he ‘doesn’t rule out’ applying to get the spot crypto ETFs on the Stock Connect scheme as long as ‘everything goes smooth’ in the next two years.
FTX said in a court filing it owes about US$11.2 billion to its creditors. The exchange estimates it has between US$14.5 billion and US$16.3 billion to distribute to them.
The city’s three ETFs that invest directly into bitcoin saw US$5.5 million change hands on Friday, down from US$8.6 million in their Tuesday debut.
Hong Kong’s largest virtual bank is preparing to introduce virtual asset trading services for retail investors, CEO Ronald Iu says. Plans are afoot as a new regulatory regime is rolled out in June.
The world’s largest cryptocurrency exchange allowed numerous trades that violated US sanctions, including ones involving Hamas, al-Qaeda and Iran.
Six bitcoin and ether ETFs saw US$12 million in trading on Tuesday, compared with US$4.6 billion for US bitcoin ETFs on their first day.
Blockchain made up about 15 per cent of the talks at Money20/20 Asia this year, just slightly below the proportion of talks on AI, as interest remains high in Asia.
Investigation into Yao Qian, who serves as the director of the department of technology supervision at the China Securities Regulatory Commission, comes amid an uptick in market reforms.
Once the most powerful figure in the crypto industry, Zhao stepped down as Binance’s chief last November, when he and the exchange admitted to evading anti-money-laundering requirements.
The world’s largest crypto exchange saw its share of bitcoin trading outside the US drop to 55 per cent from 81 per cent, according to a research firm.
Spot bitcoin and ether ETFs in Asia could be attractive to investors looking to avoid US tax laws, but the market is still relatively ‘tiny’.
Bosera Asset Management, HashKey Capital, Harvest International and ChinaAMC are all working on spot crypto ETFs after the SFC’s first conditional approvals.
Tokenisation has proved to be cheaper, more efficient and better than ‘the old-fashioned way of trading’, Noel Quinn says, but HSBC will stay ‘away from crypto’.
HashKey will facilitate the sale and purchase of Toncoin, the native token of the TON blockchain, which was started by Telegram Messenger.
Crypto industry executives were touting the benefits of bitcoin at the four-day Web3 Festival amid anticipation for the approval of spot ETFs this month.
Vitalik Buterin made a rare last-minute appearance at Hong Kong’s biggest Web3 event for a 20 minute technical talk on blockchain tech.
The numbers do not lie, Hong Kong’s financial regulators told the HSBC Global Investment Summit on Tuesday. The city’s market has shown resilience and competence through several years of economic headwinds.
Hong Kong’s biggest licensed cryptocurrency exchange operator has launched a global trading platform, but it is not available in the US or China.
While there were fewer exhibitors this year, the Web3 Festival has attracted a more international crowd with 80 per cent of participants from outside the city.
Google’s lawsuit shows the continued rise of such scams around the world, which have duped tens of thousands of victims into making investments via fraudulent online platforms.
Tether CEO Paolo Ardoino’s new venture Holepunch has launched a peer-to-peer messaging app called Keet to aid the mission of ‘financial freedom’.
HKVAEX is advising users to withdraw funds this month ahead of its May 1 shutdown, just three months after it submitted an application for a crypto licence.
Customers said they are still owed more than US$19 billion and hoped for a stiffer punishment for the disgraced cryptocurrency mogul.
US District Judge Lewis Kaplan handed down the sentence after rejecting Bankman-Fried’s claim that FTX customers did not actually lose money and accusing him of lying during his trial testimony.
Bitcoin halving, a once-every-four year event baked into the system, will slash the reward that is the main revenue stream for miners.
