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WeBank’s headquarters in Shenzhen. Photo: Handout
Digital currencies

Tencent-backed WeBank eyes Web3 expansion in Hong Kong

WeBank chief information officer Henry Ma said the virtual bank will be “deeply involved” in developing Hong Kong’s Web3 infrastructure.

Digital currencies

Hong Kong bitcoin ETFs could open to some mainland investors under new measures

Blockchain

Trump’s meme coin draws billions in crypto trading volume

Blockchain

Trump plans to make cryptocurrency a national priority, sources say

The US president-elect plans to release an executive order to advocate for the crypto industry’s policy priorities, according to sources.

US president-elect Donald Trump plans to designate cryptocurrency as a national priority, according to people with knowledge of the matter. Photo: Reuters
US president-elect Donald Trump plans to designate cryptocurrency as a national priority, according to people with knowledge of the matter. Photo: Reuters
Blockchain

BitMEX fined US$100 million for violating anti-money-laundering laws

Prosecutors accuse BitMEX and its founders of failing to adopt anti-money-laundering and “know your customer” programmes.

Blockchain

Bitcoin doubles in 2024, as analysts expect more gains in 2025

‘We remain convinced US$100,000 is not the final milestone,’ analysts at brokerage Bernstein say.

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Cryptocurrency

China’s new forex rules require banks to tighten scrutiny on crypto trades

The State Administration of Foreign Exchange wants banks to monitor and report risky trades, including those involving cryptocurrencies.

China’s foreign exchange regulator has tightened scrutiny on commercial activities involving bitcoin and other cryptocurrencies. Photo: Shutterstock
China’s foreign exchange regulator has tightened scrutiny on commercial activities involving bitcoin and other cryptocurrencies. Photo: Shutterstock
Cryptocurrency

Trump-fuelled bitcoin rally loses steam as year draws to a close

Scaled-back expectations for interest-rate cuts by the US Federal Reserve have cooled the speculative frenzy in the cryptocurrency market.

Blockchain

Bitcoin rally loses steam in final days of record-breaking year

Bitcoin and its smaller rivals are struggling for traction, after the largest cryptocurrency surged to a record high last week.

Digital currencies

As stablecoin bill advances in Hong Kong legislature, advocates trumpet it

Stablecoins have the ability to expand their usage in the real financial economy, according to industry experts.

A bill about stablecoins is making its way through the Legislative Council. Photo: Shutterstock
Cryptocurrency

Bitcoin records first weekly decline since Donald Trump’s US election victory

The original cryptocurrency was down more than 7 per cent for the seven-day period through 9:27am on Monday in Singapore.

The US Federal Reserve’s third straight interest-rate cut dampened the speculative spirits unleashed in the cryptocurrency market by Donald Trump’s pledge of friendly regulations. Photo: EPA-EFE
The US Federal Reserve’s third straight interest-rate cut dampened the speculative spirits unleashed in the cryptocurrency market by Donald Trump’s pledge of friendly regulations. Photo: EPA-EFE
Digital currencies

Hong Kong licenses 4 more crypto exchanges amid bitcoin price surge

The approvals bring the total number of licenced virtual asset firms to seven, as Hong Kong moves to revive its crypto industry.

Digital currencies

US bankers cautious about crypto amid expectations of regulatory easing

Goldman Sachs CEO David Solomon said the Wall Street giant would ‘evaluate’ dealing in top cryptocurrencies like bitcoin and ether if rules change.

Digital currencies

Hong Kong’s crypto faithful favour local regulations, fear ‘unpredictable’ Trump

The chair of the Silk Road Economic Development Research Centre said the city still has a chance to lead in Web3 in the next decade.

Some still see room for Hong Kong to be a global leader in cryptocurrency, even as momentum shifts to the US in anticipation of Donald Trump’s return to the presidency. Photo: Shutterstock
Digital currencies

Hong Kong to introduce stablecoin bill to regulate virtual token

The government published the Stablecoins Bill in the gazette on December 6; first reading in the Legislative Council set for December 18.

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If passed, the Hong Kong Monetary Authority will be empowered to supervise, investigate and enforce the regulatory regime. Photo: Shutterstock Images
If passed, the Hong Kong Monetary Authority will be empowered to supervise, investigate and enforce the regulatory regime. Photo: Shutterstock Images
Digital currencies

China’s selfie app Meitu sells all crypto before bitcoin hit US$100,000

Meitu netted US$80 million on bitcoin and ether holdings, exiting the crypto market amid a historic rally after the US re-elected Donald Trump.

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Cryptocurrency

Bitcoin tops US$100,000 for the first time on Trump crypto bump

Bitcoin has more than doubled in value this year and is up more than 45% in the four weeks since Trump’s election win.

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Digital currencies

Bybit CEO says Chinese can trade crypto though VPN, but not with yuan

Bybit CEO Ben Zhou says the company plans to reapply for a Hong Kong licence next year even though regulators bar selling crypto to mainlanders.

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Bybit co-founder and CEO Ben Zhou said the cryptocurrency exchange would not cross China’s “red line” of allowing trading in yuan. Photo: Shutterstock
Bybit co-founder and CEO Ben Zhou said the cryptocurrency exchange would not cross China’s “red line” of allowing trading in yuan. Photo: Shutterstock
Digital currencies

Decentralised kingdom: bitcoin’s Trump bump and how China lost its crypto crown

As the world’s factory, China cornered the market on bitcoin mining, leading to a flurry of crypto business activity before a harsh crackdown in 2021.

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Blockchain

Hong Kong offers grants to boost tokenised bond issuance

The city’s de facto central bank is handing out up to HK$2.5 million in subsidies per issuance to qualified tokenised-bond issuers.

Hong Kong stock market

Chinese game developer Boyaa rides bitcoin boom; Hong Kong shares rise ninefold

The company, which develops online card and board games, started investing in digital currencies in 2023.

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Boyaa started investing in digital currencies in 2023. Photo: Reuters
Blockchain

Bitcoin’s march towards historic US$100,000 level stalls

‘Bitcoin was extremely overbought since the election,’ one analyst says.

Bitcoin hovered near US$97,000 early in Asia on Monday. Photo: AP Photo
Bitcoin hovered near US$97,000 early in Asia on Monday. Photo: AP Photo
Blockchain

Bitcoin hits US$97,000 as crypto sector seeks White House post

The world’s largest digital asset reaches an all-time high in Asia on Thursday.

Digital currencies

Shanghai court says crypto ownership legal in China amid bitcoin price surge

In an opinion on a recent lawsuit, a Shanghai judge wrote that cryptocurrencies have the attributes of property and thus holding it is legal.

US presidential election 2024

Dogecoin soars as Trump names Musk to head new DOGE efficiency department

‘Dogefather’ Musk is a long-time fan of the cryptocurrency with the canine mascot, and a staunch backer of the US president-elect.

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Dogecoin was seen as a joke at first, but has since amassed a group of fans who have periodically sent its price soaring. Photo: Shutterstock
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Big Tech

China’s most popular AI app gets facelift with ByteDance’s Doubao 1.5

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ByteDance’s ChatGPT-like Doubao bot has emerged as the most popular AI app for Chinese consumers. Photo: Simon Song

Big Tech

Artificial Einstein: ByteDance’s viral AI video model brings photos to life

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ByteDance has rapidly become one of the leading artificial intelligence players in China. Photo: Shutterstock

Science

DeepSeek ‘is biggest shock to come out of China in 185 years’

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DeepSeek’s announcement sent shockwaves through US tech firms and stock markets. Photo: Dreamstime/TNS

Big Tech

What’s next for DeepSeek? AI start-up stays mum amid post-holiday plaudits

DeepSeek employees are staying vigilant on guarding sensitive corporate information amid the Chinese company’s rising global recognition. Photo: Shutterstock

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China Future Tech webinar | How is DeepSeek shaping the race for AI supremacy?

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