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Cryptocurrency

Cryptocurrency
News and analysis about non-fiat, decentralised assets used as digital currencies, including bitcoin, ether, altcoins and stablecoins.
Cryptocurrency mogul Justin Sun attends a press conference in Hong Kong in April 2025. Photo: Edmond So
United States

Crypto billionaire Justin Sun settles US fraud case for US$10 million

The SEC sued Sun and his firms for securities fraud in 2023, but put the case on hold following Trump’s return to the White House.

Banking & finance

HSBC signals intent to join Hong Kong’s stablecoin regime amid digital hub push

Hong Kong budget 2026-27

Hong Kong’s virtual asset sector considered for taxation under policy review

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Banking & finance

Why China’s rise as a ‘financial superpower’ could depend on Hong Kong

From the yuan’s growth as a global currency to IPO funding to tokenisation, the city is a linchpin in Beijing’s ambitions.

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Illustration: Lau Ka-kuen
Bitcoin

‘Sentiment is bleak’: bitcoin declines amid geopolitical tensions

Bitcoin prices drop as much as 3.2 per cent to US$66,604 on Tuesday, before paring the decline.

Fintech

Can Hong Kong lead a digital gold trading revolution with blockchain innovation?

Beyond banks, asset managers, fintechs and crypto firms are racing to launch innovative tokenised gold products for investors.

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Vietnam

‘Everyone became greedy’: how Vietnam’s crypto gold rush ended in ruins

Vietnam’s crypto boom faces a harsh winter as investors lose fortunes, bankruptcies and lay-offs roil the industry.

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A Vietnamese cryptocurrency investor looks at the latest bitcoin values on a laptop in Hanoi. Photo: AFP
Bitcoin

Crypto rout set to deepen as Standard Chartered warns of further downside risks

Bank expects a ‘price capitulation in the next few months’ before recovering for the rest of the year.

Bitcoin

Policy to products: Web3 innovation takes centre stage at Consensus Hong Kong

SFC CEO Julia Leung Fung-yee announced that the regulator will greenlight virtual asset margin financing for clients with strong credit profiles.

Yuan

‘The Trump factor’ could be luring more foreign investors to China. Here’s why

Global volatility is forcing a rethink of traditional safe havens, creating opportunities for Beijing, prominent investor says.

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US President Donald Trump in the Oval Office at the White House in Washington, on February 2, 2026. Photo: EPA-EFE
Banking & finance

Hong Kong bridges traditional, digital finance with new virtual asset initiatives

The first initiative will allow licensed virtual asset brokers to offer margin financing to clients with strong credit profiles.

Hong Kong’s SFC unveiled new initiatives on Wednesday aimed at further developing the city’s virtual asset sector. Photo: Shutterstock Images
Bitcoin

Consensus 2026 kicks off in Hong Kong amid tighter Beijing oversight

Organised by CoinDesk, the event is an important gathering for digital finance and cryptocurrency professionals.

Stablecoins

Scams and outflows: why China slammed the door on real-world asset tokens

Beijing’s clampdown aims to help safeguard financial security and monetary sovereignty while leaving room for regulated fintech innovation in Hong Kong.

Stablecoins

China tightens crypto crackdown with onshore RWA tokenisation ban

Domestic entities, as well as offshore entities under their control, cannot issue virtual currencies overseas without approval.

The notice also said that no entities can issue yuan-pegged offshore stablecoins without approval. Photo: Shutterstock Images
South Korea

Cryptic error sees South Korea’s Bithumb give away over US$40 billion

Bitcoin prices briefly slumped 17 per cent on the cryptocurrency exchange after the transfers but later recovered.

Bithumb employees pass by an electronic signboard displaying the prices of bitcoin at the cryptocurrency exchange in Seoul on November 21, 2024. Photo: AP
Hong Kong economy

Bargain hunting? Hong Kong retail investors snap up bitcoin amid crypto crash

Dozens seen queuing at cryptocurrency shops at Admiralty Centre to buy bitcoin after price fell by more than half from its peak.

US-China trade war

US Treasury chief warns of China’s push for digital asset dominance

Scott Bessent tells senators the US must pass the Clarity Act to counter Hong Kong’s ‘sandbox’ and maintain global financial leadership.

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United States

Bitcoin drops, driving US$2 trillion slide in crypto market value

The world’s largest cryptocurrency fell to a low of US$66,675.12, its weakest since October 2024, a month before Trump won the US election.

Bitcoin tumbled below US$70,000 on Thursday as negative momentum deepened across cryptocurrencies. Photo: AFP
Bitcoin

Hong Kong crypto investors stay cautious but upbeat as bitcoin sell-off deepens

Bitcoin’s steep pullback has rattled global crypto markets, but in Hong Kong clearer rules on stablecoins are underpinning confidence.

Spain

Chinese hair salon owner arrested in Barcelona for funding Hamas via crypto

The 38-year-old Chinese national faces terror financing charges after allegedly laundering US$715,000 via cryptocurrency to the militant group.

South Korea

73 South Koreans repatriated from Cambodia face online scam probe

Arriving in handcuffs, the suspects allegedly scammed fellow South Koreans out of US$33 million.

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Police officers escort South Koreans allegedly involved in scam operations in Cambodia at Incheon International Airport on Friday. Photo: Reuters
Hong Kong economy

Hong Kong promotes ‘responsible and sustainable’ digital asset regime at Davos

Financial Secretary Paul Chan Mo-po says finance and technology are ‘mutually reinforcing’ but balanced approach needed to support development.

The World Economic Forum in Davos runs until Friday. Photo: AFP
Banking & finance

Scam, corruption cases spark Chinese debate about future of virtual money

The Chen Zhi arrest might push bitcoin prices down temporarily, but analysts said other factors will have greater sway in the long term.

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China’s Communist Party

How Chinese corruption busters are tracking down bribes paid in cryptocurrency

A documentary on state television highlights how a senior central bank official was bribed with a digital currency.

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Crime

China accuses extradited billionaire Chen of running crime network from Cambodia

Beijing says mainland police will put core members of his crime ring on a wanted list and fugitives should ‘turn themselves in’.

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Chen Zhi is accused of multiple crimes, including opening a casino, fraud, illegal operations and concealing criminal proceeds, according to China’s Ministry of Public Security. Photo: Handout
Fintech

Digital finance in 2026: what to expect as pilots move into real-world adoption

While digital money experiments promise greater efficiency, they also risk deeper fragmentation and regulatory pitfalls, experts warn.

Blockchain and Web3 technology are “inherently global”, but real-world applications must be “embedded in regulation and local use cases”, expert says. Photo: Shutterstock
Banking & finance

How China is upgrading its digital yuan for the stablecoin era

Beijing is upgrading its digital currency in response to the rise of stablecoins, but the goal is to create a fundamentally different system.

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Hong Kong

Trip.com tests stablecoin, offering USDT and USDC for prepaid bookings

The travel platform switched on stablecoin checkout in select markets, a cautious offshore pilot as Beijing keeps crypto crackdown in place.

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