Hong Kong

Hong Kong authorities reported on Nov. 27 that 145 users were affected in a scam by the unlicensed cryptocurrency exchange Hounax, resulting in a loss of 148 million HKD ($18.9 million), according to local media Shenzhen Commercial News. On Nov. 25, local police held an initial press ...

A one-year grace period for cryptocurrency exchanges operating in Hong Kong will remain in place despite recent scandals.According to local news reports on Nov. 27, Julia Leung, Hong Kong's Under Secretary for Financial Services and the Treasury, stated, "Even if the grace period ends tomo ...

Hong Kong cryptocurrency exchange HKVAEX has not applied for a virtual asset trading platform license with Hong Kong’s Securities and Futures Commission (SFC), a spokesperson for HKVAEX has said.Amid multiple reports erroneously suggesting that HKVAEX has applied for an SFC license, the HK ...

The brokerage firm Interactive Brokers Hong Kong has been licensed in Hong Kong for virtual asset trading by retail clients, according to a post on LinkedIn by the Managing Director for Asia Pacific at Interactive Brokers, David Friedland.The post said the trading of virtual assets is curr ...

Hong Kong’s Hospital Authority (HKKA) is planning to tackle a notable rise of two superbugs, vancomycin-resistant enterococci and Candida auris, with the help of artificial intelligence (AI). According to a South China Morning Post report from Nov. 24, citing the HKKA, the increase in ...

BC Technology Group, the operator of Hong Kong’s publicly-listed cryptocurrency exchange OSL, has announced a significant investment from industry firm BGX.BC Technology entered into a partnership with BGX, which agreed to subscribe for shares in BC Technology for an investment of about 71 ...

Cryptocurrency trading platform Bitget has dropped plans to obtain a Virtual Asset Trading Platform (VATP) license in Hong Kong, citing business and market-related considerations.Bitget officially announced on Nov. 13 that its Hong Kong division, BitgetX, accessible by the domain BitgetX.h ...

Hong Kong is “very ready” for the next wave of mass crypto adoption, with an influx of crypto talent that has been spilling into the aspiring digital asset hub, says Jupiter Zheng, a partner at Hashkey Capital. Speaking to Cointelegraph, Zheng, partner of liquid funds and ...

The saga of the imploded cryptocurrency exchange JPEX continues to develop as Taiwanese prosecutors have reportedly found new alleged suspects.The Taipei District Prosecutors Office (TDPO) requested Chang Tung-ying, the chief partner at JPEX’s office in Taiwan, be held in custody over alle ...

Ultraviolet (UV) lights were the likely culptit behind the reported vision loss, eye pain and skin issues for at least 15 attendees of Yuga Labs’ ApeFest event in Hong Kong last week, the nonfungible token (NFT) conglomerate has confirmed.On Nov. 5, attendees began reporting eye and ...

Linekong Interactive, a gaming and film production company headquartered in Beijing and listed on The Stock Exchange of Hong Kong (HKEX), is allocating $15 million to invest in projects building on the Bitcoin network.Wang Fang, the founder of Linekong, said in a Nov. 8 tweet tha ...

Switzerland-based crypto bank SEBA AG has become the latest crypto-centered firm to obtain a license from the Hong Kong Securities and Futures Commission (SFC).SEBA’s Hong Kong subsidiary, SEBA Hong Kong, received the regulatory nod to offer a range of crypto-related services in the region ...

The cryptocurrency community is excited about the Hong Kong government reportedly weighing the launch of a spot cryptocurrency exchange-traded fund (ETF) amid the ongoing regulatory pushback against such products in the United States.Hong Kong’s potential entrance into spot crypto ET ...

The Securities and Futures Commission (SFC) of Hong Kong laid down the business requirements for offering tokenized securities and other investment products in a circular released Nov. 2.The market demand in Hong Kong for tokenized investment products combined with the various benefits of ...

Attendees of a Yuga Labs’ ApeFest event on Nov. 4 in Hong Kong have reported burns, damaged vision and “extreme pain” in their eyes, which they attribute to the use of improper lighting.“Woke up in the middle of the night after ApeFest with so much pain in my e ...

Individual creators and brands will ultimately determine the future of the metaverse, as opposed to any centralized entity, according to the co-founders of The Sandbox.On Nov. 3, the team behind the Ethereum-based metaverse launched The Sandbox Map, allowing “LAND” owners to pu ...

Hong Kong’s securities regulatory authority has issued two circulars to regulate digital asset tokenization in its pursuit of becoming a prominent Web3 hub in Asia.The Securities and Futures Commission (SFC), in these circulars, offered instructions to intermediaries participating in token ...

The Hong Kong government says the recent $165 million alleged scandal involving crypto exchange JPEX won’t  stifle its Web3 vision for the region. In a Nov. 2 keynote at Hong Kong Fintech Week, the region’s Secretary for Financial Services and the Treasury Christopher Hui said the sag ...

Payment processor Visa has completed the Hong Kong Monetary Authority's central bank digital currency (CBDC) Pilot Programme with HSBC and Hang Seng Bank.According to the November 1 announcement, the e-HKD Programme involves tokenization of deposits, where the money deposited with a bank i ...

Banking giant Hong Kong and Shanghai Banking Corporation (HSBC) have tested the use of tokenized deposits – from issuance to transfer to redemption – with major Chinese banker Ant Group, founded by Jack Ma, in a sandbox arranged by the Hong Kong Monetary Authority.The initiativ ...

The Bank for International Settlements (BIS) released a colorful and fact-filled Project mBridge update on Oct. 31. The publication combines technical and promotional discussions in a shift of tone as the project prepares to become a minimum viable project for commercial launch next year.T ...

The Hong Kong Monetary Authority (HKMA) is gearing up for the second phase of the e-HKD (e-Hong Kong dollar) pilot program as it announced the successful completion of the Phase 1 trial of its in-house central bank digital currency (CBDC). The HKMA launched the e-HKD pilot program in ...

Zodia, the institutional cryptocurrency custody platform co-owned by British banking giant Standard Chartered, Japanese SBI Holdings and the financial firm Northern Trust, is expanding its services to Hong Kong.Zodia Custody is launching services in Hong Kong in response to growing demand ...

The Securities and Futures Commission (SFC) of Hong Kong announced it will update its policies on virtual currency sales and requirements “in light of the latest market developments and enquiries from the industry”.In an Oct. 20 notice, the SFC said under the updated guidelines, certain vi ...

Public attitude towards cryptocurrency in Hong Kong has taken a dive following the JPEX crypto exchange scandal, according to the initial findings of a new survey.The survey, conducted by The Hong Kong University of Science and Technology’s business school, was to understand how publ ...

Hong Kong has not yet adopted regulations for stablecoins like Tether (USDT) or USD Coin (USDC), according to the Secretary for Financial Services and the Treasury, Christian Hui. Retail investors in Hong Kong are currently not allowed to trade these assets due to the absence of specific regulations ...

Recent developments in the crypto space in Hong Kong could potentially boost cryptocurrency activity in East Asia, which has been impacted by China's ban on trading activities since 2019. According to a report by Chainalysis, cryptocurrency value received in East Asia accounted for just 8.8% of the ...

Recent developments in Hong Kong are poised to breathe new life into the cryptocurrency scene in East Asia. This region has faced significant challenges, primarily due to China's comprehensive ban on cryptocurrency trading activities that have been in place since 2019. However, the tide may be turni ...

Hong Kong is progressing towards the development of stablecoin regulations, with the final guidelines expected to be unveiled by 2024, as per disclosures by legislator Duncan Chiu. Over the past two years, Hong Kong has been diligently crafting regulations for stablecoins, with the Hong Kong Monetar ...

The JPEX cryptocurrency exchange scandal in Hong Kong has prompted regulatory authorities to take action to enhance transparency and oversight in the cryptocurrency industry. The Securities and Futures Commission (SFC) has announced plans to publicly disclose various lists related to virtual asset t ...

Hong Kong authorities are taking steps to tighten regulations on the cryptocurrency market following the arrest of six individuals connected to an alleged fraud involving an unlicensed crypto exchange named JPEX. The Chief Executive of Hong Kong, John Lee Ka-chiu, announced on September 19th that ...

Struggling Cryptocurrency Exchange JPEX Considers Transition to DAO Following Regulatory Probe Reports have emerged that JPEX, a cryptocurrency exchange based in Hong Kong, has ceased its trading operations and faced the arrest of an individual associated with the platform due to allegations of o ...

Ant Group, the owner of the world's largest mobile payment platform Alipay, revealed its new sub-brand under the name ZAN. The brand will focus on blockchain development and services for both institutional and individual Web3 developers. The official press release, published on Sept. ...

Web3 startups often face challenges unique to the nascent ecosystem — complex regulatory landscapes and scaling with decentralization are just two of many. Venture capital flowing into Web3 startups experienced a big drop over the last year, and new projects need more help than ever to carry thei ...

Users of Hashkey Exchange Hong Kong will soon be able to receive insurance protection on digital assets custodied on the platform.According to local news reports on Sept. 6, Hashkey has signed a memorandum of understanding with fintech firm OneDegree for insurance coverage on exchange wall ...

OKX cryptocurrency exchange has entered the final stage before acquiring a virtual asset service provider license (VASP) in Hong Kong. The crypto exchange expects the final approval for a VASP license by March 2024.In an interview, Li Zhikai, the global chief commercial officer of OKX,&nbs ...

Hong Kong retail cryptocurrency traders now have access to a locally based cryptocurrency exchange after HashKey took its retail trading services live to users in China’s special administrative region on Aug. 28.The company was previously permitted to serve professional and insti ...

The Hong Kong arm of crypto-friendly Swiss bank SEBA Bank has received in-principle approval from the Hong Kong Securities and Futures Commission (SFC) allowing it to deal in virtual assets.On Aug. 30, SEBA Hong Kong said its in-principle approved license would allow it to operate with cry ...

Hong Kong’s Securities and Futures Commission (SFC) has issued an in-principle approval to Hong Kong Virtual Asset Exchange (HKVAX) to operate a virtual asset trading platform under the region’s securities laws. On Aug. 11, HKVAX announced that it had received an “approval-in-principl ...

McDonald’s Hong Kong has picked The Sandbox to build its first Web3 experience, McNuggets Land, a virtual world dedicated to celebrating Chicken McNuggets’ 40th anniversary. The experience takes users to a virtual store with a hidden factory and a tour through the history of the chick ...

Nearly $250 billion worth of transactions have taken place using China’s digital yuan in the one-and-a-half years since the start of its pilot, the country’s central bank governor has claimed.On July 19, People’s Bank of China governor Yi Gang spoke at a conference in Sin ...

Crypto firms may appear to have been prepping entry to Hong Kong with unabated excitement, but it’s yet to translate into in-country hires, according to recruitment executives. On June 1, around 150 companies lined up for a local crypto license which permits the operation of a local crypto ...

According to a July 4 announcement, BitgetX, the Hong Kong subsidiary of cryptocurrency exchange Bitget, has joined the Hong Kong Virtual Asset Consortium (HKVAC), which provides ratings services and indices to cryptocurrencies. Launched on May 31 with Huobi as its inaugural member, t ...

Crypto and blockchain advocates have authored a report calling for the Hong Kong government to issue a stablecoin pegged to the region’s dollar, which could challenge the dominance of Tether and USD Coin.According to an English translation of a July 3 report provided by Chinese crypt ...

As part of Hong Kong's ongoing commitment to embrace the "megatrend" of Web3 development, it has established a diverse group of industry and government officials to supervise the progress of Web3 in the region.According to a June 30 statement, the government of Hong Kong has formed a task ...

According to a June 27 report by local news outlet Foresight News, Web3 firms in Hong Kong are spending anywhere between 20 million and 200 million Hong Kong dollars ($2.55 million and $25.5 million) for the acquisition of a Virtual Asset Service Provider (VASP) licenses. Sources explained: ...

The CEO of Hong Kong's Securities and Futures Commission (SFC), Julia Leung Fung-yee, addressed Hong Kong's embrace of Web3 regulation following the collapse of crypto exchange FTX last November, noting that crypto trading is an important part of the virtual asset ecosystem.During a recent ...

Once again, the United States Securities and Exchange Commission (SEC) became the week’s headliner. Its intention to freeze the entirety of Binance.US’s assets got a reality check from U.S. district court Judge Amy Berman Jackson, who advised the regulator and the crypto exchange to negotiate a d ...

The Hong Kong Monetary Authority (HKMA), which serves as the region's central bank and regulator, has reportedly put pressure on major banks including HSBC and Standard Chartered to accept crypto exchanges as clients.According to a June 15 report from the Financial Times, which cited three ...

Touting its progressive stance on cryptocurrencies, a Hong Kong legislator has invited Coinbase and other crypto exchanges to establish operations in the region.Legislative Council member Johnny Ng took to Twitter to express support and assistance to “all global virtual asset tr ...

Hong Kong — officially the Hong Kong Special Administrative Region of the People’s Republic of China — is a city of over seven million residents on the eastern Pearl River Delta in South China. The city is known for being pro-innovation and technology, and over the past year, it ...

British multinational bank Standard Chartered and PwC China have teamed up to produce a white paper on applications for central bank digital currency (CBDC) in the so-called Greater Bay Area of China — Guangdong Province, Hong Kong and Macao. Programmability will make all the difference, they con ...

First Digital Group, a Hong Kong-based qualified custodian and trust company, announced the launch of its First Digital USD (FDUSD) United States dollar-pegged stablecoin on June 1. The new stablecoin is programmable and described as being capable of executing contracts, escrow services and insur ...

In this week’s newsletter, read about some of the most popular nonfungible token (NFT) collections and top metaverse properties taking massive price hits in 2023. Check out how the Hong Kong Police Force launched its own metaverse platform, and how Reddit’s digital collectibles have managed to onboa ...

The CEO of major U.S. cryptocurrency exchange Coinbase Brian Armstrong believes that the negative stance of U.S. regulators on cryptocurrencies only plays into the hands of China and other countries. In an article for MarketWatch magazine, Brian Armstrong noted that the cry ...

Brian Armstrong thinks the United States is in danger of missing its chance With that, the dollar will lose its status as a world currency He calls for developing the cryptocurrency segment, not limiting it On Tuesday, May 30, WarketWatch published an ...

Huobi HK said on Twitter that the company filed an application with the Hong Kong Securities and Futures Commission (SFC) on May 29 for a regulated license to exchange crypto assets. Under current law, before cryptocurrency companies can provide regulated services to cust ...

The value of Floki Coin rose 10% after an advertisement for the token appeared on the Chinese state TV channel CCTV-5 during the broadcast of the World Table Tennis Championship. The project team said the cryptocurrency received a large i ...

As reported in local publications, the Beijing Municipal Science and Technology Commission has published its own Web3 White Paper on Innovation and Development. Beijing aims to become an international innovation center for the digital economy. The document describes Web3 ...

The city wants to become a global innovation center for the digital economy The city will spend $14 million a year to achieve this goal; May 27, the city of Beijing released a whitepaper that aims to promote innovation and the development of the Web3 industry. ...

Changpeng Zhao, CEO of cryptocurrency exchange Binance, said that after China Central Television CCTV broadcast a story about cryptocurrency, "all of China is literally buzzing." "CCTV just aired a story on cryptocurrency.. It's meaningful.. Chinese-speaki ...

According to Bloomberg, the Hong Kong Securities and Futures Commission (SFC) is going to officially allow retail investors to trade in cryptocurrencies from June 2023. The relevant provisions are captured in a new set of rules. Thanks to the development of the cryptoc ...

SFC announced preparations at the beginning of the year This decision precedes the introduction of a licensing regime for exchanges on June 1 The conference will begin at 3:15 pm (Kiev time) The Hong Kong Securities and Futures Commission (SFC) will h ...

They plan to open a representative office in the region And hire a staff of 100 people Krypto-exchange OKX has applied in France to become a digital asset service provider (DASP). The documents will be reviewed by the Autorité des Marchés Financiers and the Au ...

Cryptocurrency investment company Hashkey Group plans to raise up to $200 million by taking advantage of Hong Kong digital assets. It writes Bloomberg. The HashKey Group itself is now valued at more than $1 billion. The company is ...

The Hong Kong Monetary Authority (HKMA) announced Thursday the launch of the e-HKD pilot program and testing options for the state's digital currency. A number of major companies from the financial, payment and technology industries will ...

OSL Asset Management announced that it has received a license from the Hong Kong Securities and Futures Commission (SFC) to provide services to corporate clients. OSL Asset Management believes that in today's environment, the combination of blockchain technology, artificial ...

Hong Kong Monetary Authority (HKMA) warned: cryptocurrency companies will not get any indulgence from regulators, despite the region's desire to become a center of digital currency development. HKMA Chairman Eddie Yue said at the Bloomberg Wealth Asia Summit that Hong Kon ...

The head of the Hong Kong Monetary Authority He urged service providers "not to count on" the lack of oversight The SFC will also soon publish a consultation document The licensing regime for exchanges here will take effect from June 1 Hong ...

CEO of Binance held another AMA session at Spaces He touched on several important topics, which you will find a summary of in this article Binance CEO Changpeng Zhao held another AMA session yesterday, May 1. Among other things, the CEO of the exchange spoke a ...

These are based on suggestions from market participants The authorities have received 150 appeals on the issue The Hong Kong Legislative Council will restart the crypto-trading market starting June 1. They have adopted a new licensing system (VASP) for virtual as ...

The Hong Kong Securities and Futures Commission (SFC) said it is preparing rules for licensing cryptocurrency exchanges and will present them next month.</div Bloomberg cited SFC CEO Julia Leung as saying that the new guidelines and regulations will support cryptocurrenc ...

A 55-year-old woman from Hong Kong has fallen victim to a cryptocurrency scam that resulted in the loss of her entire life savings - a staggering amount of almost HK$7 million. The fraudulent project, which promised tens of thousands of US dollars in profits, was allegedly presented to the victim ...

ZA Bank, the largest digital bank in Hong Kong, has revealed its intention to introduce support for cryptocurrencies. According to reports, ZA Bank CEO Ronald Yu has stated that the bank will serve as a settlement bank for cryptocurrency exchanges, allowing users to make fiat deposits and withdra ...

Gate Group, the operator of the Gate.io cryptocurrency exchange, is making moves to expand its operations in China's Hong Kong region by applying for various licenses from the Hong Kong Securities and Futures Commission (SFC). The exchange plans to become a member of the local market before new r ...

Raoul Pal, the former top executive at Goldman Sachs and current CEO of Real Vision, has predicted that American cryptocurrency companies may have to relocate their headquarters to other parts of the world due to regulatory issues. In an interview with the Rug Radio podcast, Pal drew parallels to ...

According to Ambre Soubiran, the CEO of cryptocurrency asset data provider Kaiko, the landscape of the crypto trading and investment market is set to change. Soubiran believes that Hong Kong may soon emerge as a central player in this field, as local players in the US crypto market are forced to ...

According to Christian Hui, the Minister of Financial Services in Hong Kong, the city's crypto-friendly policies are drawing the attention of numerous crypto companies, with over 80 expressing interest in establishing offices. This surge in interest is attributed to the official announcement of s ...

Hong Kong Monetary Authority (HKMA) has made history by issuing HK$800M ($101.9M) worth of tokenized green bonds, making it the first-ever "green debt" issued by a government. The move is in line with Hong Kong authorities' efforts to attract institutional investors by introducing eco-friendly bonds ...