Hong Kong will have ‘tight’ crypto regulation, says HKMA chief Eddie Yue
Cryptocurrency firms moving to Hong Kong should expect tight regulations as part of the city-state’s new regulatory regime, said Eddie Yue.
Cryptocurrency firms moving to Hong Kong should expect tight regulations as part of the city-state’s new regulatory regime, said Eddie Yue.
Hong Kong-based OSL Asset Management Ltd said it won a local license to offer investment products in blockchain, Web3 and AI companies.
It’s currently fashionable to publicly knock blockchain gaming, but behind closed doors, a growing number of developers are realizing its potential, writes Tim Dierckxsens of Venly.
Bitcoin edged higher on Wednesday morning in Asia to hold above the US$27,500 mark. Ether also gained. Other top 10 non-stablecoin tokens traded mixed.
Bitcoin dropped 1.25% and Ether fell 0.25% in Tuesday afternoon trade in Asia. All other top 10 non-stablecoin cryptocurrencies also dropped.
Skyrocketing activity has led to a surge in average Bitcoin transaction fees — which rose to US$31.15 as of March 8 — exerting increasing pressure on users in low- and middle- income economies including Bitcoin-reliant communities in El Salvador, the first country to implement mass adoption of the digital currency.
Bitcoin fell below US$28,000 on Tuesday morning in Asia as memecoin hype clogged the network and drove up transaction fees. Ether and all other top 10 non-stablecoin tokens dropped.
Bitcoin, Ether fell in Monday afternoon trade in Asia, along with all other top 10 non-stablecoin cryptocurrencies by market capitalization. Polkadot and XRP led the losers in that list.
Bitcoin fell in Monday morning trading in Asia after failing to breach the US$30,000 ceiling over the weekend. Ether dropped below the US$1,900 mark.
Bitcoin inched above US$29,000 on Friday, as concerns over the health of the banking system have been reignited. Industry experts tell Forkast that banking troubles could fuel Bitcoin values, which face significant resistance above US$29,500.