Hong Kong

Asia is stepping up the regulatory ground for the digital asset and take a look at El Salvador’s Bitcoin future.

Top blockchain and crypto news: U.S. lawmakers berate SEC over ETF applications. NFTs down but not dead. Hong Kong sees year’s biggest crypto heist so far.

Mixin Network announced Monday that the database of its cloud service provider was hacked, resulting in the loss of approximately US$200 million.

It’s a week for regulatory enforcement in the cryptocurrency space as blockchain takes center stage in the Philippines.

The JPEX scandal sheds light on the vulnerabilities in Hong Kong’s crypto marketplace, prompting reflection on regulatory safeguards as the city aspires to be a global digital asset hub, former SFC regulator Angelina Kwan says.

Top blockchain and crypto news: U.S. SEC steps up regulatory enforcement. Gaming giant Zynga moves into NFTs. Woes ahead for JPEX exchange after HK arrests.

Dubai-based cryptocurrency exchange JPEX is shutting trading its platform amid a probe by the Hong Kong’s Securities and Futures Commission that said the firm was operating as an unlicensed entity, according to media reports. 

Hong Kong-based cryptocurrency exchange CoinEx Global suffered a security breach on Tuesday, resulting in an estimated loss of US$43 million in cryptocurrencies.

The Hong Kong branch of SEBA Bank has received an in-principle approval from regulators to provide virtual asset trading services in the jurisdiction.

Sam Bankman-Fried pleads not guilty to misusing customer funds. North Korean hackers could cash out US$40 million worth of stolen Bitcoins

Top blockchain and crypto news: Singapore steps up stablecoin rules. DeGods decline. Hong Kong’s third crypto license.

Most countries allow only government to mint currency, but in the land of public-private partnerships, legal tender HKD notes are issued by private banks.

HashKey Exchange and OSL — the only two cryptocurrency exchanges licensed by the Hong Kong SFC — received license upgrades Thursday to service retail investors.

Across Asia, projects dedicated to asset tokenization have become a cornerstone of the new digital economy, showing the world the technology’s possibilities.

Welcome to Forkast IQ, presented by Angie Lau, where we look beyond the headlines to get you insights that power smarter decisions. Coming up on today’s show:

Mainland tourists can now shop in Hong Kong with Chinese CBDC, as part of a digital yuan shopping festival launched this week by the Bank of China (Hong Kong).

McDonald’s Hong Kong has joined the likes of Adidas, Coca-Cola, Gucci and other global brands with Thursday’s launch of its own metaverse.

Top blockchain and crypto news: Ripple not clear of hurdles | NFTs in historically slow period | Hong Kong banks dither

Bitcoin and Ether rose during Wednesday afternoon trading in Hong Kong, along with all other top 10 non-stablecoin cryptocurrencies by market capitalization.

XRP continued its rally after XRP issuer Ripple’s favorable ruling last week in its lawsuit with the U.S. Securities and Exchange Commission (SEC).

As the US is engulfed in regulatory strife, Asian countries are rolling out legal frameworks that attract crypto investment, protect consumers and encourage innovation.

Welcome to Forkast IQ, presented by Angie Lau, where we look beyond the headlines to get you insights that power smarter decisions. Coming up on today’s show:

Hong Kong, Japan, Singapore and Thailand have regulations supporting the growth of tokenization, showing the world the benefits of fractionalizing assets.

Hong Kong’s local government on Friday set up the Task Force on Promoting Web3 Development to promote the benefits of blockchain to real-world industries.

Welcome to Forkast IQ, presented by Angie Lau, where we look beyond the headlines to get you insights that power smarter decisions. Coming up on today’s show:

The relationship between Hong Kong and crypto will likely only grow stronger over time, as it’s based on mutual respect as well as need, writes Lily King.

As the US grapples with crypto regulation, Hong Kong and Dubai are emerging as leaders in the global digital economy, writes Ben Caselin of MaskEX.

Paul Chan, Hong Kong’s financial secretary, said more than 150 Web3 companies had registered at the Cyberport business park.

Amid growing regulatory scrutiny in the U.S., crypto firms eye Hong kong for its strategic location and friendly regulations, yet Singapore and Dubai remain strong competitors, says FinTech Association of Hong Kong’s Neil Tan.

In this week’s Forkast IQ with Megha Chaddah, we dive into the U.S. SEC’s crypto crackdown and the state of the East Asian metaverses.

Top blockchain and crypto news: Binance.US at risk. Ex-SEC official’s comments complicate Ripple suit. Hong Kong lawmaker aims to entice exchanges.

HKMA is urging lenders including HSBC, Standard Chartered and Bank of China to service crypto exchanges. Financial Times reported on Thursday.

The SEC’s one-two punch of Coinbase and Binance couldn’t have come at a better time for Hong Kong and Singapore, as US crypto firms look to shift to friendlier shores, writes Hamilton Keats of Krayon Digital.

Local legislator suggests global cryptocurrency exchanges such as U.S.-based Coinbase set up operations in Hong Kong as the city’s new licensing regime for crypto retail trading took effect on June 1.

From US crackdowns on Binance and Coinbase to new business-friendlier frameworks in Hong Kong and Europe, seismic shifts in crypto regulations are under way.

Top blockchain and crypto news: Binance, Coinbase in SEC firing line. Solana NFTs slump as Bitcoin’s surge. New dawn in Hong Kong crypto regulations.

OSL is one of only two digital assets trading platforms in Hong Kong licensed to offer services to professional investors.

Welcome to Forkast IQ, presented by Forkast Editor-in-Chief Angie Lau, where we look beyond the headlines to get you insights that power smarter decisions.

Virtual assets will receive the same regulatory clarity in Hong Kong as their real-world counterparts, says former Hong Kong SFC regulator Angelina Kwan.

The Central Bank of the United Arab Emirates and the Hong Kong Monetary Authority have agreed to strengthen cooperation in regulating virtual assets.

Leaders in Hong Kong’s Web3 industry announced the formation of two new associations, Hong Kong Licensed Virtual Assets Association (HKLVAA) and Web3 Harbour, on Monday.

Bitcoin couldn’t maintain its Monday morning gains as the world’s largest cryptocurrency dropped below US$28,000 in the afternoon.

The launch of Hong Kong’s very own CBDC comes with new regulations for crypto trading platforms operating in the city.

Top blockchain and crypto news: Asia’s crypto hub race. Is US debt ceiling fight a boon or a bane for crypto? China’s red carpet for metaverse investment.

Hong Kong is the most crypto-ready jurisdiction in the world, based on the number of blockchain startups per 100,000 people and the number of crypto ATMs proportional to the population, according to a new study by forex education platform Forex Suggest. 

Analysts say the move could signal a bull run in cryptocurrencies.

While U.S. regulators continue debating over whether cryptocurrencies are securities or commodities, the digital assets industry is being pleasantly welcomed by several Asian cities. And the competition is really hotting up now.

Hong Kong will allow licensed cryptocurrency trading platforms to offer services to retail investors and will implement a slew of measures to protect individual traders, the Securities and Futures Commission (SFC) said on Tuesday.

As U.S. regulators file lawsuits against cryptocurrency platforms, prompting some digital asset companies to seek more favorable jurisdictions, a fleet of cities in Asia are putting out the welcome mat, seeking to attract the jobs and investment that Web3 technologies promise. Right now, Hong Kong seems to be grabbing the limelight, but it has competition.

Ripple Labs has launched a new payment platform for a central bank digital currency in Hong Kong.

Rollout of the central bank digital currency in Hong Kong is a potential game-changer and a move that others may soon look to follow.

Conflux Network and China Telecom on Tuesday unveiled their first blockchain-based SIM card, which will be piloted in Hong Kong.

Bitcoin and Ether fell during Friday afternoon trading in Asia, along with most of the top 10 non-stablecoin cryptocurrencies by market capitalization, apart from the XRP token.

Top blockchain and crypto news: Memecoin fever strains BTC network. Binance slams brakes on Bitcoin withdrawals. Chinese court allows crypto for repaying debt.

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.

Welcome to Forkast IQ, presented by Forkast Editor-in-Chief Angie Lau, where we look beyond the headlines to get you insights that power smarter decisions. Coming up on today’s show: JPMorgan Chase set to rescue First Republic Bank. CITI cuts Coinbase stock Weekly crypto market wrap; “US$100K for Bitcoin” – Standard Chartered report; Weekly NFT market […]

Top blockchain and crypto news: JPMorgan swoops as another bank falls. NFT market rivalry heats up. Bitget seeks Hong Kong exchange license.

Seychelles-based cryptocurrency exchange Bitget expects more clarity on Hong Kong’s licensing regime from June as the city pushes ahead with plans to attract blockchain and cryptocurrency entrepreneurs.

Arthur Yuen, Deputy Chief Executive of the Hong Kong Monetary Authority, urged local lenders to provide banking services to regulated crypto firms.

The current US approach to regulating crypto flies against its history of supporting tech innovation and undermines its own national interest, writes Hamilton Keats of Krayon Digital.

Top blockchain and crypto news: Bittrex in SEC line of fire. Bored Apes fall after whale sale. Chinese banks court crypto clients.

Welcome to The Daily Forkast – April 20, 2023 – presented by Megha Chaddah. Bitcoin is down more than 5% Thursday morning in Asia. Ethereum also fell to lose hold of the US$2,000 price support in a sell-off across all top 10 non-stablecoin tokens. In the multi-chain economy, the Forkast Labs indexes trade mixed.

ZA Bank, the largest virtual bank in Hong Kong, has started offering cryptocurrency conversion services through licensed crypto exchanges.

Top blockchain and crypto news: Ethereum fork prompts price fall fears. Satoshi is found — in Apple software. Hong Kong ramps up Web3 plans.

Hong Kong has established the Institute of Web 3.0 to facilitate the development of the crypto ecosystem in the city, directed by a former head of HKMA.

Paul Chan said it is the right time for the city’s Web3 push ahead of Hong Kong’s busy week of blockchain and finance gatherings.

Bitget on Monday said it had launched a Web3 Fund with an initial investment of US$100 million to support development of cryptocurrency projects.

A major state-owned firm in China is launching two cryptocurrency funds in partnership with investment firm Waterdrip Capital. 

Government officials from Hong Kong and mainland China talked about cryptocurrencies at the Boao Forum in China, as both chase Web3 ambitions.

Hong Kong may issue virtual asset trading licenses to at least eight cryptocurrency-related firms by the end of this year as part of the city’s new crypto licensing regime, said Angelina Kwan, chief executive officer of financial services firm Stratford Finance and a former regulator of the Hong Kong Securities and Futures Commission.

Top blockchain and crypto news: Binance targeted in CFTC lawsuit. Law catches up with Do Kwon. Chinese banks bet on Hong Kong crypto.