Hong Kong

The Hong Kong Securities and Futures Commission (SFC) is drafting regulatory requirements for the local licensed crypto exchanges, in light of the FTX debacle, according to a report on Monday by Hong Kong public broadcaster RTHK

Hong Kong passed the amendment to the bill that includes a licensing regime VASP on Wednesday, which will come into effect on June 1, 2023.

Three Hong Kong-based asset management firms have applied for exchange-traded funds (ETFs) tracking Bitcoin and Ethereum futures for retail investors.

Innovation and regulation are mutually exclusive in the world of crypto – and in the aftermath of the FTX collapse, getting the balance right is key.

Despite the myriad benefits of blockchain and cryptocurrency, institutional interest remains mixed in Asia Pacific. What lessons should the industry learn from 2022 to overcome the barriers to adoption?

Swiss crypto bank SEBA Bank announced on Wednesday the opening of its Hong Kong office to serve global institutional clients as part of its Asia-Pacific expansion. See related article: Hong Kong said it remains upbeat on digital assets after FTX debacle  Fast facts See related article: Hong Kong needs engineering talent to reclaim role as […]

Regulators should seek more disclosure from stablecoin issuers, as stablecoins could transmit risk from markets to traditional finance, according to researchers at the Hong Kong Monetary Authority

Hong Kong residents spend the most time online – almost half of their lives – mainly watching videos on YouTube followed by scrolling through social media channels, according to a new survey by virtual private network provider NordVPN. 

Bitkub, one of the largest crypto exchanges in Thailand, is aiming to list in Hong Kong as early as 2024 when it goes public.

Genesis Block, a cryptocurrency over-the-counter trading service in Hong Kong, will close its trading portal on Dec. 10, Reuters reported on Friday citing an email the company sent to customers.

Yes, there is rivalry between the two global finance hubs. But their strengths are also complementary for Asia to become an even bigger crypto powerhouse, writes Lily Z. King.

Top blockchain and crypto news: FTX fallout spooks sector. Crypto.com’s $400 million ‘accident.’ Hong Kong’s new digital asset drive.

Hong Kong remains bullish on virtual assets in the financial sector after the FTX debacle, while maintaining the view that regulation of businesses is a prerequisite for market development.

Hong Kong-based crypto exchange AAX is suspending withdrawals for seven to 10 days for a scheduled system upgrade to protect users.

Top blockchain and crypto news: FTX concedes defeat in long battle with Binance. Crypto eyes Congress races. Hong Kong U-turns on digital assets.

Hong Kong’s latest FinTech policies indicate it wants to reclaim its position as a hub for cryptocurrencies and digital assets, but that means finding the right people for the job.

People have been waiting seemingly forever for the arrival of Web3. So why hasn’t it changed our lives yet?

HashKey Capital Singapore, an investment arm of Hong Kong-based HashKey Group, said on Friday that it received an in-principle approval for the Capital Markets Services license from the Monetary Authority of Singapore (MAS).

Hong Kong and Singapore are now locked in a battle over the future of crypto in Asia – but who will emerge victorious?

As governments look towards zero carbon emission goals, new means of creating climate-related financial products are being tested on the blockchain.

Bank of Thailand’s Vachira Arromdee said on Tuesday the four central banks in the mBridge CBDC trials agreed to end use of foreign CBDCs domestically.

The billionaire founder of crypto exchange FTX, Sam Bankman-Fried, criticized regulations in Hong Kong and elsewhere that limit access to crypto investment to wealthy investors.

Hong Kong will increase funding for startups, including fintech companies, Secretary for Commerce and Economic Development Algernon Yau said on Tuesday.

Hong Kong reconsidering crypto’s retail investor ban.

Hong Kong reveals digital asset policies to distinguish itself from China, where cryptocurrency trading was banned in September last year.

The city is seeking to allow digital asset-based exchange-traded funds (ETFs) to be publicly listed and traded in the city.

The founder of crypto exchange FTX, which moved out of Hong Kong in 2021, said that the city could emerge as a Web3, blockchain and cryptocurrency hub.

When China banned cryptocurrency trading and mining in September 2021, it was feared that policy would make its way into Hong Kong. Seems that concern is getting a rethink.

Hong Kong is mulling plans to legalize retail crypto trading to regain its status as a global digital asset hub.

Pixelated pictures and cartoonish drawings have typically dominated the world of Non-Fungible Tokens (NFTs), but some exhibits at Hong Kong’s Xperience art fair show new means of applying the technology.

Hong Kong-based crypto investment firm Q9 Capital has received a provisional virtual asset approval from Dubai’s Virtual Asset Regulatory Authority (VARA), the company said on Wednesday in a statement shared with Forkast.

Top blockchain and crypto news: Aptos launch falls short. Why FTX chief is calling for crypto regulations. Is Hong Kong paving way for a retail CBDC?

Genesis 2.0 aims to explore tokenized carbon credits and IoT facilities to monitor green bond issuers’ emission-reducing commitment.

Crypto crimes are costing Hong Kong billions every year – but what’s being done about it and what can the rest of the world learn from it?

The BIS Innovation Hub Hong Kong Centre has completed its CBDC study, Project Aurum, which examined the feasibility of intermediated CBDCs and CBDC-backed stablecoins.

Could Hong Kong make a comeback as a global center for crypto?

In a Q&A with Forkast, First Digital Trust Chief Executive Officer Vincent Chok shared his views on Hong Kong getting back into crypto, regulations, and how the crypto pie in Asia is big enough for rivals Singapore and Hong Kong.

Hong Kong seems set to put out a new welcome mat for the blockchain and crypto industries, but will it work after concern about regulatory restrictions convinced many cryptocurrency operators to leave?

Non-fungible tokens (NFTs) can be used to preserve and spread fine art and cultural heritage, tapping into new generations of audiences and patrons, said stakeholders.

Crypto exchange Huobi Global announced the formation of a five-member global advisory board after Hong Kong-based asset management firm About Capital Management purchased a majority stake of the exchange. See related article: Huobi looks to sell stake that values exchange at US$3 bln, Bloomberg reports  Fast facts See related article: Huobi is third global exchange […]

A woman in Melbourne, Australia pleaded guilty on Wednesday to her role in stealing millions of dollars from superannuation (retirement) funds and stock portfolios before laundering the proceeds via Hong Kong through the purchase of cryptocurrency and diamonds, as reported by The Age newspaper. See related article: Australian superannuation and institutions await clarity to invest […]

The director of Hong Kong’s de facto central bank, the Hong Kong Monetary Authority (HKMA), Eddie Yue Wai-Man, said the HKMA will launch a series of trials of its central bank digital currency (CBDC) in testing, the e-HKD, in the fourth quarter this year with banks and technology firms. See related article: Hong Kong needs […]

The Hong Kong Monetary Authority (HKMA), the city’s de-facto central bank, Tuesday said it concluded its market consultations on technical and policy grounds towards the city’s central bank digital currency (CBDC), estimating at least two to three years to build the wholesale system.  See related article: Hong Kong flirts with e-HKD as it talks of […]

Hong Kong has invited firms interested in security token offerings (STO) to share their proposals with the Securities and Futures Commission (SFC), the regulator’s Fintech department head Elizabeth Wong told digital assets industry representatives last week, according to a press release published on Monday.  See related article: Hong Kong regulator: ramp up oversight of virtual […]

The Crypto Fraud and Asset Recovery Network (CFAAR), which calls itself the first global network of its kind, has launched a Hong Kong-based chapter in collaboration with seven local finance, law, and crypto regulation experts.  See related article: Australia establishes federal crypto police unit Fast facts The Crypto Fraud and Asset Recovery network began in […]

Top blockchain and crypto news: USDC gets the boot from Binance. MicroStrategy looks for Lightning strikes. STEPN heads to Hong Kong.

Hong Kong is hosting the Digital Asset Series (DAS) educational seminars, which started in August to continue into November this year. See related article: Why children around the world need crypto education Fast facts The free educational seminars will be delivered by industry experts, legal professionals, regulators and scholars from the finance-technology (fintech) sector, according […]

Singapore state-backed fund is leading a US$100 million funding round into Hong Kong-based blockchain and game venture Animoca Brands, Bloomberg reported.  See related article: Singapore’s Temasek says doesn’t own Bitcoin, but prepping for tokenized assets Fast facts Temasek will make the investment through convertible bonds, according to unnamed sources cited by Bloomberg. Temasek has been […]

Financial instruments sold and traded on a public blockchain could be the next big thing, so Forkast caught up with OSL to hear about what’s planned.

Leon Li, the founder of China cryptocurrency exchange Huobi, is seeking to sell a 60% stake in the company that would value the business at US$3 billion, according to a Bloomberg News report that cited people familiar with the matter. See related article: Sam Bankman-Fried’s Voyager debt emerges; Celsius reshuffles board Fast facts See related […]

Hong Kong’s de-facto central bank, the Hong Kong Monetary Authority (HKMA), has added a central bank digital currency (CBDC) section to an annual business competition in the city in order to encourage research into the use cases of digital currencies. See related article: Hong Kong to launch US$637 mln tech fund for startups: report Fast […]

Hong Kong will launch a HK$5 billion (US$637 million) fund to support startups seeking to reach unicorn status, the city’s Financial Secretary Paul Chan Mo-po said. See related article: Hong Kong’s Cyberport invests in digital asset custodian Hex Trust Fast facts See related article: Animoca Brands ups valuation to US$5.9B despite slumping markets

Hong Kong-based digital asset trading platform OSL has started selling security tokens to institutional investors via a private placement, with the first purchasers including blockchain game company Animoca Brands, according to a press release on Tuesday. See related article: Chinese logistics network plans US fundraise via tokenized offerings Fast facts Each security token represents a […]

Binance founder and CEO Changpeng Zhao is suing the Hong Kong publisher of Bloomberg Businessweek for defamation for an article published last month. See related article: Binance fined by Dutch central bank for improper registration Fast facts Zhao Monday filed a lawsuit in Hong Kong against Modern Media Co. Ltd., which publishes the Chinese edition […]

Tencent’s insurance business WeSure chief executive officer Alan Lau has officially joined Hong Kong-based blockchain and game venture Animoca Brands as chief business officer, Lau’s LinkedIn page showed on Tuesday. See related article: Tencent launches XR unit to develop ‘benchmark’ VR products Fast facts Lau will be responsible for managing all of Animoca Brands’ portfolio […]

Huobi Technology has applied to become a regulated virtual asset trading platform with Hong Kong’s securities watchdog, as the city moves on to clarify and tighten rules on cryptocurrency-related businesses.  See related article: Hong Kong to propose bill to license crypto exchanges Fast facts Huobi said on Thursday the Securities and Futures Commission (SFC) has […]

The U.K. Treasury on Friday named Hong Kong Securities and Futures Commission (SFC) CEO Ashley Alder as chairman of the U.K. Financial Conduct Authority (FCA). He is expected to start in January next year. See related article: UK finance watchdog to spend £11M to warn young people off crypto investment Fast facts See related article: […]

Hong Kong-based cryptocurrency exchange OSL is reportedly laying off 40 to 60 employees, or about 15% of its workforce, to join a growing list of digital asset companies in scaling down operations amid tanking cryptocurrency prices. See related article: Coinbase, biggest US crypto exchange, cuts workforce by 18% Fast facts The job cuts are not […]

Crypto exchange ByBit lays off 30% of its staff. And as the NFT market grows, how do we combat against scams?

BlockFi’s Zac Prince says they have fully liquidated 3AC positions. Meanwhile, Hong Kong’s central bank works with the Bank of Israel to study CBDC security.

The Hong Kong Monetary Authority (HKMA) announced a joint research project with the Bank of Israel (BOI) and the Bank for International Settlements Innovation Hub (BISIH) Hong Kong Centre to study cybersecurity issues in retail central bank digital currencies (CBDCs). See related article: Hong Kong now exploring retail CBDC in upcoming Project Aurum Fast facts […]

Huobi Thailand will shut its cryptocurrency trading platform’s Thailand unit on July 1 after the country’s Securities and Exchange Commission (SEC) revoked its license. See related article: Can Thailand emerge as a ‘crypto-positive’ travel destination? Fast facts Huobi Thailand said the firm will no longer have any connections or legal bindings with Huobi Group following […]

Bitcoin, Ethereum and TRX recover as the Federal Reserve raises interest rates. Meanwhile, Three Arrows Capital faces liquidation concerns.

Yahoo will host virtual concerts and exhibitions featuring celebrities and influencers for Hong Kong residents on the Decentraland metaverse, the company announced on Wednesday. See related story: Hong Kong’s subway operator plans virtual station in metaverse Fast facts Yahoo is also launching a non-fungible token (NFT) exhibition called The Abyss of Kwun Tong to recreate […]

An architecture research team at the University of Hong Kong (HKU) developed a blockchain-based system to remotely track the quality of construction of student residences, according to a press release. See related article: Blockchain-powered air quality sensor test launches in Hong Kong Fast facts The system, named E-Inspection 2.0, helps manage construction quality inspection documents, […]

In hosting one of Asia’s largest outdoor NFT art exhibitions, the city — battered by lengthy quarantines and protests — is seeking to revolutionize the way art is presented.

Non-fungible tokens (NFTs) can be regulated if they represent similar characteristics to securities, particularly in the category of “collective investment schemes,” Hong Kong’s Securities and Futures Commission (SFC) said on Monday.  See related article: Hong Kong retail investors blocked from Bitcoin spot ETFs Fast facts See related article: Hong Kong to propose bill to license […]

Lei Wai Nong, Macao’s secretary for economy and finance, said China’s expertise in developing its digital yuan could help the specially administered region introduce a central bank digital currency (CBDC), according to local media reports. See related article: China to issue free digital yuan to boost locked down economy Fast facts Lei said he will […]

The Reserve Bank of India explores digital rupee options. Meanwhile, Terra’s new Luna coin drops significantly since launch.

The Tezos blockchain showcased the evolving relationship between art, technology and culture at a three-day interactive exhibition, The Ever-Evolving World of Art, at Art Basel, Hong Kong, which ended Sunday.  See related article: How Asia’s generative NFT art is reshaping the global creative culture Fast facts The event featured NFT works from 22 international digital artists, […]

Governments around the world are racing to develop their own digital currencies, but an e-HKD may not make sense for Hong Kong’s people. John Mitchell of Episode Six explains why Hong Kong is unique.

Sony Music Entertainment has set up a new Greater China venture for its American label RCA Records to explore opportunities in streaming, non-fungible tokens (NFTs) and the metaverse. See related article: John Legend’s OurSong raises US$7.5 mln to fuel music NFTs Fast facts The new label, dubbed “RCA Records Greater China,” will make key hires […]