Hong Kong

Crypto 1 will consider acquisition targets worldwide but steer clear of digital assets companies in China and Hong Kong. Are the lights dimming on a major crypto hub?

Crypto 1 Acquisition Corp., a U.S.-incorporated blank check company, has completed its initial public offering (IPO) with gross proceeds of US$230 million, according to a company statement released Friday. Fast facts The company’s units commenced trading on the Nasdaq Global Market under the ticker symbol “DAOOU” on Dec. 7. Acting as a special purpose acquisition […]

Gamers and developers gather at the annual Digital Entertainment Leadership Forum to discuss how video games may evolve in the future.

Blockchain gaming unicorn Animoca Brands announced yesterday a partnership with Aquis Farm — a major racehorse-breeding business owned by Hong Kong’s billionaire Fung family — to bring equestrian activities into the metaverse. The blockchain specialist will leverage Aquis Farm’s equestrian intellectual properties to develop blockchain games and non-fungible tokens (NFTs).  Fast facts “Aquis recognises the […]

Hong Kong-based venture capital (VC) firm Chiron Partners announced Wednesday the launch of a US$50 million fund to support the Terra blockchain ecosystem. Fast facts Chiron Partners will use the fund, namely the Chiron Terra Fund I (CTI), to invest in innovative projects built on the Terra ecosystem, such as decentralized finance (DeFi) applications and […]

A new survey published Wednesday by Visa shows that 18% of Hong Kong residents are active cryptocurrency investors, while 13% are passive investors, representing the second-highest engagement with crypto just after the U.S. Fast facts The survey collected 6,430 online responses from Argentina, Australia, Brazil, Germany, Hong Kong, South Africa, the U.S., and the U.K. […]

Mu Changchun, director-general of the People’s Bank of China’s digital currency institute, said today the central bank is working with the Hong Kong Monetary Authority (HKMA) to test cross-border payment features for the e-CNY, China’s much anticipated central bank digital currency (CBDC). Fast facts Mu said at a webinar, jointly organized by the PBOC and […]

Hong Kong Stock Exchange-listed Huobi Technology Holdings today announced that it will be launching Huobi Lending, a cryptocurrency lending service for institutions and high net worth individuals (HNWI) through its new digital asset brokerage platform Huobi Brokerage, according to a company announcement. Fast facts Alongside growing institutional interest in digital assets, crypto lending services leveraging […]

Hong Kong-based ViLab Limited, a metaverse developer, announced today that it has signed a memorandum of understanding (MOU) with Gulliver Studios, the effects creator behind the Netflix hit series Squid Game, to develop technology that can be used for creating virtual identities and other features for the metaverse. Fast facts ViLab and Gulliver Studios will […]

A crypto investor in Hong Kong was rescued six days after being kidnapped earlier this month when he tried to meet a buyer offline who promised to purchase his Tether tokens.

First Digital Trust, a Hong Kong-regulated trust and custodian specializing in digital assets, has become the first official custodian of IX Swap, a security token and cryptocurrency exchange, according to a company announcement today. Fast facts IX Swap is a decentralized finance (DeFi) automated market maker and liquidity pool for security tokens and tokenized stocks. […]

The city’s disaffected post-protest youth and recent statistics suggest a brain drain in the city’s future.

One of Asia’s largest fintech events returns for its sixth year with a hybrid format of live and virtual sessions. Regulators, corporations and experts share what’s important now in crypto.

In a city where memories disappear every day, people are turning to blockchain to preserve news archives — so the first drafts of history will survive.

CMCC Global, a venture capital firm based in Hong Kong, is targeting US$300 million worth of assets in its latest crypto fund, according to Bloomberg. Fast facts Since being launched in April, CMCC’s fourth digital asset fund has gathered assets close to an estimated value of US$90 million with a goal to reach the US$300 […]

As China intensifies its crypto crackdown, regulatory clarity is a beacon for safer shores in Southeast Asia.

Hong Kong, a hotbed for crypto startups and exchanges, is at a crossroads, writes Jeremy Ng of Gemini. Here’s how the industry can better secure its future.

The Hong Kong Monetary Authority (HKMA) on Monday released a white paper proposing potential technical architecture and design for the infrastructure of a digital Hong Kong dollar. The paper is one of the deliverables described in Project e-HKD, a feasibility study the HKMA announced in June 2021. Fast facts Hong Kong began its exploration of […]

Initium Media, also known as 端傳媒, is turning to blockchain technology to grow revenue and to ensure controversial news does not get forgotten — or tampered with.

Bitcoin price plunges however Metaverse actions heats up in China

Top blockchain and cryptocurrency news: El Salvador’s BTC experiment. EthereumMax and the power of celebrity. Hong Kong shores up regulatory oversight.

An official from Hong Kong’s Securities and Futures Commission said on Tuesday that the regulator wants to increase oversight of virtual assets because scams related to them have emerged in the market, according to a report by local media etnet. Fast facts Julia Leung, deputy chief executive officer at SFC, said Tuesday at a webinar […]

Hong Kong’s Securities and Futures Commission on Monday warned that digital tokens and initial coin offerings (ICOs) could be involved in unauthorized collective investment schemes (CIS) and urged investors to exercise extreme caution. Fast facts The SFC’s warning comes as the regulator added two property-related CIS investment projects and the “LABS Security Token” to its […]

Korea reveals crypto exchange ‘Death Note’: DeFi investment booms

The Bank for International Settlements (BIS) Innovation Hub Hong Kong Centre and the Hong Kong Monetary Authority (HKMA) are collaborating on Project Genesis — a green finance project for the tokenization of green bonds using blockchain technology, according to a BIS statement. Fast facts Project Genesis — the BIS Innovation Hub’s first green finance project […]

The team joins a growing number of football clubs around the world launching non-fungible tokens (NFTs) as they look to engage fans and generate new revenue streams.

Operating costs and crypto bear market suck up cash after former lottery operator bets on digital assets

Despite speculation that the NFT market is cooling, OpenSea continues to post record transaction volumes, and Hong Kong artists are getting in on the action.

Singapore and Hong Kong are at the forefront of regulations over crypto exchanges, writes Vince Turcotte of Eventus Systems. Here’s why trade surveillance and risk management will be critical.

Binance — the world’s largest cryptocurrency exchange by trading volume — today announced that it will be restricting the use of its derivatives products for customers from Hong Kong. Fast facts Hong Kong customers will, with immediate effect, not be able to open new Binance deriviative product accounts, according to a Binance announcement posted at […]

Hong Kong-based Aspen Digital, a digital asset management platform for institutional investors, announced on Wednesday that it has secured US$8.8 million in pre-A funding to develop a one-stop shop for asset managers to invest in digital assets and manage their clients’ portfolios. Fast facts The funding round was led by RIT Capital Partners, the London-based […]

Crypto-related crime has hit record levels in Hong Kong for the first six months of this year, with one victim losing HK$124 million (US$15.95 million) to fraudsters, according to the South China Morning Post. Fast facts Hong Kong police recorded 496 such cases totaling HK$214.4 million (US$27.58 million) in just the first half of this […]

Closure of blockchain business may be related to regulatory concerns, but unlikely to hit crypto industry hard, observers say.

Hong Kong newspaper the South China Morning Post is making a foray into the world of non-fungible tokens in the latest move by a Hong Kong publisher to preserve content through blockchain technology. Fast facts The SCMP today released its “ARTIFACT” lite paper, a project designed to advocate “a standardized metadata structure for recording accounts […]

Tether stablecoins linked to funds funneled to banks in Singapore and elsewhere amid worldwide cryptocurrency crime increase.

In a new report, BIS says countries must work together and design CBDCs with interoperability in mind. Hong Kong and Singapore lead mCBDC efforts.

NFTs offer haven as authors self-censor amid intensifying crackdown on free expression.

Hex Trust, a Hong Kong-based digital asset custodian, today announced that it has secured investment from Cyberport, a technology incubator project backed by the Hong Kong government.

Hong Kong’s financial secretary has reiterated the city’s determination to develop digital versions of the Hong Kong dollar and the mainland Chinese yuan.

A tech-savvy activist is using blockchain technology to preserve content from Hong Kong’s Apple Daily, which was yesterday forced by the government to shut down.

France-based PlanetWatch, which records air quality data on Algorand’s blockchain, has launched its first test sensor in Hong Kong.

The Chinese University of Hong Kong and Ethereum software company ConsenSys today announced the launch of a Covid-19 digital health passport.

GIC, Singapore’s sovereign wealth fund, is investing in BC Group—the parent company of OSL, Hong Kong’s first licensed cryptocurrency exchange.

Kikitrade today announced a US$12 million fund raise with investment from British hedge fund billionaire Alan Howard to accelerate its growth.

Hong Kong looks to explore CBDC feasibility as Australian millennials favor investing in crypto over traditional assets.

Hong Kong will be initiating a study on a digital Hong Kong dollar as part of its plans to “future proof” the city for central bank digital currencies.

From Phillips auction house in Hong Kong to Art Fair Philippines, non-fungible tokens are redefining how Asia appreciates, buys and profits from art.

As 50,000 Bitcoiners and crypto superstars whoop it up at Miami’s Bitcoin 2021 fest, a smaller group of BTC fans hold their own at the Fringe in Hong Kong.

Hong Kong-based cryptocurrency exchange Crypto.com has announced that it is committed to becoming carbon-negative within 18 months, following carbon-neutral initiatives launched by other Hong Kong-based cryptocurrency exchanges FTX and BitMEX.

A proper regulatory system for cryptocurrencies and virtual assets can facilitate development, protect investors, and adhere to international regulatory standards, says treasury chief Christopher Hui

China’s miners prepare for migration and Hong Kong reacts to possible retail ban. Meanwhile a South Korean governor becomes a crypto influencer.

Hong Kong is poised to ban small investors from buying cryptocurrencies, while making exchanges get licences. Industry experts discuss how this might play out. 

Hong Kong reacts to the region’s pending legislation on limiting crypto investment to professional investors while a conglomerate enters South Korea’s crypto custody scene.

Cryptocurrency exchanges in Hong Kong will have to obtain licenses from the territory’s markets regulator and limit their service offerings to “professional investors”, according to the results of a consultation published today.

As retail interest in crypto grows, countries around the world are grappling with consumer protection. Asia offers a window into the array of policy responses.

The private sector-led Digital Dollar Project is planning CBDC pilots for the US. How are central bank digital currency efforts and progress different in Asia?

Fast-growing DeFi — still a largely unregulated industry — gives FATF an earful over its proposed ‘travel rule’ and expanded anti-money laundering rules.

US and Singapore have licensing laws that give investors more confidence in crypto firms. Stephen Richardson of Fireblocks urges Hong Kong to follow suit.

Asia adds to global Dogecoin froth, investors buy into the meme-currency ahead of US hours. South Korea kicks off a crackdown on illicit crypto use.

China gives the “alternative investment” label to crypto at this year’s Boao Forum for Asia, and hints at reserving a seat for digital assets in the country’s digital economy. Meanwhile, exchanges in Asia recover from crypto’s weekend price crash and see spikes in Bitcoin long orders. We’ll have more on that story — and other […]

XRP joins Wanchain’s DeFi ventures while Thai mobile bank explores the financial experiment. In Hong Kong, local police bust crypto scammers.

Meitu adds to its crypto treasury while Singapore and Hong Kong gear up for the NFT craze.

Welcome to crypto’s latest catwalk. Publisher of Vogue Singapore and a Hong Kong exchange unveil plans to turn up the heat on Asia’s NFT market.

HashKey Group’s Angelina Kwan, a former regulator who helped write laws relevant to the crypto industry, also explains why Hong Kong leads the world in fintech regulations.

Young sailors are competing to win one Bitcoin in the Liberty Bitcoin Cup — a youth version of the America’s Cup — heading to Hong Kong in early 2022.

As interest in green bonds grow around the world, Asia is emerging as a hotbed of sustainable finance. Here’s why China will be leading the way.

New KPMG report outlines opportunities for investors as well as traditional banks with the rise of VASPs like cryptocurrency exchanges and custody services.

Hong Kong Monetary Authority intensifies its CBDC efforts with a new study into ‘hybrid’ digital currencies and private CBDC-backed stablecoins.

Cardano’s ADA, up by 7,400% since last year, is now the 3rd most popular cryptocurrency in the world. Why is it called a ‘Ethereum killer’? Let’s find out.

Cardano blockchain, a so-called ‘Ethereum killer,’ completes its Mary hard fork upgrade as ADA becomes 3rd largest cryptocurrency behind bitcoin and ether.

China, UAE, Hong Kong, Thailand and Bank for International Settlements collaborate on ‘m-CBDC Bridge’ digital currency project for cross-border payments.

Industry insiders warn that proposed rule to allow only ‘professional investors’ to buy and sell crypto could drive companies to crypto-friendlier shores.