East Asia’s cryptocurrency market is experiencing significant growth, driven by institutional adoption in South Korea and Hong Kong, according to a report by blockchain analytics firm Chainalysis. South Korea leads with $130 billion in on-chain value, while Hong Kong emerges as a major hub due to its unique regulatory framework. Both regions reflect shifting attitudes…
Hong Kong’s Securities and Futures Commission (SFC) is actively seeking input from industry participants on proposed new licensing regulations for over-the-counter (OTC) cryptocurrency services. The initiative aims to establish a comprehensive framework that mandates licensing and adherence to anti-money laundering (AML) and counter-terrorist financing regulations. This move, which includes joint supervision by the SFC and…
The Federal Bureau of Investigation (FBI) has warned of a rising business email compromise (BEC) threat, responsible for $55 billion in global losses over a decade. The scam has affected all 50 U.S. states and 186 countries, with funds frequently routed through banks in the United Kingdom, Hong Kong, China, Mexico, and the United Arab…
China’s digital yuan initiative has advanced considerably, backed by over a decade of research and four years of pilot experimentation, according to Lu Lei, Deputy Governor of the People’s Bank of China (PBOC). Trials for the Chinese central bank digital currency (CBDC) have been conducted in 17 different areas, accumulating a total transaction value of…
Hong-Kong based Metalpha deposited 10K Ethereum to Binance in the past few hours. Ethereum has recorded a 2.68% increase in daily price as per CMC data. The crypto sector during pivotal market situations sees increased whale activity. Whale movements when significant often influence cryptocurrency prices. Relatedly, in the last few hours, Hong Kong Asset management…
Hong- Kong is one of Asia’s fastest-evolving regions for cryptocurrencies and related activities. The region is closely competing with the United Arab Emirates (UAE), which is also among the leading evolving crypto hubs globally. As per a recent announcement, IDA, a Hong- Kong-based cryptocurrency firm, has completed its seed funding round of $6 Million. The…
🚀 Stay Ahead with AltcoinDaily.co! 🌐 Hong Kong’s Securities and Futures Commission (SFC) has granted a digital asset exchange license to Hong Kong Digital Asset Xchange (HKDAEx), despite the formal application deadline having passed on May 31. The approval underscores Hong Kong’s ambitions to fortify its position as a leading global hub for digital assets….
HashKey now lists AVAX and LINK for retail trading. The exchange previously only supported BTC and ETH. HashKey, a licensed cryptocurrency exchange in Hong Kong, has announced the expansion of its asset offerings for retail investors. The exchange received approval to list Avalanche (AVAX) and Chainlink (LINK), allowing retail trading of these tokens in both…
The Hong Kong Monetary Authority (HKMA) has introduced the Project Ensemble Sandbox, an initiative designed to test tokenization use cases across various asset classes and real-world financial applications, according to an Aug. 28 statement. The sandbox will explore and refine the use of tokenized money in interbank settlements and transactions involving tokenized assets. HKMA chief…
Market News Hong Kong’s SFC finds major compliance gaps among crypto firms. Platforms must strengthen anti-money laundering measures or face enforcement actions. Hong Kong’s Securities and Futures Commission (SFC) has identified various shortcomings among crypto firms seeking full licenses. These findings emerged as the SFC intensified its scrutiny of virtual asset trading platforms under its…
August 24, 2024 at 05:48 PM GST 2 mins read News Hong Kong’s spot Bitcoin ETFs gained 274 bitcoins worth HK$2 billion, driven by significant inflows into the ChinaAMC Bitcoin ETF. Two ETFs managed by China and Harvest Asset Management control over 63% of Hong Kong’s Bitcoin ETF market, totaling HK$1.337 billion. Despite recent gains,…
Market News The acquisition expands Sinohope’s influence in the crypto market. Avenir Asset Holding owns 84.62% of Japan’s BitTrade. Sinohope, a Hong Kong-listed cryptocurrency firm previously Known as Huobi Technology, has announced its intention to acquire Avenir Asset Holding for $30.46 million. The deal was confirmed through an official statement on the Hong Kong Stock…