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Hong Kong Considers Strengthening Crypto Regulatory Oversight Following Hounax and JPEX Fallout

Recent scams in the Hong Kong crypto scene has prompted calls for tighter regulation and increased regulatory powers to tackle crypto fraud. Hong Kong is contemplating tightening regulatory measures to tackle crypto scams, as Chief Executive John Lee Ka-chiu announced a review of legislation following an alleged fraud of HK$148 million ($19

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​​Hong Kong authorities say 145 victims and $18.9M lost in Hounax scam

Hong Kong authorities reported on Nov. 27 that 145 users were affected in a scam by the unlicensed cryptocurrency exchange Hounax, resulting in a loss of 148 million HKD ($18.9 million), according to local media Shenzhen Commercial News. On Nov. 25, local police held an initial press conference to inform the

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Hong Kong police investigates Hounax exchange for alleged rug pull 

Hong Kong Police and SFC investigate Hounax, a non-licensed crypto exchange, after receiving 145 reports of fraud. Following the arrest of several individuals linked to the JPEX cryptocurrency fraud, another Hong Kong-based virtual asset trading platform, Hounax, has experienced a rug pull. According to local reports, the Hong Kong Police

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Crypto exchange grace period to remain unchanged in Hong Kong despite scandals

A one-year grace period for cryptocurrency exchanges operating in Hong Kong will remain in place despite recent scandals.According to local news reports on Nov. 27, Julia Leung, CEO of Hong Kong’s Securities and Futures Commission, stated, “Even if the grace period ends tomorrow, fraud will still occur, so there is

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Binance-linked HKVAEX still preparing to apply for license in Hong Kong

Hong Kong cryptocurrency exchange HKVAEX has not applied for a virtual asset trading platform license with Hong Kong’s Securities and Futures Commission (SFC), a spokesperson for HKVAEX has said.Amid multiple reports erroneously suggesting that HKVAEX has applied for an SFC license, the HKVAEX representative claimed the crypto exchange is yet

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Interactive Brokers Hong Kong receives license to trade virtual assets

In a post made Nov. 23 on LinkedIn, David Friedland, the Managing Director of the Asia Pacific region for Interactive Brokers, shares an early announcement of a Hong Kong license approval. The license is said to allow retail clients to trade Bitcoin (BTC) and Ethereum (ETH). A surge in activity The recent announcement

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