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The standards for Virtual Asset Service Providers (VASPs) in Hong Kong are set “incredibly high” as the Securities and Futures Commission (SFC) is wanting the crypto industry to match the same compliance standards as traditional financial firms.Speaking to Cointelegraph at the Hong Kong WOW Summit, Lucy Gazmararian, the founder of
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Some countries around the world suffered bigger financial losses to cryptocurrency scams despite a massive bear market in 2022.Losses from crypto scams in Hong Kong amounted to 1.7 billion Hong Kong dollars ($216.6 million) last year, surging 106% from a year before, according to the local police.The number of crypto-related
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Sun thinks China is looking at Hong Kong as a kind of experiment, to see if crypto can be regulated on the mainland. If Hong Kong suceeds it could create a change of attitude in Beijing. "So that's why they want to see Hong Kong do it first," he said.
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The Securities and Futures Commission is adopting a “regulate to protect” approach to digital assets, the report said. Source
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Hong Kong’s ambition of becoming a cryptocurrency hub is reportedly seeing subtle support from the Chinese government, in what could be seen as a contrast to the mainland’s hard-line anti-crypto stance. In October last year, the government of Hong Kong floated the idea of introducing its own bill to regulate crypto
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During Hong Kong FinTech Week, held in early November, he asked one of his staff whether he should get his first virtual asset. The bureau is piloting a non-fungible token (NFT) offering – one of a few pilots the regulator is rolling out, along with tokenizing green bonds and a
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The special administrative region of China wants to become a regional crypto hub, but FTX’s filing for bankruptcy protection could prompt regulators to tighten restrictions. Source
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The nonfungible token (NFT) marketplace for American video game retailer GameStop has officially gone live on Ethereum layer-2 blockchain ImmutableX, all part of the latest Web3 push from the gaming retailer. The pair first partnered in February to build the marketplace offering a $100 million grant for NFT content creators and
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Bitcoin was recently trading at about $21,100, a more than 5% increase over the past 24 hours that helped the largest cryptocurrency regain much of the ground lost the previous day. Ether, the second largest crypto by market cap, was changing hands over $1,140, an 8% gain. Other major altcoins
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