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On Monday, however, Babel said it had reached preliminary agreements with counterparties on the repayment of some debts that led to the halt on withdrawals. "We have actively communicated with shareholders and potential investors, and will continue to communicate and obtain liquidity support," Babel said in a statement. Original Source
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The Securities and Futures Commission (SFC) of Hong Kong, the financial regulator responsible for overseeing Hong Kong’s securities market, has issued an advisory warning to investors. The notice is about risks associated with purchasing and trading unregulated non-fungible tokens (NFTs). The advisory points out that NFTs do not have any
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As crypto’s market cap pushes past $2 trillion and makes its way onto the balance sheet of many institutional investors and corporations, Hong Kong insurer OneDegree has announced a deal with Munich Re, one of the world’s largest reinsurers, to offer a new digital asset insurance product. Original Source
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Analysts says that the market crash in Hong Kong is being driven by regulatory not monetary policies, which is why the contagion has not spread to crypto. Original Source
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Read MoreThe Bitcoin Association of Hong Kong, a major local alliance promoting crypto awareness and education, is launching the “Bitcoin Tram” ad campaign in Hong Kong; one of the world’s main global financial centres.According to a Sept. 11 announcement, the new ad campaign composes three double-decker trams fully covered with Bitcoin
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