Category: Hong Kong

Crypto News: HongKong Approves First Crypto ETF Fund Worth $100 Million

Hong Kong, China has approved an Exchange Traded Fund (ETF) worth $100 million that would also include 10% in cryptocurrency. The ETF would be raised by Yibo Financial as per a report from Wu Blockchain. Hong Kong, China has approved the first ETF fund involving cryptocurrency, and Yibo Financial said it will raise 100 million […]

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Fidelity International Increases Stake In A Hong Kong Cryptocurrency Exchange Operator

Less than a year after acquiring a substantial portion in the Hong Kong-based crypto-focused firm BC Technology Group, Fidelity International has upped its stake. The investment subsidiary of the Boston-based mutual fund giant has allocated nearly $7 million more for a total stake of 6.29%. Fidelity Doubles-Down On Investing In A Crypto Firm Bloomberg reported […]

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Bitcoin Trader Robbed During an In-Person Transaction, Kicked Out of Car in Hong Kong

Bitcoin Trader Robbed During an In-Person Transaction, Kicked Out of Car in Hong Kong

An unnamed 37-year-old man was a victim of a theft from a gang of robbers who fled with 15 bitcoin (BTC), worth HKD 3 million ($387,000) in cash. They agreed to meet in person for a crypto exchange transaction. Six Non-Chinese Suspects Allegedly Involved in the Theft Per the South China Morning Post, the bitcoin […]

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Hong Kong crypto exchange OSL suspends XRP trading until further notice

Hong Kong crypto exchange OSL suspends XRP trading until further notice

Hong Kong-based licensed crypto exchange OSL has suspended all XRP trading and payment services until further notice. OSL announced the news on Wednesday, saying that it has taken the decision in light of the U.S. Securities & Exchange Commission’s (SEC’s) enforcement action against Ripple and two of its executives — CEO Brad Garlinghouse and co-founder […]

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Hong Kong Grants First License to Cryptocurrency Trading Platform

Hong Kong Grants First License to Cryptocurrency Trading Platform

Hong Kong now has its first regulated cryptocurrency trading platform. The Securities and Futures Commission has just given out the first-ever crypto license to OSL Digital Securities which will soon commence trading for several cryptocurrencies, including bitcoin. Hong Kong Gives Out First Crypto License Hong Kong’s Securities and Futures Commission (SFC) has licensed the first […]

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Another Asian Crypto Exchange Suspends Withdrawals as China Detains One of Its Founders

Another Asian Crypto Exchange Suspends Withdrawals as China Detains One of Its Founders

Chinese authorities are launching a national crackdown against fraudulent SIM card and bank account schemes. The latest detained under this operation is one of the founders of a Hong Kong-based cryptocurrency exchange CEO Global (ceobi). Crypto Exchange Founder Taken Into Custody by Chinese Police Amid Nationwide Crackdown According to an announcement published by CEO Global, […]

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OMG Price Soars Following Recent Acquisition by Genesis Block Ventures

OMG Price Soars Following Recent Acquisition by Genesis Block Ventures

Genesis Block Ventures, the investment arm of the Hong Kong-based OTC trading company Genesis Block, has acquired the layer-2 scaling solution for Ethereum – OMG Network. The OMG token reacted positively to the news with an immediate double-digit price surge. GBV Acquires OMG Network Formerly known as OmiseGo, OMG Network facilitates transactions on the Ethereum […]

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Hong Kong’s proposed crypto exchange rules could hamper volume, trigger consolidation say industry players

Hong Kong’s proposed crypto exchange rules could hamper volume, trigger consolidation say industry players

Quick Take The Hong Kong government has proposed to require crypto exchanges to obtain a license within 180 days after the policy takes effect  A licensed crypto exchange under the proposed licensing regime can only target professional investors at initial stage Some says such a move may suffocate trading volume and pigeonholes crypto assets as […]

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Hong Kong’s SFC Plans To Regulate Local Cryptocurrency Exchanges

Cryptocurrency trading platforms in Hong Kong will soon be subjected to full legal scrutiny as the nation’s financial watchdog plans to release a new regulatory framework. The Hong Kong’s Securities and Futures Commission (SFC) announced that it plans to regulate all cryptocurrency exchanges in the country, Reuters reported Tuesday. Hong Kong has struggled in the […]

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China and Hong Kong Cracks Down on Crypto as Markets See Red

Regulators in Hong Kong have stated that all crypto trading exchanges and companies need to be regulated regardless of whether they’re selling securities or not. China is also being heavy handed with crypto as its CBDC testing continues.  According to Reuters, the Securities and Futures Commission (SFC) had previously placed an ‘opt in’ regulatory framework […]

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