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Hong Kong Representative Explores Adding Bitcoin to National Reserve Under ‘One Country, Two Systems’ Framework

Hong Kong Representative Explores Adding Bitcoin to National Reserve Under ‘One Country, Two Systems’ Framework

A lawmaker in Hong Kong is reportedly proposing adding Bitcoin (BTC) to the region’s reserves for the purpose of financial stability. Wu Jiexhuang, a member of the Hong Kong Legislative Council and chairman of the Web3 Virtual Asset Development Subcommittee, said that the region should study how to maintain financial security with BTC, according to […]

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Thailand launches crypto payment trial in Phuket

HashKey Group launches Ethereum layer-2 HashKey Chain mainnet

The launch follows a successful testnet period where 50 projects were deployed and more than 24.72 million transactions were completed.

HashKey Chain, a public blockchain developed by Hong Kong-based HashKey Group, officially launched its Ethereum layer-2 mainnet on Dec. 18.

The mainnet launch follows a month-long successful testnet period during which more than 860,000 wallet addresses were registered, a reported 24.72 million transactions were recorded, and over 300,000 community members participated. 

Hashkey Group announced the mainnet launch. Source: Hashkey HSK

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Thailand launches crypto payment trial in Phuket

Why Hong Kong has grown into a crypto hub — CEO of WOW Summit

"Hong Kong’s 'one country, two systems' framework lets it explore digital asset innovation more freely," Ivan Ivanov told Cointelegraph.

Hong Kong has rapidly become a cryptocurrency hub, positioning itself as a center for financial innovation alongside the United Arab Emirates (UAE) and Singapore. Ivan Ivanov, global CEO of WOW Summit, said this innovation was fostered by a mixture of strong regulatory policy and Hong Kong's status as a special economic region.

Ivanov told Cointelegraph that Hong Kong's special relationship with mainland China and robust regulation allow Hong Kong to be a sandbox for financial and technical innovation, which benefits startups, nascent technologies, and institutional investors. Ivanov wrote:

The WOW Summit CEO added that Hong Kong's stablecoin policy, which requires issuers of stablecoins to acquire licenses and keep their fiat reserves in local Hong Kong banks, promotes trust and transparency in the nascent asset sector.

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Thailand launches crypto payment trial in Phuket

Hong Kong Considers Bill to Regulate Stablecoins

Hong Kong Considers Bill to Regulate StablecoinsThis framework will provide the legal foundation for stablecoin regulation in Hong Kong. Regulation for Stablecoins Hong Kong is taking another bold step in its aspiration to establish itself as a global hub for digital assets. The city’s financial regulators are set to submit a draft of the “Stablecoin Regulatory Framework” to the Legislative Council […]

Thailand launches crypto payment trial in Phuket

Hong Kong Plans To Exempt Hedge Funds, Private Equity Firms and the Super Rich From Paying Crypto Taxes: Report

Hong Kong Plans To Exempt Hedge Funds, Private Equity Firms and the Super Rich From Paying Crypto Taxes: Report

Hong Kong is reportedly eyeing new tax policies that can help in its push to become a top finance and cryptocurrency hub. Citing a 20-page proposal that was circulated this week, The Financial Times reports that China’s special administrative region (SAR) plans to exempt private equity funds, hedge funds and the investment vehicles of the […]

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Thailand launches crypto payment trial in Phuket

Largest Digital Bank in Hong Kong to Offer Bitcoin Trading to Retail Users

Largest Digital Bank in Hong Kong to Offer Bitcoin Trading to Retail UsersZA Bank combines traditional banking with digital assets to offer cryptocurrency services to retail users. Bitcoin Trading for Retail Customers in Asia Zhong An (ZA) Bank, a digital bank in Hong Kong, has declared that it has become the first bank in Asia to provide retail customers with bitcoin trading services. The launch of the […]

Thailand launches crypto payment trial in Phuket

Hong Kong Exposes Crypto Firms Misrepresenting as Licensed Banks

Hong Kong Exposes Crypto Firms Misrepresenting as Licensed BanksThe Hong Kong Monetary Authority (HKMA) has issued a warning about the misuse of the term “bank” by overseas crypto firms operating in Hong Kong, cautioning the public to verify the legitimacy of such claims. The HKMA observed that two crypto firms, which are not licensed banks in Hong Kong, misrepresented themselves — one by […]

Thailand launches crypto payment trial in Phuket

Wave of All-Time Highs Causes Trading Volume of Hong Kong Spot Bitcoin ETFs to Skyrocket

Wave of All-Time Highs Causes Trading Volume of Hong Kong Spot Bitcoin ETFs to SkyrocketAs bitcoin prices continue to reach new highs, the prices of related spot exchange-traded funds (ETFs) have surged significantly. According to the Hong Kong Stock Exchange, the three spot Bitcoin ETFs listed in Hong Kong recorded a trading volume of over HK$120 million last week, marking a remarkable increase of more than 55% compared to […]

Thailand launches crypto payment trial in Phuket

3 Central Banks Forge New Path in Cross-Border Digital Asset Innovation

3 Central Banks Forge New Path in Cross-Border Digital Asset InnovationNew partnerships between central banks target digital currency integration to streamline tokenized cross-border transactions and modernize the global financial infrastructure. Cross-Border Finance Revolution: Three Nations Pioneer Digital Asset Integration The Hong Kong Monetary Authority (HKMA) unveiled two significant partnerships this week to promote cross-border tokenization with the Bank of Thailand (BOT) and Brazil’s Banco Central […]

Thailand launches crypto payment trial in Phuket

Stablecoin Giant Circle Exploring Customer Loyalty Solutions With Hong Kong Telecom Firm

Stablecoin Giant Circle Exploring Customer Loyalty Solutions With Hong Kong Telecom Firm

Circle is entering an agreement with a Hong Kong telecommunications firm with the aim of building blockchain-based solutions for the Asia-based company. The USDC stablecoin issuer says it is signing a memorandum of understanding with the technology, media and telecommunications firm HKT to “explore a potential collaboration in developing blockchain-based customer loyalty solutions for merchants […]

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Thailand launches crypto payment trial in Phuket