A Hong Kong woman has reportedly been scammed to the tune of nearly $1 million after being enticed to send money to a fake crypto trading platform. According to a new report from the South China Morning Post (SCMP), a 46-year-old woman from Hong Kong was tricked into sending just over $900,000 to 15 different […]
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The Hong Kong Monetary Authority announced the launch of the second phase of the pilot of its CBDC, the digital Hong Kong dollar (e-HKD). This new phase will focus on furthering the research on already examined use cases for the currency, including programmability and tokenization, and adding new, not previously explored use cases. Hong Kong […]
The Securities and Futures Commission (SFC) of Hong Kong is adding crypto exchange Bybit to its list of suspicious virtual trading platforms. In a new statement, the financial regulator warns investors that Bybit is an unlicensed virtual asset trading platform (VATP). “The SFC cautions investors against investing with unlicensed entities. Investors may risk losing their […]
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The government of Hong Kong has announced Project Ensemble, an initiative that will test the functionality of a wholesale central bank digital currency (WCBDC) and the movement of tokenized deposits. If there is “sufficient interest” in the project, the Hong Kong Monetary Authority (HKMA) will conduct a live issuance of the WCBDC in the future. […]
Unlicensed cryptocurrency platforms will not be allowed to operate in Hong Kong starting next June, according to the Securities and Futures Commission (SFC). The commission closed the period for these institutions to introduce their applications to obtain a license on February 29 and will progressively expel the noncompliant exchanges from the Hong Kong market. Hong […]
The city of Hong Kong has detailed the advancement of new Web3 and digital yuan initiatives as part of its 2024-2025 budget. In a speech, Hong Kong Financial Secretary Paul Chan stated that the city would expedite a Web3 sandbox for stablecoins and expand the digital yuan pilot as part of its digital finance policies. […]
Hong Kong’s financial regulators plan to crack down on over-the-counter (OTC) crypto trading activity in the city-state, according to a Bloomberg report. The report says that Hong Kong’s Financial Services and the Treasury Bureau earlier this month kicked off consultations focused on fighting fraudulent activity, terrorism financing and money laundering in the OTC crypto conversion […]
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Hong Kong’s central bank is releasing new guidelines for institutions interested in offering crypto custodianship services. The Hong Kong Monetary Authority (HKMA) published new guidelines this morning for financial institutions seeking to sell or distribute tokenized products. According to the note, the HKMA encourages financial institutions to do their due diligence while researching potential digital […]
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A multinational asset management giant has reportedly submitted the first application for a spot Bitcoin (BTC) exchange-traded fund (ETF) in Hong Kong. Harvest Fund Management applied to the Securities and Futures Commission (SFC) of Hong Kong, according to a recent report from the Chinese media outlet Tencent News. Tencent also reports that the regulator hopes […]
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Hong Kong is asking for the public’s opinion on a new legislative proposal to regulate stablecoins and the issuers of these fiat-backed crypto assets. On Wednesday, the city’s Financial Services and the Treasury Bureau (FSTB) and the Hong Kong Monetary Authority (HKMA) jointly launched a public consultation paper to gather feedback on the government’s plan […]
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