Interpol Issues Red Notice for ‘Coin Young Master’ Who Threw Cash From Rooftop

July 30, 2024 Bitcoin.com

bitcoin.com

Interpol is aiding Hong Kong officials in locating Wong Ching-kit, a cryptocurrency promoter known as “Coin Young Master,” notorious for his 2018 stunt of tossing HK$6,000 from a rooftop. Wong faces charges of fraud and theft, including involvement in a HK$3 million cryptocurrency deception. An Interpol red notice has been issued to facilitate his arrest. […]

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Hong Kong Lawmaker Advocates for Bitcoin Inclusion in Strategic Fiscal Reserves

July 29, 2024 Bitcoin.com

bitcoin reserves

Hong Kong legislator Wu Jiezhuang has proposed an initiative to consider the inclusion of Bitcoin in the region’s strategic fiscal reserves. This move, aimed at enhancing Hong Kong’s economic framework and accelerating Web3 development, underscores the growing global recognition of Bitcoin as ‘digital gold’. Wu’s proposal, which comes in response to Donald Trump’s speech at […]

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Hong Kong legislator eyes Bitcoin for fiscal reserves

July 28, 2024 Coin Telegraph

Bitcoin

By engaging with stakeholders and focusing on compliance, Johnny Ng aims to position Hong Kong as a leader in adopting Bitcoin and Web3 technologies.

Hong Kong Legislative Council Member Johnny Ng has announced plans to collaborate with various stakeholders to assess the feasibility and potential benefits of incorporating Bitcoin into the special administrative region’s financial reserves.

In a recent post on X, Ng emphasized the increasing global recognition of Bitcoin (BTC), often dubbed “digital gold” due to its perceived value and potential as a hedge against inflation.

He highlighted the importance of considering Bitcoin in strategic fiscal reserves, suggesting that its inclusion could benefit Hong Kong’s economic framework under the right regulatory conditions.

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HK police arrest 4, including teen, in HK$11M crypto fraud

July 28, 2024 Coin Telegraph

HK police arrest 4, including teen, in HKM crypto fraud

14-year-old

The authorities continue to urge the public to remain cautious and verify the legitimacy of financial transactions to avoid falling victim to such elaborate scams.

In a significant crackdown on financial fraud, Hong Kong police have arrested four individuals, including a 14-year-old, for their involvement in a syndicate using counterfeit banknotes to defraud cryptocurrency owners.

According to local media, the operation resulted in losses of up to HK$11 million (US$1.4 million). The arrests are part of ongoing efforts by law enforcement to combat the rise in crypto-related scams in the region.

Chief Inspector of the Commercial Crime Bureau, Lo Yuen-shan, revealed on July 28 that the latest arrests bring the total number of individuals apprehended in connection with these scams to 14 since October of last year.

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Hong Kong Launches Its First Inverse Bitcoin ETF Product

July 25, 2024 Bitcoin.com

Bitcoin (BTC)

CSOP Asset Management, a regulated asset management company, has become the first to launch an inverse Bitcoin ETF in Hong Kong’s markets. This allows traders and investors to speculate on the decline of the cryptocurrency’s value. The product complements other ETF products already available, further establishing the city as an international crypto market. CSOP Asset […]

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Hong Kong’s Boyaa Interactive Announces Strategic Bitcoin Ecosystem Cooperation, Plans to Purchase $100 Million in BTC

July 22, 2024 Bitcoin.com

Hong Kong’s Boyaa Interactive Announces Strategic Bitcoin Ecosystem Cooperation, Plans to Purchase 0 Million in BTC

Bitcoin ecosystem fund

Boyaa Interactive, a public gaming company based in Hong Kong, has announced a strategic investment in the UTXO Bitcoin Ecosystem Fund. The company plans to allocate $1,000,000 to this initiative, aimed at promoting the Group’s business development and expansion in the Web3 industry. Boyaa aims to ‘deepen its presence in the Web3 industry, leverage the […]

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Hong Kong Introduces Blockchain Vertical in Global Fast Track 2024

July 22, 2024 Bitcoin.com

bitcoin.com

Invest Hong Kong, the government department responsible for attracting foreign direct investment, has announced the 7th edition of the Global Fast Track (GFT) 2024, a program designed to empower business connectivity among fintech startups, corporates, and investors. The program, open for applications until September 20, offers fintech companies worldwide the opportunity to pitch their cases […]

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Standard Chartered, Animoca Brands, and HKT Join Forces on Hong Kong’s Stablecoin Sandbox

July 19, 2024 Bitcoin.com

bitcoin.com

Standard Chartered Bank (Hong Kong) Ltd. (SCBHK), Animoca Brands, and Hong Kong Telecom (HKT) have united to participate in the Hong Kong Monetary Authority’s (HKMA) stablecoin issuer sandbox, announced in March. Leveraging Zodia Custody’s digital asset capabilities, the collaboration aims to promote sustainable and transparent growth in the digital asset market. Zodia is Standard Chartered’s […]

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France and Hong Kong Collaborate to Advance Global Tokenization Market With CBDC Initiatives

July 9, 2024 Bitcoin.com

bitcoin.com

The Banque de France (BDF) and the Hong Kong Monetary Authority (HKMA) have announced a collaboration on wholesale central bank digital currency (wCBDC). This partnership includes the HKMA’s involvement in Wave 2 of the European Central Bank’s Eurosystem exploratory work. The institutions signed a Memorandum of Understanding (MoU) to innovate in wCBDC and tokenization markets, […]

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Hong Kong Professor: China’s Crypto Mining Ban Shifts Businesses to US

July 3, 2024 Bitcoin.com

bitcoin.com

Professor Wang Yang, vice president for institutional advancement and chair professor at the Department of Mathematics at the Hong Kong University of Science and Technology (HKUST), criticized China’s cryptocurrency mining ban during a panel discussion in Hong Kong last week. He called the decision “very unwise” because it shifted businesses to the U.S., boosting American […]

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