Hong Kong makes HKVAX third licensed retail crypto exchange
HKVAX is the first to be licensed under the region’s new licensing regime, as 16 more exchanges wait. Go to Source
Hong Kong
Auto Added by WPeMatico
Hong Kong to align crypto OTC derivative rules with European standards
Hong Kong regulators will align their crypto OTC derivatives reporting with ESMA’s standards, including the use of Digital Token Identifiers. Go to Source
Hong Kong CBDC Pilot Enters Phase 2 With New Firms to Advance Digital Currency Use Cases
The Hong Kong Monetary Authority (HKMA) has moved into Phase 2 of its e-HKD pilot program, expanding its exploration into tokenized deposits and e-HKD. With 11 groups of firms selected, the initiative delves into practical applications such as offline payments and asset settlement. The creation of an industry forum aims to solve potential challenges while … Read more
Sygnum Secures Liechtenstein License to Expand Crypto Services in EU
Sygnum, a Swiss digital asset banking group, has registered its local subsidiary with the Liechtenstein financial regulator. This move allows the company to offer regulated services in the EU and European Economic Area under the incoming MiCA framework. With plans for further growth in Asia, including Hong Kong and Singapore, Sygnum continues to strengthen its … Read more
Stablecoins and crypto are threatening fiat money dominance in Eastern Asia
Hong Kong emerged as the fastest-growing Eastern Asian country in terms of global crypto adoption, with 40% of the region’s value received in stablecoins. Go to Source
South Korea, Hong Kong Lead Crypto Market Growth in East Asia
East Asia’s cryptocurrency market is experiencing significant growth, driven by institutional adoption in South Korea and Hong Kong, according to a report by blockchain analytics firm Chainalysis. South Korea leads with $130 billion in on-chain value, while Hong Kong emerges as a major hub due to its unique regulatory framework. Both regions reflect shifting attitudes … Read more
Hong Kong should try to speed up crypto regulation: First Digital CEO
First Digital Trust, which provides crypto custody services for institutions, says that Hong Kong is not yet ready to regulate USD-backed stablecoins. Go to Source
Hong Kong SFC Seeks Industry Feedback on New Licensing Rules for OTC Crypto Services
Hong Kong’s Securities and Futures Commission (SFC) is actively seeking input from industry participants on proposed new licensing regulations for over-the-counter (OTC) cryptocurrency services. The initiative aims to establish a comprehensive framework that mandates licensing and adherence to anti-money laundering (AML) and counter-terrorist financing regulations. This move, which includes joint supervision by the SFC and … Read more
FBI Warns of Growing $55 Billion Business Email Scam
The Federal Bureau of Investigation (FBI) has warned of a rising business email compromise (BEC) threat, responsible for $55 billion in global losses over a decade. The scam has affected all 50 U.S. states and 186 countries, with funds frequently routed through banks in the United Kingdom, Hong Kong, China, Mexico, and the United Arab … Read more
China’s Digital Yuan Nears $1 Trillion in Transactions, PBOC Official Reveals
China’s digital yuan initiative has advanced considerably, backed by over a decade of research and four years of pilot experimentation, according to Lu Lei, Deputy Governor of the People’s Bank of China (PBOC). Trials for the Chinese central bank digital currency (CBDC) have been conducted in 17 different areas, accumulating a total transaction value of … Read more