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
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
The Maintenance of the National Security Law was on June 30, 2020, swiftly passed during the meeting of the 13th NPC Standing Committee effectively “gaging” Hong Kongers. The law comprise three ordinances that make up the city-state’s penal law. The National Security Law Trigger Specifically, the Society’s Ordinance covers elements relating to national security. It
Jack Dorsey, the CEO/Founder of Twitter and Founder of Square Crypto is not shy when it comes to Bitcoin. It is evident on his Twitter page and the efforts he has been putting around it. Today, Dorsey posts the snapshot of a conference call with Dr. Nii Quaynor and Pindar Wong. The topics of discussion – Bitcoin.
Octagon Strategy Limited (“OSL”), a Hong-Kong based digital asset brokerage firm, applies for a digital asset exchange license from the Securities & Futures Commission (SFC). The financial watchdog introduced changes to start issuing trade licenses to crypto exchange platforms. Wayne Trench, CEO of OSL told the media, “We congratulate the SFC on announcing its digital asset
In late 2018, the Hong Kong Securities and Futures Commission (SFC) introduced licenses to cryptocurrency funds and related investment managers allowing them to sell digital asset products to their customers. One year in since the announcement, a number of fund managers have complained that the authorities are frustrating their efforts to carry out their businesses.
Bitcoin [BTC] price took another bearish turn this weekend as price broke below $8000 once again. On popular crypto-exchanges like Bitfinex, Coinbase, and so on, it occurred around six times in the last ten days. However, the same was not reflected on CoinMarketCap as the price trade about $100 higher than the mean on most
Tuesday 2nd October 2019, according to stats on localbitcoins, BTC is seen to have recorded a considerably high trading volume. As a matter of fact, today’s figures are the highest recorded in the history of bitcoin trades in Hong Kong. Bitcoin In Heavy Demand This news, having been observed by industry experts have caught the
Popular Seychelles-based crypto derivatives trading platform, BitMEX has announced that it is closing its platform to three jurisdictions. The announcement was made in other to ensure the safety of its customers’ funds as well as the stability of the platform. According to the official announcement, the regions affected by the restriction include Seychelles, Hong Kong,
While Bitcoin is time and again embroiled amidst controversies and turmoil, here is yet another controversy that has surrounded it. As per a Bloomberg report last week, there was a steep rise in Bitcoin trading in Hong Kong. The reason for the same was reported as the protesting citizens turning to cryptocurrencies. While several reports
The uncertainty around the fact the ‘Chinese are buying Bitcoin’ continues to baffle the crypto community. As their Sovereign currency was taking a hit in the wake of the US-China trade war and imminent economic crisis, it was only logical that Bitcoin [BTC] demand might increase. While the findings by crypto-analysts suggested differently, a report
The demand for bitcoin in Hong Kong has soared higher and higher by the weeks as protesters seek the anonymity of transactions and privacy from law enforcers in the country. Bitcoin Trades At A Premium On TideBit At the moment, the price of bitcoin on popular Hong Kong crypto exchange, TideBit is about $11,477.34, about
In a wake of increasing unregistered issuer and unlicensed distributor of Securities Token Offering (STO), Hong Kong-based Securities and Futures Commission (SFC) warned investors against the risk involved in investing in STO. Moreover, it advised distributors to comply with set rules and procedures before marketing any security token. Just to remind, Initial Coin Offering or
Yet another crypto trading platform has joined the rally of the reverse merger – and it is the parent company of OKCoin Exchange, OKC Holdings Group. Following the acquisition of Hong Kong-listed firm, Leap Holding Group OKCoin seeks to enter the Hong Kong market. With ownership of 60.49 percent of its stock, the exchange is likely
When it comes to bitcoin mining pool, Bitmain’s name often appears on top. Very recently, Beijing based Bitmain which is the world’s biggest crypto mining firm has confirmed the layoff plans as a part ‘to live up the company’s mission’. Co-Founders To Step Aside Per the South China Morning Post, Bitmain Technologies is naming a
‘When they make money, there is no thank you. When they lose money, they call it a scam‘; this was the latest response by the Bitcoin billionaire and a promoter Wong Ching-kit who sells bitcoin mining machines. He was recently arrested by the police following various complaints by the general public and behaving in riotous
Despite the severe market, Hongkong stock exchange ‘Madison Holdings Group’, GEM board is all set to acquire 67.2 percent of the stake from BitOcean, a Japanese crypto trading platform. BitOcean will take up the stake of Madison Lab for 1.68 billion yen (US$15.12 million) from Independent third party and the US $15 million in various
Congressmen Darren Soto introduces the Token Taxonomy Act This week again Democrat Darren Soto, alongside fellow Congressman Warren Davidson, introduced the Token Taxonomy Act. The new bill plans clear up the confusion around the classification of cryptocurrency. Most importantly, it states that a digital asset is no longer security once it becomes a fully functioning network.
Legal watchdogs across the world do not afford to leave any way that can effectively regulate cryptocurrency market. As such the latest report unveiled that Hong Kong is considering more stiffen regulations to pull off the crypto firms, traders and other enthusiasts under the guidelines of the Securities and Future Commissions. HongKong Frames Better Regulatory
Security and transparency are at the core in crypto space. Since Hong Kong strictly warn crypto firms to protect their virtual asset, profitable opportunities for custodian firms are likely coming up. InVault, a crypto startup based in Shanghai is launching its crypto custodian services in Hong Kong. The initiative is more likely to get benefited