Tag Archives: hong kong

With increasing cryptocurrency-related crimes in Hong Kong, Bitrace has ramped up its efforts to tackle the problem. The prominent data analysis company has reportedly conducted training sessions on on-chain fund tracking for members of the Hong Kong Police Force. Bitrace Bolsters Efforts to Combat Crypto Crimes The latest initiative is part of the company’s Corporate Social Responsibility efforts that aim to improve law enforcement’s understanding of blockchain technology,...

Hong Kong authorities captured three teenagers and rescued a 19-year-old who had fallen victim to a harrowing ordeal involving assault and unlawful detention last month. The police are actively hunting the remaining six individuals – comprising four males and two females – suspected to be involved. Hong Kong Teen Assaulted Over Crypto Profits According to a report by SCMP, the victim was lured under the guise of meeting people and trading crypto assets. Upon arrival in a room...

The Hong Kong-based crypto exchange HKVAEX, reportedly associated with Binance, withdrew its license application from the Securities and Futures Commission of Hong Kong (SFC) on March 28th. HKVAEX announced its intention to apply for a license in October last year while clarifying that it operates as a distinct entity from Binance under BX Services Limited in Hong Kong. However, there are shared resources between the companies, including the use of Binance servers for content...

A 46-year-old housewife in Hong Kong has reported losses of 7.1 million Hong Kong dollars ($908,000) after investing in a fraudulent crypto investment platform. According to a report by the South China Morning Post, people familiar with the matter revealed that the woman did not realize she had been scammed until a year after the incident when she discussed the investment with her family. Hong Kong Housewife Scammed of $908K One of the fraudsters contacted the victim through...

CSOP Asset Management, a capital market firm in Hong Kong, disclosed in an interview with Reuters that its exchange-traded product, the CSOP Bitcoin Futures ETF (3066.HK), has witnessed a surge in assets under management (AUM) over the past five months. The ETF’s Assets Under Management (AUM) has soared five-fold to over $100 million. Rising Trading Volumes and AUM Regarding trading volumes, the CSOP Bitcoin Futures ETF has increased in average daily turnover, reaching $2.8...

Coinspeaker22 Crypto Firms Seek Operational Licenses in Hong Kong Jurisdictions like Hong Kong offer a middle ground, balancing investor protection with fostering innovation and economic growth. 22 Crypto Firms Seek Operational Licenses in Hong Kong

The Virtual Asset Trading Platform (VATP) is a license provided by the government of Hong Kong that allows crypto exchanges to operate within the bounds of the region. Although the license has been available for several years now, only two exchanges – HashKey and OSL – are currently in possession of one. A number of applicants have been on the waitlist for a while – including HTX, formerly known as Huobi, until yesterday, when the firm withdrew its application. Earlier Plans...

Hong Kong-based cryptocurrency exchange BitForex has stopped all withdrawals for at least three days, leaving users puzzled and worried about the safety of their assets. This incident was revealed when blockchain sleuth ZachXBT flagged suspicious activity on the platform, sparking fears of a potential exit scam. Exit Scam Suspicions and Halted Withdrawals ZachXBT, in a post dated February 26, expressed concerns about potential irregularities involving BitForex, suggesting the...

Worldcoin’s legal problems are far from over. Spearheaded by OpenAI, Sam Altman’s Worldcoin initiative continues to find itself embroiled in a privacy controversy as reports emerge of a probe launched by Hong Kong’s data protection authority. HKET, a local media outlet, disclosed that six Worldcoin booths were subjected to investigation under a court warrant, with authorities requesting pertinent documents and information. Worldcoin’s Data Handling Practices Under...

The primary focus continues to be on spot Bitcoin ETFs and Hong Kong players do not want to be left behind. Harvest Fund Management’s Hong Kong branch is the latest entity to apply for a spot Bitcoin exchange-traded fund (ETF) with local regulators. This move aligns with Hong Kong’s preparations for its first wave of spot crypto  ETFs. First Spot Bitcoin ETF in Hong Kong According to the Tencent report, Harvest aims to launch the city’s first spot Bitcoin ETF after the Lunar...