Tag Archives: hong kong

Hong Kong and Shanghai Banking Corporation (HSBC) – the largest bank in the region – has reportedly allowed customers to buy and sell Bitcoin and Ethereum ETFs, becoming the first local financial institution to do so. It also launched an educational program that investors need to read before hopping on the cryptocurrency bandwagon. As revealed by Wu Blockchain, HSBC will enable users to trade BTC and ETH exchange-traded funds (ETFs) listed on the Hong Kong Exchange. SCOOP:...

The Asia-Pacific markets displayed a positive trend, with gains observed in South Korea, Japan, mainland China, and Australia. The Hong Kong stock market featuring indices like the Hang Seng Index (INDEXHANGSENG: HSI) experienced a notable bullish surge in its recent trading session, as investors eagerly await the US May jobs report. The Hang Seng Index finished 4.02% higher at 18,949.94, creating significant market excitement and investor optimism. According to reports, the consumer...

Earn Your First Bitcoin Sign up and get $12 Bonus Referral bonus up to $3,000 Sign up Hong Kong is looking to implement digital currency regulations. It recently took its first step in doing so by deciding (and taking a page out of the U.S. taxation book) that all crypto will be taxed as property and not money. Hong Kong Changes Its Thoughts on Crypto This is very similar to how crypto is taxed...

Huobi Global announced gearing up for the launch of its Hong Kong division on June 1st for users in the city-state. The expansion comes in the backdrop of the Hong Kong securities regulator – Securities and Futures Commission’s (SFC) decision – to allow retail trading in cryptocurrencies has come after a year of turmoil in the sector. The new venue in the special administrative region of China called Huobi Hong Kong will be “fully compliant with local regulations and offer a...

As Hong Kong takes center stage in the regional crypto business, local firms are trying to expand their customer base. One such firm, HashKey Group, is reportedly raising up to $200 million in funding to tap new opportunities. HashKey Eyes $200 Million in Funding Targeting a more significant share of the Asian crypto market, Hong Kong-based crypto financial service provider HashKey Group plans to expand its operations. The crypto investment fund is reportedly in early-stage...

Despite the raging impact of inflation in different economies, monetary authorities have not been sitting on their oars, rather, they have been fighting the surge through consistent interest rate hikes. The Hong Kong Initial Public Offering (IPO) market has failed to get lifted from its dampened sentiment after the listing of Chinese liquor company ZJLD Group failed relatively. As reported by CNBC, the shares of ZJLD Group tumbled as hard as 18% on its first day of trading back on April...

In a landmark ruling, Hong Kong’s High Court declared crypto as property that can be held in trust. This marks the first time such a decision regarding asset class has been made in the city-state. The ruling, which was handed down in liquidation of a case involving the now-defunct crypto exchange Gatecoin, essentially puts crypto on par with other intangible assets such as stocks and bonds. Cryptocurrencies Constitute Property The judgment was revealed by London-based law...

A 55-year-old resident of Hong Kong has reportedly fallen victim to an online cryptocurrency investment scam and lost her entire savings worth nearly HK$7 million (almost $900,000). Such fraud cases have become quite frequent in the region lately. A study estimated that Hong Kong investors had lost around $50 million during the first half of 2022 due to crypto schemes. ‘Obtaining Property by Deception’ According to a South China Morning Post coverage, the woman fell prey when...

Government officials have confirmed the city’s crypto commitments at the Hong Kong Web3 Festival this week as it aims to become a fully regulated crypto hub attracting investment and Web3 startups. On April 12, Financial Secretary Paul Chan Mo-po reiterated that appropriate regulations and oversight were of paramount importance. “I believe that everybody has learned from recent events that appropriate regulations are a must to create a sustainable development environment and...

Seychelles-based crypto exchange OKX has announced its plans to expand its presence in Hong Kong by applying for virtual asset licenses under the new regulatory regime as well as Type 1 and 7 licenses under the Securities and Futures Ordinance. It also plans to establish a Hong Kong entity for launching virtual asset services in the region. OKX’s Hong Kong Expansion According to the official blog post, OKX said it has been working for more than a year to meet Hong Kong’s new...