Tag Archives: hong kong

The defendants allegedly used their connections on the inside to ensure that their withdrawals were prioritized over those of other customers. Bankrupt crypto exchange FTX has sued former employees of its Hong Kong-based affiliate Salameda in hopes of recovering $157.3 million. According to a Thursday filing, Salameda was being controlled by the firm’s ex-CEO, Sam Bankman-Fried. New Filing against Ex-Employees of Salameda Reveals ‘Shady’ FTX Withdrawals The filing claims that 5 individuals...

The Hong Kong police have apprehended six individuals in connection with the cryptocurrency trading platform JPEX, which shuttered its operations this week. According to a South China Morning Post report, the authorities arrested four men and two women, including influencer Joseph Lam Chok, following 1,408 complaints of fraud related to JPEX. Local news outlets additionally reported that law enforcement seized evidence, including a laptop and a sum of cash. The estimated...

The Hong Kong Securities and Futures Commission (SFC) has issued a stern warning against the use of the crypto exchange known as JPEX. The commission has accused the platform of exhibiting “suspicious features” and promoting misleading information about its licensing status. The SFC has also denied that JPEX is regulated. SFC Issues Warning Against JPEX According to a report by SCMP, the SFC expressed concerns about false and misleading statements being propagated by online...

The Switzerland-based financial institution that focuses on cryptocurrencies – SEBA Bank – has reportedly secured an approval-in-principle from Hong Kong’s securities regulator.  The company now needs to comply with additional conditions for final approval before being eligible to provide digital asset services to local consumers.  One Step Away From Offering Crypto Services Based on a Bloomberg coverage, the Hong Kong Securities and Futures Commission intends to grant the...

CoinspeakerAnimoca Founder Highlights China’s Influence on Hong Kong’s Crypto Push In his speech, Siu emphasizes the importance of fighting US hegemony and lowering reliance on the US dollar for countries such as China. Animoca Founder Highlights China’s Influence on Hong Kong’s Crypto Push

Towards the end of May, crypto prices rose somewhat following news that Hong Kong would permit retail trading and move in the opposite direction of its mainland countrymen. Hong Kong Says “Yes” to Crypto Trading Bitcoin, for example, which had been trading in the mid-$26,000 range for several weeks, eventually shot beyond the $27K mark for the first time in a while, while Ethereum – which had fallen into the $1,700 range – shot up to about $1,850. The jumps...

Jeremy Allaire – co-founder and CEO of the stablecoin-issuer Circle – said his company has been closely observing the regulatory developments in Hong Kong.  The authorities of the former British colony have recently allowed investors to trade cryptocurrency under a new regime as they carry “fundamental value.” Asia is a ‘Huge Area of Focus’ In a recent interview for Bloomberg, Allaire noted Hong Kong’s efforts to establish itself as a “very significant center for digital...

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...