Tag Archives: hong kong

Seven members alleged to be members of the Hong Kong triad have been arrested in connection with the kidnapping of a cryptocurrency trader. The trader was held last year for ransom that amounted to roughly $3.8 million USD. Seven Hong Kong Men Are Now Facing Life Imprisonment The men have been arrested in mainland China and will be handed over to authorities in their native Hong Kong at the Shenzhen Bay border control point this week. Some of the suspects that were...

Huobi Technology plans to launch ETFs that track cryptocurrencies for retail investors in Hong Kong. The company has reportedly submitted its proposal to Hong Kong’s Securities and Futures Commission (SFC) and waiting for a nod. Huobi’s ETF Plans It intends to structure its ETFs such that they are “accessible to retail investors with less than HK$8 million (US$1 million) in assets,” said a report in the South China Morning Post. The existing law allows crypto exchanges and...

Dozens of clients of the Hong Kong-based cryptocurrency exchange Coinsuper reportedly complained they can not retrieve funds from the platform. At least seven of them have contacted the police regarding the issue. Frozen Funds on Coinsuper According to a January 7 Bloomberg coverage, the problem has occurred in late November. Five of the trading venue’s customers explained to the media that they are unable to withdraw a total of $55,000 (an amount consisting of both digital...

Following a collaboration with the BIS Innovation Hub, the Hong Kong Monetary Authority (HKMA) released a technical Whitepaper on retail CBDC, called “e-HKD: A technical perspective.” The financial institution expects to come up with an initial view of the project by the middle of 2022. One Step Closer to a CBDC The HKMA doubled down on its efforts of launching a digital Hong Kong dollar (e-HKD). After exploring the project’s potential benefits with peer central banks, the...

The world’s leading cryptocurrency exchange continues to tailor its product suite in a way that caters to customer protection regulations. In a recent announcement, the exchange revealed that users from Hong Kong “will not be able to open new derivatives products accounts,” with immediate effect. Moreover, “with effect from a date to be announced in a later notice,” remaining Hong Kong users will have a 90 days grace period to effectively close their currently opened...

Christopher Hui – Hong Kong’s Treasury Secretary – agreed with the government’s intentions to implement certain crypto regulations in the megapolis as he believes Hong Kong would ultimately benefit from them. This Is The Right Decision In a recent speech, the Treasury Secretary of Hong Kong – Christopher Hui, backed up the proposal of the Financial Services and the Treasury to ban retail cryptocurrency trading. He said that the move was a well-thought decision and its...

Two suspects have been accused of stealing almost $500,000 from unsuspecting victims in fraudulent bitcoin transactions in Hong Kong.Fake It Till You Steal ItAccording to a report by the South China Morning Post on Tuesday (Mar. 23, 2021), the victims, aged 33 and 31, were deceived by two con artists in a fake bitcoin transaction. The cons who posed as bitcoin sellers managed to steal HK$3.85 million ($495,650) from the victims.The victims, who work at a money exchange company, went to a shop...

Meitu is a software development firm listed on the Hong Kong Stock Exchange, most known for its selfie-editing app. The app was massively popular in China before adding built-in filters and editors to major social media platforms.Since then, however, the company has struggled to find new avenues of growth. Now, the company is following other major corporations’ footsteps and buying cryptocurrency, not only because they believe the price will go up.Hundred-Million Dollar Buy-InToday, Meitu...

Chinese tech company Meitu has announced a massive purchase of 380 BTC and 15,000 ETH, representing an entry of about 40M USD, as of writing these lines, into the cryptocurrency market.This came just one month after tech mogul Elon Musk, the founder of Tesla, announced that the company would be purchasing 1.5B USD worth of Bitcoin.Although a large Hong Kong-listed firm publicly buying Bitcoin is undoubtedly noteworthy in and of itself, it’s interesting to note Meitu founder Cai Wensheng’s...

A Hong Kong woman has fallen victim to a gang of robbers after conducting a crypto transaction worth almost $450,000.Gang of Four Steal $450K From Hong Kong Crypto TraderAccording to a report by the South China Morning Post, a female crypto trader was held at knifepoint by a gang of thieves, who stole HK $3.5 million ($448,700) from the victim.As part of the robbery operation, one of the thieves posed as a prospective cryptocurrency buyer. The woman had earlier conducted different crypto...