Tag Archives: hong kong

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...

Less than a year after acquiring a substantial portion in the Hong Kong-based crypto-focused firm BC Technology Group, Fidelity International has upped its stake. The investment subsidiary of the Boston-based mutual fund giant has allocated nearly $7 million more for a total stake of 6.29%.Fidelity Doubles-Down On Investing In A Crypto FirmBloomberg reported in February last year that Fidelity International had acquired a $14.2 million stake in BC Technology Group Ltd. – the operator of one...

Hong Kong says that it is looking to regulate all crypto activity from here on out. This is a massive distancing of itself when compared with the activity occurring in mainland China, which has largely sought to ban crypto activity outright.Hong Kong Is Changing Its Attitude Towards CryptoHowever, Hong Kong is looking to be a separate entity given the amount of protests regarding Chinese government interference that has taken place over the last two years. Thus, it makes sense that whatever...

Cryptocurrency trading platforms in Hong Kong will soon be subjected to full legal scrutiny as the nation’s financial watchdog plans to release a new regulatory framework. The Hong Kong’s Securities and Futures Commission (SFC) announced that it plans to regulate all cryptocurrency exchanges in the country, Reuters reported Tuesday. Hong Kong has struggled in the past with unclear rules for crypto exchanges. After a first failed attempt in 2018, the country published an...

There is a new form of crypto fraud making its way throughout Hong Kong – one that has led to tens of millions of dollars being stolen.Hong Kong Is the Center of a New Kind of Crypto ScamThe idea of striking it rich in crypto has been around for some time. Unfortunately, many are so taken by this possibility that they are unable to see the red flags staring them in the face when they enter a new business venture. However, at the time of writing, the scam does not appear to be business or...

Merely weeks after the launch of John McAfee’s privacy token GHOST, the coin is already seeing real-life utilization in Hong Kong Disneyland.The team behind the project also announced several upcoming features, including a “decentralized crowdfunding” platform and the release of the GHOST Cell Phone Service beta.GHOST Usage In Hong KongThe former antivirus software tycoon and popular cryptocurrency proponent John McAfee announced its newest digital asset endeavor in April. Called GHOST, it’s...