Web3 space is an ever-evolving landscape with new initiatives surfacing every other day. Recently, Vitalik Buterin has been discussing the Ethereum ecosystem’s advancements and upcoming upgrades. Meanwhile, the cryptocurrency realm has also shown bullish signs in the past day. In Hong Kong, the nation’s first digital bank ZA Bank has
Circle, the issuer of the stablecoin USDC, has officially signed a Memorandum of Understanding (MOU) with Hong Kong Telecom (HKT) to explore a blockchain-based customer loyalty solution customized for merchants in Hong Kong. This partnership focuses on leveraging Web3 technology to create dynamic engagement experiences between consumers and merchants. According
Miami, Florida, 25th October 2024, Chainwire
Hong Kong has recently granted the Hong Kong Virtual Asset Exchange (HKVAX) its third licensed cryptocurrency trading platform. This development marks a significant step in the city’s efforts to regulate its digital asset market. The Securities and Futures Commission (SFC) announced this decision as part of a broader initiative to
The Securities and Futures Commission (SFC) of the Special Administrative Region has granted licenses to three cryptocurrency exchanges, among them is the Hong Kong Virtual Asset Exchange (HKVAX), allowing it to service retail consumers. It joins two other Hong Kong exchanges that have recently received full authorization. The HKVAX website
According to an exclusive report from the South China Morning Post (SCMP), Hong Kong is considering involving the Securities and Futures Commission (SFC) and the Customs and Excise Department (C&ED) in regulating over-the-counter (OTC) virtual asset trading services. This initiative comes as the city grapples with the challenges of managing
The Hong Kong Securities and Futures Commission (SFC) granted a virtual asset trading platform (VATP) license to Hong Kong Digital Asset Xchange Limited (HKDAEx) on August 27, regardless of passing the official deadline for applications on May 31, 2024. The Securities and Futures Commission (SFC) introduced a new licensing framework
A survey found that among countries throughout the world, Singapore has the highest rate of cryptocurrency adoption. With Hong Kong and the UAE following closely behind. Researching the current status of cryptocurrency adoption across nations, the Henley Crypto Adoption Index 2024 was published by the investment migration consulting company Henley
Hong Kong’s Securities and Futures Commission (SFC) has identified various shortcomings among crypto firms seeking full licenses. These findings emerged as the SFC intensified its scrutiny of virtual asset trading platforms under its new regulatory framework, which came into effect in 2024. The SFC recently revealed that some crypto entities
The assets under management (AUM) of spot Bitcoin ETFs in Hong Kong have topped 2 billion Hong Kong dollars, or around $256 million. When compared to their American equivalents, the Bitcoin (BTC) exchange-traded funds in Hong Kong have gotten off to a slower start. Data from SoSo Value shows that
