A lawmaker from Hong Kong has voiced his displeasure with the “excessively stringent” licensing requirements for cryptocurrency exchanges, claiming that these regulations have discouraged prominent international exchanges from setting up offices in Hong Kong and have lowered investor confidence. In an opinion post published on Saturday in the Hong Kong
Several of the biggest international exchanges have withdrawn their applications for licenses from Hong Kong’s Securities and Futures Commission (SFC), seemingly undermining Hong Kong’s hopes of becoming the most sought-after location for Web3 and cryptocurrency. Exchanges, including OKX, Huobi, and Binance, have reportedly chosen to withdraw their applications in the
The Securities & Futures Commission of Hong Kong released the list of crypto exchanges that applied for trading licenses in the country. In the list, the Securities Regulator specified eleven exchanges that are deemed to be approved for licenses in the coming days. The list included leading exchanges Bullish, Crypto.com
In a year marked by extraordinary advancements in the cryptocurrency sector, EXOLO has solidified its position as a frontrunner in innovation, security, and transparency. Their participation in three prestigious events – TOKEN2049 Dubai, Hong Kong WOW Summit, and Crypto Expo Dubai 2024 – highlights their commitment to transforming the digital
Local virtual asset trading platforms (VATPs) that have not yet completed their regulatory applications after a June 1 licensing deadline will be subject to “on-site inspections” according to the Hong Kong Securities and Futures Commission (SFC). On May 28, the SFC reminded cryptocurrency enterprises that they need to get a
Crypto exchange Gate.HK, a Hong Kong subsidiary of Gate.io, is ceasing operations and has withdrawn its application for a license to operate a crypto trading platform in the region. On Wednesday, the business announced plans to do a “major overhaul” of its present platform and asked consumers to remove their
Midway through Wednesday, the spot ether exchange-traded funds (ETFs) established by ChinaAMC, a Chinese fund manager, had a daily influx of almost HK$5 million (US$640,780), a substantial increase. This comes after Tuesday’s record-breaking inflow of HK$3.77 million, the most since the ETF’s launch. Investors are speculating that comparable products might
This time it’s the Hong Kong Office of the Privacy Commissioner for Personal Data (PCPD) that is putting the brakes on Sam Altman’s iris-scanning startup Worldcoin (WLD). A recent development is that Worldcoin was found to have breached the privacy ordinance as per the Privacy Commissioner Chung Lai-ling. Consequently, they
Hong Kong has witnessed numerous advancements in the digital assets sector these past few weeks. Notably today, TaxDAO, a Web3 Finance and Tax organisation launched the first crypto-asset tax reporting software earlier today. The software formerly named Intax was upgraded to FinTax and began seed funding today. With the launch
The Hong Kong Monetary Authority announced the launch of e-CNY wallets for local users in a press release on May 17. The project advocating for Cross-Boundary payments has been in effect since 2019.The e-CNY is a pilot program of China’s experimentation with digital fiat currency payment systems in connection with
