Fri, December 13

Hong Kong Plans to Exempt Crypto Gains Tax

While several countries are imposing heavy taxes on cryptocurrency gains, Hong Kong is easing the burden. Hong Kong plans to propose a tax exemption on cryptocurrency gains for institutional investors. According to a 20-page proposal seen by the Financial Times, the exemptions would extend beyond crypto to include a variety

November 28, 2024 2 mins read

Hong Kong’s ZA Bank Opens Crypto Trading for Retail Investors in Asia

ZA Bank, Hong Kong’s largest digital bank, has become the first bank in Asia to offer direct Bitcoin (BTC) and Ethereum (ETH) trading services through its platform. The service has been officially launched on November 25, 2024.  This facilitates users to trade the two major cryptocurrencies using Hong Kong dollars

November 25, 2024 2 mins read

Hong Kong’s ZA Bank Announces Pilot for Crypto Trading Services

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

October 29, 2024 2 mins read

Circle and Hong Kong Telecom Collaborate on Blockchain Loyalty Solutions

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

October 29, 2024 2 mins read

HKVAX Secures License to Serve Retail Crypto Traders in Hong Kong

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

October 5, 2024 2 mins read

HKMA Launches Second Phase of e-HKD to Explore Digital Currency

The Hong Kong Monetary Authority (HKMA) officially commenced the second phase of its central bank digital currency (CBDC) pilot on Monday, renaming the initiative to “Project e-HKD+.” This phase aims to explore the commercial feasibility of the e-HKD through innovative use cases developed by 11 selected firms across various sectors.

September 24, 2024 2 mins read

Hong Kong Strengthens Crypto Regulation with New Oversight for OTC Trading

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

September 12, 2024 2 mins read

Metalpha Deposits Ethereum To Binance Amid ETH Price Recovery Signals

The crypto sector during pivotal market situations sees increased whale activity. Whale movements when significant often influence cryptocurrency prices. Relatedly, in the last few hours, Hong Kong Asset management firm, Metalpha garnered market attention with significant Ethereum movements. Notably, LookOnchain reported that Metalpha moved 10,000 Ethereum tokens worth $23.45 million

September 10, 2024 2 mins read

HashKey Expands Retail Trading with New AVAX and LINK Pairs

HashKey, a licensed cryptocurrency exchange in Hong Kong, has announced the expansion of its asset offerings for retail investors. The exchange received approval to list Avalanche (AVAX) and Chainlink (LINK), allowing retail trading of these tokens in both Hong Kong dollars and US dollars. Previously, Hong Kong regulations only permitted

August 28, 2024 2 mins read

Hong Kong SFC Tightens Grip on Crypto Licensing Standards

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

August 26, 2024 2 mins read