Hong Kong University of Science and Technology Vice President Cai Wensheng proposed the HKD stablecoin on July 4. The Hong Kong government did not support a similar policy suggestion offered by Wang Yang, Lei Zhibin, and Wen Yizhou. The scholars want to create a stablecoin for the local currency that
The Hong Kong government has formed a task team to advocate for Web3 innovation. Late on Friday, the Government of the Hong Kong Special Administrative Region issued a press release announcing a new policy that would go into force today. Paul Chan, the finance secretary of Hong Kong, and other
Shiba Inu, the popular dog-themed memecoin, has unlocked a new milestone in the crypto market. The Hong Kong Virtual Asset Consortium (HKVAC) announced that it includes the SHIB in the virtual asset list index. The announcement has sparked excitement around the SHIB community. The HKVAC has recently launched a rating
Major progress was apparently made in the crypto sector as the Hong Kong rating agency HKVAC published its virtual asset index. The list comprises the 30 biggest cryptocurrencies, including Bitcoin (BTC) and Ethereum (ETH). This follows HSBC’s recent decision to allow Hong Kong residents to invest in Bitcoin and Ethereum
USDC stablecoin issue, Circle Internet’s CEO, Jeremy Allaire, is keeping a close eye on the regulatory updates in Hong Kong after the implementation of its new crypto legislation earlier this month. While the United States continues its regulatory onslaught, crypto companies continue to place a significant emphasis on the Asian
In the ever-evolving landscape of cryptocurrency, the emergence of stablecoins creates waves, offering a refuge for investors in the tumultuous seas of digital finance. Buoyed by robust reserves and promising stability in a volatile market, these digital tokens have rapidly become a preferred asset. Moreover, leading banking institutions and federal
In spite of Hong Kong’s efforts to become Asia’s cryptocurrency capital, major financial institutions remain hesitant to join the trend. According to the most recent FT article, Hong Kong’s banking regulator has been putting pressure on major banks. These include Standard Chartered and HSBC for working with cryptocurrency exchanges. The
Hong Kong, China turning out to register itself as the upcoming crypto hub. The recent updates with regard to Hong Kong depict the growing crypto exploration in the country. Meanwhile, the crypto assets regulation in Hong Kong is active even though certain countries in the West keep a step back.
The Hong Kong Monetary Authority (HKMA) said on Friday (June 9) that it would begin building a central bank digital currency (CBDC) for use in retail transactions in the coming months. The Hong Kong Monetary Authority (HKMA) has reportedly been studying the feasibility of creating a digital Hong Kong dollar
The Hong Kong Police Force’s Cyber Security and Technology Crime Bureau (CSTCB) launched the cutting-edge metaverse platform “CyberDefender”. It is designed to raise public awareness about technology crimes. And to empower individuals to navigate risks within Web3 and the Metaverse. This sophisticated move demonstrates their progressive mindset towards evading digital crimes.
