In an audacious move this morning, China’s capital, Beijing, spotlighted its commitment to the evolution of the internet by unveiling an ambitious blueprint known as the “Web 3.0 Innovation and Development White Paper (2023)”. This seminal document, touted by a local media outlet, The Paper, points to web3 technology as
According to those in the know, Hong Kong will soon let individual investors trade Bitcoin (BTC), Ethereum (ETH), and other top cryptocurrencies after successfully luring crypto luminaries to set up organizations and exchanges there. Hong Kong is taking advantage of the current climate by expanding its position as a worldwide
When it comes to establishing guidelines for Hong Kong’s cryptocurrency sector, the government has been quite transparent. According to the most recent data, the Securities and Futures Commission in Hong Kong will shortly publish regulations for the cryptocurrency sector. Regulators in Hong Kong have warned cryptocurrency businesses not to count
Hong Kong seems to be realizing its goal of becoming a center for the cryptocurrency industry. Guidelines for regulating cryptocurrency exchanges are expected to be released by the Securities Futures Commission (SFC) of the jurisdiction in May 2023. The finance regulator initiated a similar platform for public input last year.
Governments all across the globe have struggled to grasp the actual nature of cryptocurrencies. Despite its label as a commodity by some. The U.S SEC has been advocating for it to be treated as a security. A Hong Kong court has ruled that cryptocurrencies are property in a case involving
As part of its strategy to shift its emphasis from retail to institutional clients, Bloomberg reports that Singapore’s Amber Group is contemplating selling its Japanese operation. Annabelle Huang, the managing partner at Amber, said the company is exploring alternatives, including a sale, for its Japan division. A “very high quality
Diverting their focus from the prevailing volatility in the crypto market, Hong Kong (HK) is keenly advancing towards crypto and Web3 adoption. This is evident from the crypto regulatory actions and Web3-centric events scheduled in the region. On Wednesday, Binance CEO Changpeng Zhao (CZ) connected in a candid virtual interview
Hong Kong is a global leader in the areas of crypto, web 3.0, and decentralized finance. The special administrative region’s goals and policies are consistent with its vision of becoming a technological center. ZA Bank, a regional institution, recently announced that it will support fiat and cryptocurrency transactions and provide
There have been no big setbacks to Hong Kong’s crypto push, so far. All of the predicted growth in the digital asset market seems to be materializing. ZA Bank, Hong Kong’s biggest virtual bank, now supports both fiat and cryptocurrency transactions and provides account services to the city’s burgeoning digital
Chinese state-owned banks have emerged as an unexpected source of possible support for the influx of cryptocurrency businesses into Hong Kong after the city granted access to the beaten-down industry. Moreover, Chinese banks have been reaching out to crypto firms directly over the last few months, adding to indications that
