https://www.scmp.com/rss/518224/feed News and analysis about non-fiat, decentralised assets used as digital currencies, including bitcoin, ether, altcoins and stablecoins. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Ben Young Ben Young Over the past few years, digital art has become a more integral part of the contemporary art scene. At this year’s Art Basel Hong Kong, this evolution was exemplified by Zero 10, the fair’s new curated space for digital practices that was a huge hit in Miami. Yet non-fungible tokens (NFTs), which became synonymous with digital art during a hype-driven, celebrity-endorsed asset bubble in 2021, have seen massive drop-offs in terms of both market cap and cultural relevance. This is due to multiple... https://www.scmp.com/special-reports/article/3352492/nft-hype-dead-its-tech-remains-useful-art-experts-say?utm_source=rss_feed https://www.scmp.com/special-reports/article/3352492/nft-hype-dead-its-tech-remains-useful-art-experts-say?utm_source=rss_feed Tue, 05 May 2026 22:00:12 +0000 Reuters Reuters World Liberty ⁠Financial, the crypto venture co-founded ⁠by US President Donald Trump and his sons, said on Monday it had filed a defamation lawsuit against Hong Kong-based crypto entrepreneur Justin Sun, in the latest escalation of a dispute ‌between the project and one of its most prominent backers. World Liberty posted a copy of its lawsuit on X in which it accused Sun of launching a “public smear campaign” including claims that it said were false. The crypto project – one of several... https://www.scmp.com/news/world/united-states-canada/article/3352408/trump-familys-crypto-project-sues-billionaire-backer-justin-sun?utm_source=rss_feed https://www.scmp.com/news/world/united-states-canada/article/3352408/trump-familys-crypto-project-sues-billionaire-backer-justin-sun?utm_source=rss_feed Mon, 04 May 2026 15:42:44 +0000 Eunice Xu Eunice Xu Stablecoin payments into Hong Kong are surging on the cross-border payment network of Circle Internet Group, operator of the world’s second largest stablecoin issuer USDC, as the US firm eyes regulatory approval in the Asian crypto hub, its CEO said in an interview. “Hong Kong remains a central trade hub, and cross-border payments and cross-border trade are major drivers in the adoption of stablecoins,” said Jeremy Allaire, co-founder and CEO of Circle. He said that payments into Hong Kong were... https://www.scmp.com/tech/blockchain/article/3352027/hong-kong-key-global-hub-usdc-cross-border-payments-circle-ceo?utm_source=rss_feed https://www.scmp.com/tech/blockchain/article/3352027/hong-kong-key-global-hub-usdc-cross-border-payments-circle-ceo?utm_source=rss_feed Fri, 01 May 2026 00:30:08 +0000 Agence France-Presse Agence France-Presse Police in Thailand have arrested an Indonesian who allegedly defrauded Americans of about US$10 million, Thai authorities say, adding that they will extradite him to the United States. The 33-year-old Indonesian man was arrested on Friday at a luxury resort in the coastal town of Phuket after a tip-off from the US Federal Bureau of Investigation (FBI), Suriya Poungsombat of the national immigration police said on Sunday. The FBI had informed Thai authorities that the suspect left Dubai and... https://www.scmp.com/news/asia/southeast-asia/article/3351508/thailand-extradite-indonesian-man-us10-million-scam-targeting-americans?utm_source=rss_feed https://www.scmp.com/news/asia/southeast-asia/article/3351508/thailand-extradite-indonesian-man-us10-million-scam-targeting-americans?utm_source=rss_feed Mon, 27 Apr 2026 02:07:04 +0000 Sylvia Ma Sylvia Ma Daniel Gros is the director of the Institute for European Policymaking at Bocconi University. Previously, he served as an adviser to the European Parliament, collaborated with the European Commission as economic adviser to the Delors Committee, which developed plans for the euro, and worked at the International Monetary Fund. In this interview, Gros examines the structural tensions shaping EU-China economic ties, draws lessons from the euro’s experience to analyse the yuan’s... https://www.scmp.com/economy/china-economy/article/3351329/daniel-gros-what-china-can-learn-euro-it-works-towards-global-yuan?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3351329/daniel-gros-what-china-can-learn-euro-it-works-towards-global-yuan?utm_source=rss_feed Sun, 26 Apr 2026 22:00:14 +0000 Fiona Chow Fiona Chow A Hong Kong court has acquitted a former senior manager at a major Chinese cryptocurrency exchange of secretly moving about US$5 million in Tether stablecoins, worth around HK$39 million, to his own accounts six years ago. A seven-member High Court jury on Friday found Chen Boliang, who used to work at cryptocurrency firm Huobi – now known as HTX – not guilty of accessing its platform to trade in so-called dark pools under an individual account he created with an alias between February 27 and... https://www.scmp.com/news/hong-kong/law-and-crime/article/3351270/ex-manager-crypto-firm-huobi-acquitted-moving-millions-tether-account?utm_source=rss_feed https://www.scmp.com/news/hong-kong/law-and-crime/article/3351270/ex-manager-crypto-firm-huobi-acquitted-moving-millions-tether-account?utm_source=rss_feed Fri, 24 Apr 2026 06:24:23 +0000 Xinmei Shen Xinmei Shen Chinese economist Fu Peng, whose candid remarks about the country’s economic ills went viral, has joined a Hong Kong cryptocurrency firm as chief scientist, hailing the “historical” leap of digital assets into mainstream finance despite their current slump. “[Digital assets] have become mature enough to be added to investment portfolios,” Fu said in Hong Kong on Thursday, addressing audience members at an event organised by his new employer Bitfire Group, a Hong Kong-listed crypto asset... https://www.scmp.com/tech/article/3351160/chinese-economist-fu-peng-joins-hong-kong-listed-bitfire-hails-cryptos-historic-rise?utm_source=rss_feed https://www.scmp.com/tech/article/3351160/chinese-economist-fu-peng-joins-hong-kong-listed-bitfire-hails-cryptos-historic-rise?utm_source=rss_feed Thu, 23 Apr 2026 11:00:09 +0000 Sylvia Ma Sylvia Ma Daniel Gros is the director of the Institute for European Policymaking at Bocconi University. Previously, he served as an adviser to the European Parliament, collaborated with the European Commission as economic adviser to the Delors Committee, which developed plans for the euro, and worked at the International Monetary Fund. In this interview, Gros examines the structural tensions shaping EU-China economic ties, draws lessons from the euro’s experience to analyse the yuan’s... https://www.scmp.com/plus/economy/china-economy/article/3351083/euro-yuan-unlikely-match-us-dollar-global-currencies-daniel-gros-says?utm_source=rss_feed https://www.scmp.com/plus/economy/china-economy/article/3351083/euro-yuan-unlikely-match-us-dollar-global-currencies-daniel-gros-says?utm_source=rss_feed Thu, 23 Apr 2026 04:30:08 +0000 Agence France-Presse Agence France-Presse Entrepreneur Justin Sun filed a lawsuit on Wednesday accusing a Trump family-backed cryptocurrency platform of fraud and alleging he was blocked from withdrawing his assets. In a San Francisco federal court filing reviewed by Agence France-Presse, the Chinese-born crypto billionaire and former Trump ally claims to have bought US$45 million worth of WLFI, an electronic currency launched by World Liberty Financial in October 2024. To thank him for the investment – at a time when WLFI was... https://www.scmp.com/news/world/united-states-canada/article/3351063/billionaire-justin-sun-sues-trump-family-crypto-venture?utm_source=rss_feed https://www.scmp.com/news/world/united-states-canada/article/3351063/billionaire-justin-sun-sues-trump-family-crypto-venture?utm_source=rss_feed Wed, 22 Apr 2026 23:08:16 +0000 Kun Tian Kun Tian The most revealing fact about Hong Kong’s stablecoin launch is not that licences were issued. It is who got them, and who did not. By handing the first approvals to HSBC and the Standard Chartered-led joint venture Anchorpoint Financial, regulators made clear from the start that digital money in Hong Kong will be bank-led. That choice matters because Hong Kong is not trying to become Asia’s easiest venue for cryptocurrency experimentation. Rather, it is trying to become the most credible place... https://www.scmp.com/opinion/hong-kong-opinion/article/3350356/what-hong-kongs-conservative-stablecoin-licence-roll-out-reveals?utm_source=rss_feed https://www.scmp.com/opinion/hong-kong-opinion/article/3350356/what-hong-kongs-conservative-stablecoin-licence-roll-out-reveals?utm_source=rss_feed Wed, 22 Apr 2026 22:30:08 +0000 Agence France-Presse Agence France-Presse A notorious North Korean hacking group is likely behind the theft of nearly US$300 million in cryptocurrency over the weekend, an affected party has said, in the biggest known crypto heist this year. It is the latest such incident linked to North Korea, whose sophisticated cybercrime programme uses stolen cryptocurrency to help fund its nuclear weapons development, according to a United Nations panel. Digital currency news site CoinDesk said the heist on the vault of online investment tool... https://www.scmp.com/news/asia/east-asia/article/3350964/north-koreas-lazarus-suspected-stealing-us290-million-kelpdao-cyberattack?utm_source=rss_feed https://www.scmp.com/news/asia/east-asia/article/3350964/north-koreas-lazarus-suspected-stealing-us290-million-kelpdao-cyberattack?utm_source=rss_feed Wed, 22 Apr 2026 05:12:23 +0000 Xinmei Shen Xinmei Shen Hong Kong has signalled its ambitions for greater global influence in the digital asset industry, with a lawmaker taking a subtle swipe at US crypto regulatory efforts at one of the city’s largest Web3-themed events. “We can be a little bit more aspirational now that we have a strong hold locally,” said Eric Yip Chee-hang, executive director of intermediaries at the Securities and Futures Commission (SFC). “We should also expand our influence by [increasing] exposure internationally.” Hong Kong... https://www.scmp.com/tech/tech-trends/article/3350722/hong-kong-lawmaker-swipes-us-lack-clarity-city-eyes-global-crypto-lead?utm_source=rss_feed https://www.scmp.com/tech/tech-trends/article/3350722/hong-kong-lawmaker-swipes-us-lack-clarity-city-eyes-global-crypto-lead?utm_source=rss_feed Mon, 20 Apr 2026 10:00:25 +0000 Yeon Woo Lee Yeon Woo Lee Hong Kong is better placed than many of its Asian peers to turn stablecoins into commercially viable products at scale, underpinned by its early lead in tokenisation and growing experience in moving financial infrastructure on-chain, according to HSBC’s head of digital assets research. “Hong Kong already has examples of deploying the technology and can now look towards commercial applications and scaling,” said Daragh Maher, HSBC’s head of digital assets research, in an interview on the... https://www.scmp.com/tech/blockchain/article/3350498/hong-kong-seen-leading-asia-push-scale-stablecoins-hsbc-says?utm_source=rss_feed https://www.scmp.com/tech/blockchain/article/3350498/hong-kong-seen-leading-asia-push-scale-stablecoins-hsbc-says?utm_source=rss_feed Sat, 18 Apr 2026 02:30:11 +0000 Enoch Yiu Enoch Yiu For Hong Kong’s 3.3 million PayMe users, everyday transactions such as buying coffee or splitting bills with friends could soon involve stablecoins, with HSBC preparing to introduce the digital currency in the second half of this year. That comes after HSBC Holdings, together with a Standard Chartered-led joint venture, became the first to obtain a stablecoin issuer licence from the Hong Kong Monetary Authority on Friday, marking a breakthrough in the city’s digital finance development. HSBC,... https://www.scmp.com/business/banking-finance/article/3350089/how-paymes-33-million-users-and-hong-kong-firms-could-start-using-stablecoins?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3350089/how-paymes-33-million-users-and-hong-kong-firms-could-start-using-stablecoins?utm_source=rss_feed Wed, 15 Apr 2026 00:00:37 +0000 Daniel Ren,Enoch Yiu Daniel Ren,Enoch Yiu The Hong Kong Monetary Authority (HKMA) is being urged to go further in loosening restrictions on stablecoins, after granting the city’s first two licences to banks to issue the digital currency. Bankers, venture capitalists and analysts said the long-awaited approvals – awarded to HSBC and a joint venture led by Standard Chartered – fell short of market expectations, underscoring the regulator’s cautious stance amid lingering risk concerns. “It came as a surprise that only two licences were... https://www.scmp.com/business/banking-finance/article/3349742/hong-kong-regulator-urged-expand-stablecoin-rules-after-cautious-roll-out?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3349742/hong-kong-regulator-urged-expand-stablecoin-rules-after-cautious-roll-out?utm_source=rss_feed Sat, 11 Apr 2026 09:10:21 +0000 Enoch Yiu Enoch Yiu HSBC and a joint venture led by Standard Chartered have been awarded Hong Kong’s first stablecoin issuer licences, marking the city’s latest step towards embracing cryptocurrency’s most-traded cash substitute in its bid to become a global digital asset hub. Eight months after Hong Kong’s Stablecoin Ordinance, one of the world’s first such laws, took effect, HSBC and Anchorpoint Financial, the Standard Chartered-led group, received the green light from the Hong Kong Monetary Authority (HKMA) on... https://www.scmp.com/business/cryptocurrency/article/3349644/hong-kong-awards-stablecoin-licences-hsbc-stanchart-led-group-long-awaited-roll-out?utm_source=rss_feed https://www.scmp.com/business/cryptocurrency/article/3349644/hong-kong-awards-stablecoin-licences-hsbc-stanchart-led-group-long-awaited-roll-out?utm_source=rss_feed Fri, 10 Apr 2026 09:09:55 +0000 Julie Zhang Julie Zhang OKX Ventures and HashKey Capital have agreed to invest in Vietnam’s cryptocurrency trading platform CAEX, a move the exchange said would give it enough capital to join the country’s regulated pilot scheme for digital asset trading. The combined capital injection from OKX Ventures and HashKey Capital, which would be deployed in April, aimed to help CAEX – officially known as Vietnam Prosperity Cryptocurrency Asset Exchange Joint Stock Company – reach the minimum charter capital threshold of 10... https://www.scmp.com/business/banking-finance/article/3349530/okx-ventures-hashkey-investment-enables-vietnam-crypto-platforms-pilot-scheme-bid?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3349530/okx-ventures-hashkey-investment-enables-vietnam-crypto-platforms-pilot-scheme-bid?utm_source=rss_feed Fri, 10 Apr 2026 02:30:08 +0000 Letters Letters Feel strongly about these letters, or any other aspects of the news? Share your views by emailing us your Letter to the Editor at letters@scmp.com or filling in this Google form. Submissions should not exceed 400 words As Hong Kong prepares to issue its first stablecoin licences, much of the debate frames stablecoins in Hong Kong, China’s digital renminbi and US dollar-backed tokens as rival currencies competing on the same track. That comparison, however, risks missing the point. While these... https://www.scmp.com/opinion/letters/article/3349155/hong-kong-not-competing-us-stablecoins-or-digital-renminbi?utm_source=rss_feed https://www.scmp.com/opinion/letters/article/3349155/hong-kong-not-competing-us-stablecoins-or-digital-renminbi?utm_source=rss_feed Tue, 07 Apr 2026 03:30:08 +0000 SCMP Editorial SCMP Editorial Better safe than sorry – that seems to be why authorities have delayed the stablecoin roll-out. Industry players had expected the Hong Kong Monetary Authority (HKMA), the city’s de facto central bank, to announce the granting of a small number of stablecoin licences at the end of March. But the date came and went. The regulatory review process appears to be taking longer, given the regulators’ well-known cautious stance. But the policy – to make Hong Kong a digital-asset hub with stablecoins... https://www.scmp.com/opinion/comment/article/3348924/stablecoin-launch-delay-shows-hong-kong-would-rather-be-safe-sorry?utm_source=rss_feed https://www.scmp.com/opinion/comment/article/3348924/stablecoin-launch-delay-shows-hong-kong-would-rather-be-safe-sorry?utm_source=rss_feed Sun, 05 Apr 2026 23:15:16 +0000 Laura Zhou Laura Zhou The compound is modern with air conditioning in every room. Inside are a medical clinic, massage parlour, and Vietnamese barbecue, Chinese hotpot and halal eateries – a full range of conveniences. Yet the residents are gone – and they appear to have fled in haste. Clothes still hang out to dry, while the stench of rotting food lingers. Located in a secluded area in Kampot province near Cambodia’s border with Vietnam, the site is believed to be a telecoms scam centre. Cambodian authorities said... https://www.scmp.com/news/china/diplomacy/article/3348930/game-whack-mole-how-could-scam-industry-bring-china-and-us-together?utm_source=rss_feed https://www.scmp.com/news/china/diplomacy/article/3348930/game-whack-mole-how-could-scam-industry-bring-china-and-us-together?utm_source=rss_feed Fri, 03 Apr 2026 22:00:10 +0000 Julie Zhang,Enoch Yiu Julie Zhang,Enoch Yiu Hong Kong’s highly anticipated first batch of stablecoin licences did not materialise as expected by the end of March. Industry players said the delay may be caused by a slower-than-expected review process, adding that it could also be due to the regulators’ cautious stance towards launching the first batch of regulated stablecoin licences as the city seeks to cement its status as a digital-asset hub. “I don’t think [the delay] is caused by the market,” said Jack Poon, a member of the task force... https://www.scmp.com/business/banking-finance/article/3348492/hong-kongs-anticipated-stablecoin-licence-end-march-does-not-materialise?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3348492/hong-kongs-anticipated-stablecoin-licence-end-march-does-not-materialise?utm_source=rss_feed Wed, 01 Apr 2026 00:30:08 +0000 Kandy Wong Kandy Wong Professor Kenneth Rogoff of Harvard University has repeatedly warned that the US dollar is approaching a crisis of legitimacy. Having written extensively on the global recession in the late 2000s, Rogoff has turned his focus to the US currency’s increasingly unstable place at the top of the world’s financial hierarchy. A former chief economist at the International Monetary Fund and a chess grandmaster, he published Our Dollar, Your Problem in May last year. In this interview, Rogoff elaborates... https://www.scmp.com/economy/china-economy/article/3348156/why-kenneth-rogoff-thinks-chinas-yuan-will-be-reserve-currency-next-5-years?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3348156/why-kenneth-rogoff-thinks-chinas-yuan-will-be-reserve-currency-next-5-years?utm_source=rss_feed Sun, 29 Mar 2026 22:00:18 +0000 Edith Lin Edith Lin Hong Kong police have charged another 10 people in connection with the HK$1.6 billion (US$205.8 million) JPEX cryptocurrency scandal – the city’s largest alleged financial fraud in recent years. Four men and six women were charged on Thursday after investigations identified abnormal transactions in suspicious accounts linked to the case, police said. The suspects, aged between 26 and 47, will appear in Eastern Court on Friday charged with money laundering and conspiracy to launder money. The... https://www.scmp.com/news/hong-kong/law-and-crime/article/3348049/police-charge-another-10-people-over-hk16-billion-jpex-cryptocurrency-scandal?utm_source=rss_feed https://www.scmp.com/news/hong-kong/law-and-crime/article/3348049/police-charge-another-10-people-over-hk16-billion-jpex-cryptocurrency-scandal?utm_source=rss_feed Thu, 26 Mar 2026 16:21:29 +0000 Kandy Wong Kandy Wong Professor Kenneth Rogoff of Harvard University has repeatedly warned that the US dollar is approaching a crisis of legitimacy. Having written extensively on the global recession in the late 2000s, Rogoff has turned his focus to the US currency’s increasingly unstable place at the top of the world’s financial hierarchy. A former chief economist at the International Monetary Fund and a chess grandmaster, he published Our Dollar, Your Problem in May last year. In this interview, Rogoff elaborates... https://www.scmp.com/plus/news/china/money-wealth/article/3347930/euro-chinese-yuan-end-us-dollar-dominance-top-economist-says?utm_source=rss_feed https://www.scmp.com/plus/news/china/money-wealth/article/3347930/euro-chinese-yuan-end-us-dollar-dominance-top-economist-says?utm_source=rss_feed Thu, 26 Mar 2026 02:31:08 +0000 Kandy Wong Kandy Wong Welcome to Open Dialogue, a series from the South China Morning Post where we bring together leading voices to discuss the stories and subjects occupying international headlines. In this edition, we invited a prominent industry player and economist to reflect on the role of stablecoins, cryptocurrencies pegged to fiat currencies or other assets. They discuss the differing approaches of China and the United States, as well as Hong Kong’s role in China’s strategy, as the city is expected to issue... https://www.scmp.com/economy/china-economy/article/3347710/gary-liu-and-liu-xiaochun-what-role-stablecoins-could-play-china-and-us?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3347710/gary-liu-and-liu-xiaochun-what-role-stablecoins-could-play-china-and-us?utm_source=rss_feed Tue, 24 Mar 2026 22:00:28 +0000 Eunice Xu Eunice Xu In late 2022, Syed Musheer Ahmed packed his bags and departed Hong Kong. The founder of fintech advisory firm FinStep Asia headed for Dubai, where he joined the founding team of the Gulf city’s new digital-asset regulator, Virtual Assets Regulatory Authority (VARA). Like many in Hong Kong’s crypto scene at the time, Ahmed was drawn by the Middle East’s regulatory clarity – a stark contrast to the uncertainty and Covid-19 restrictions still lingering in his adopted home. “Dubai came up as a good... https://www.scmp.com/tech/blockchain/article/3347286/will-hong-kongs-regulatory-clarity-crypto-forge-path-global-hub-status?utm_source=rss_feed https://www.scmp.com/tech/blockchain/article/3347286/will-hong-kongs-regulatory-clarity-crypto-forge-path-global-hub-status?utm_source=rss_feed Sat, 21 Mar 2026 04:00:08 +0000 Xinmei Shen Xinmei Shen US crypto advocates have increasingly pointed to competition with China’s new interest-bearing e-CNY to demand legislative clarity on stablecoin yields, but China is charting a completely different course for the future of digital money, experts said. “The world’s two largest economies are not so much competing in digital assets as they are pursuing very different strategies,” said Andrew Fei, a partner at law firm King & Wood Mallesons in Hong Kong. Winston Ma, adjunct professor and executive... https://www.scmp.com/news/us/article/3347221/us-china-split-digital-money-deepens-stablecoin-debate-stalls-clarity-act?utm_source=rss_feed https://www.scmp.com/news/us/article/3347221/us-china-split-digital-money-deepens-stablecoin-debate-stalls-clarity-act?utm_source=rss_feed Thu, 19 Mar 2026 17:22:14 +0000 Aileen Chuang Aileen Chuang HSBC and a joint venture led by Standard Chartered are expected to be among the first companies to obtain Hong Kong’s stablecoin licences within two weeks, according to people familiar with the matter. The number of licences and timetable had yet to be finalised and remained subject to change, but sources said a possible date was March 24. The two banks declined to comment. The Hong Kong Monetary Authority (HKMA) last month revealed that a small number of stablecoin licences would be granted... https://www.scmp.com/business/cryptocurrency/article/3346311/hong-kong-poised-grant-first-stablecoin-licences-hsbc-standard-chartered-sources?utm_source=rss_feed https://www.scmp.com/business/cryptocurrency/article/3346311/hong-kong-poised-grant-first-stablecoin-licences-hsbc-standard-chartered-sources?utm_source=rss_feed Thu, 12 Mar 2026 09:00:08 +0000 Reuters Reuters Chinese cryptocurrency entrepreneur Justin Sun reached a US$10 million settlement to resolve a US Securities and Exchange Commission civil fraud case over his trading activity. Thursday’s settlement requires court approval, with the payment ‌made by one of Sun’s companies. It came as President Donald Trump, a Republican, pushes to make the US a global hub for the cryptocurrency industry. Sun and his companies did not admit or deny wrongdoing, the SEC said in a letter to US District Judge Edgardo... https://www.scmp.com/news/world/united-states-canada/article/3345633/crypto-billionaire-justin-sun-settles-us-fraud-case-us10-million?utm_source=rss_feed https://www.scmp.com/news/world/united-states-canada/article/3345633/crypto-billionaire-justin-sun-settles-us-fraud-case-us10-million?utm_source=rss_feed Thu, 05 Mar 2026 22:54:46 +0000 Enoch Yiu Enoch Yiu HSBC, the largest lender in Europe and Hong Kong by assets, has signalled for the first time its intent to engage with the city’s forthcoming stablecoin regime, citing Hong Kong’s sound regulatory environment and its potential to drive innovation in the digital asset space. “We are interested in every part of Hong Kong’s innovation landscape, and we want to play a role in all of it,” CEO Georges Elhedery said in a small-group interview – in response to a question whether the bank had applied for... https://www.scmp.com/business/banking-finance/article/3345047/hsbc-signals-intent-join-hong-kongs-stablecoin-regime-amid-digital-innovation-push?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3345047/hsbc-signals-intent-join-hong-kongs-stablecoin-regime-amid-digital-innovation-push?utm_source=rss_feed Sun, 01 Mar 2026 23:30:13 +0000 Natalie Wong,Lam Ka-sing Natalie Wong,Lam Ka-sing A new government committee tasked with reviewing Hong Kong’s tax policies will consider updating them to allow for levies on the virtual asset sector and selected emerging industries, while providing incentives to attract business and investment, the South China Morning Post has learned. The SCMP learned of the development on Wednesday as experts called for Financial Secretary Paul Chan Mo-po to regard the new Advisory Committee on Tax Policy, which he will chair, as an opportunity to conduct a... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3344648/hong-kongs-virtual-asset-sector-considered-taxation-under-policy-review?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3344648/hong-kongs-virtual-asset-sector-considered-taxation-under-policy-review?utm_source=rss_feed Wed, 25 Feb 2026 15:12:25 +0000 Enoch Yiu Enoch Yiu When Wilson Chan Fung-cheung joined Hong Kong’s banking industry as a foreign-exchange trader more than four decades ago, his work involved US dollars, UK pounds, Japanese yen and various European and Asian currencies – but not Chinese yuan. “Back then, there was no yuan trading at all as, in fact, the internationalisation of the yuan only started in 2009,” recalled Chan, who has worked for various Chinese banks. Beijing’s decision that year to promote its currency for wider use in trade,... https://www.scmp.com/business/banking-finance/article/3344464/why-chinas-path-financial-superpower-status-could-begin-hong-kong?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3344464/why-chinas-path-financial-superpower-status-could-begin-hong-kong?utm_source=rss_feed Tue, 24 Feb 2026 15:00:09 +0000 Bloomberg Bloomberg Bitcoin extended a four-week slide as investors returned to a more cautious macro backdrop. The token dropped as much as 3.2 per cent to US$66,604 on Tuesday, before paring the decline. Bitcoin, which has traded like a high-beta tech proxy in recent months, mirrored an earlier move lower in US equities, but failed to keep pace when stocks edged higher. “Sentiment is clearly bleak in crypto markets,” said Noelle Acheson, author of the Crypto is Macro Now newsletter. “There is strong progress in... https://www.scmp.com/tech/blockchain/article/3343879/sentiment-bleak-bitcoin-declines-geopolitical-tensions-add-risk-mood?utm_source=rss_feed https://www.scmp.com/tech/blockchain/article/3343879/sentiment-bleak-bitcoin-declines-geopolitical-tensions-add-risk-mood?utm_source=rss_feed Wed, 18 Feb 2026 06:06:08 +0000 Aileen Chuang Aileen Chuang This Lunar New Year, Hongkongers can gift friends and family digital gold tokens, a new way of blending the city’s tradition of giving gold for good wishes with the convenience of blockchain technology. HSBC added this new transfer feature earlier this month to its retail gold token, which represents fractional ownership of physical gold stored in a secure vault and is the only retail-focused gold token approved by Hong Kong’s Securities and Futures Commission. The bank’s enhancement to its gold... https://www.scmp.com/business/cryptocurrency/article/3343695/what-tokenised-gold-and-why-are-financial-institutions-and-investors-looking-it?utm_source=rss_feed https://www.scmp.com/business/cryptocurrency/article/3343695/what-tokenised-gold-and-why-are-financial-institutions-and-investors-looking-it?utm_source=rss_feed Tue, 17 Feb 2026 02:00:17 +0000 Agence France-Presse Agence France-Presse As a first-year computer science student in Hanoi, Hoang Le started trading cryptocurrency from his university dorm room, egged on by his gamer friends who were making a killing. At one point his digital holdings jumped to US$200,000 – around 50 times the average annual income in Vietnam. But they crashed to zero when the bottom fell out of bitcoin and other cryptocurrencies in recent months. Getting wiped out “hurt a lot”, he said, but he also learned a valuable lesson: he has come to think of... https://www.scmp.com/news/asia/southeast-asia/article/3343615/how-things-went-downhill-vietnams-once-booming-cryptocurrency-traders?utm_source=rss_feed https://www.scmp.com/news/asia/southeast-asia/article/3343615/how-things-went-downhill-vietnams-once-booming-cryptocurrency-traders?utm_source=rss_feed Sun, 15 Feb 2026 06:26:23 +0000 Iris Deng Iris Deng As the cryptocurrency market faces mounting pressure, Standard Chartered on Thursday cut its forecast for bitcoin, flagging a further drop to US$50,000 before the world’s largest cryptocurrency stabilises. The digital currency was trading at around US$66,300 at 1pm Hong Kong time on Friday, a decline of nearly 50 per cent from a historical high of US$126,000 in October. Ether slid slightly to US$1,940 at 1pm on Friday. The world’s second-largest digital token has lost 60 per cent of its value... https://www.scmp.com/tech/article/3343504/standard-chartered-expects-bitcoin-slump-us50000-mounting-comeback?utm_source=rss_feed https://www.scmp.com/tech/article/3343504/standard-chartered-expects-bitcoin-slump-us50000-mounting-comeback?utm_source=rss_feed Fri, 13 Feb 2026 10:27:45 +0000 Eunice Xu Eunice Xu In a makeshift boxing ring, two humanoids square off; one in blue headgear and gloves, the other in matching red. The spectacle might be run-of-the-mill for a robotics conference, but this was Consensus Hong Kong 2026, one of the largest events for the digital assets industry. Behind the human-controlled fighting humanoids was BitRobot, an embodied AI research network built on the Solana blockchain. Despite the bitcoin drawdown of recent weeks, the mood was upbeat. Consensus this year... https://www.scmp.com/tech/tech-trends/article/3343349/policy-products-web3-innovation-takes-centre-stage-consensus-hong-kong?utm_source=rss_feed https://www.scmp.com/tech/tech-trends/article/3343349/policy-products-web3-innovation-takes-centre-stage-consensus-hong-kong?utm_source=rss_feed Thu, 12 Feb 2026 13:00:14 +0000 Mandy Zuo Mandy Zuo As the global financial landscape shifts and policy uncertainty grows in the United States, China is likely to emerge as an increasingly attractive destination for foreign investors seeking to diversify away from dollar-denominated assets, according to a veteran Singaporean investor. US President Donald Trump’s push for a weaker dollar, together with recent volatility in gold, silver and cryptocurrencies, has prompted a reassessment of traditional safe havens, positioning China as a potential... https://www.scmp.com/economy/china-economy/article/3343187/trump-factor-why-china-may-benefit-investors-diversify-us-dollar-assets?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3343187/trump-factor-why-china-may-benefit-investors-diversify-us-dollar-assets?utm_source=rss_feed Thu, 12 Feb 2026 02:00:14 +0000 Yeon Woo Lee Yeon Woo Lee Hong Kong’s securities regulator unveiled several new initiatives on Wednesday aimed at further developing the city’s virtual asset sector while strengthening investor safeguards. The announcements by the Securities and Futures Commission (SFC) coincided with Consensus 2026, a major cryptocurrency conference running this week at the Hong Kong Convention and Exhibition Centre, attended by industry figures such as Binance CEO Richard Teng and Solana Foundation president Lily Liu. “[At Consensus... https://www.scmp.com/business/banking-finance/article/3343189/hong-kong-bridges-traditional-and-digital-finance-worlds-new-virtual-asset-initiatives?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3343189/hong-kong-bridges-traditional-and-digital-finance-worlds-new-virtual-asset-initiatives?utm_source=rss_feed Wed, 11 Feb 2026 09:30:20 +0000 Eunice Xu Eunice Xu As Consensus 2026 officially kicks off in Hong Kong this week, digital asset firms are rolling out product updates to coincide with one of the industry’s most significant events. Digital asset custodian Hex Trust launched Aura on Wednesday, a wealth management platform for private investors that integrates trading, investment and estate planning. “Aura marks a new evolution for Hex Trust,” said the firm’s CEO and co-founder Alessio Quaglini in a press release. He noted that while Hex Trust had... https://www.scmp.com/tech/tech-trends/article/3343075/stablecoins-wealth-platforms-launched-consensus-2026-amid-tighter-beijing-oversight?utm_source=rss_feed https://www.scmp.com/tech/tech-trends/article/3343075/stablecoins-wealth-platforms-launched-consensus-2026-amid-tighter-beijing-oversight?utm_source=rss_feed Wed, 11 Feb 2026 01:00:14 +0000 Ji Siqi,Eunice Xu Ji Siqi,Eunice Xu With China explicitly banning onshore tokenisation of real-world assets (RWAs) while tightening scrutiny of related offshore activities, analysts say the clampdown is aimed at curbing financial fraud and disorderly capital outflows, while still preserving space for regulated innovation in markets such as Hong Kong. Tokenisation refers to the process of converting the rights to an RWA – including real estate, art, bonds and commodities like gold – into a digital token. Such tokens represent... https://www.scmp.com/economy/china-economy/article/3342952/chinas-necessary-asset-tokenisation-ban-targets-scams-and-capital-flight-analysts-say?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3342952/chinas-necessary-asset-tokenisation-ban-targets-scams-and-capital-flight-analysts-say?utm_source=rss_feed Mon, 09 Feb 2026 12:30:19 +0000 Xiaofei Xu Xiaofei Xu Chinese authorities issued a notice on Friday that tightened regulations on virtual currency trading, expanding Beijing’s crackdown on cryptocurrencies to the tokenisation of real world assets (RWA). Onshore RWA tokenisation activities and related intermediary or technology services for securities issuance, financial operations or fundraising were banned, according to the notice, which added that exceptions may apply in specific cases if approved by authorities. “Overseas entities and... https://www.scmp.com/business/cryptocurrency/article/3342751/china-tightens-crypto-crackdown-onshore-rwa-tokenisation-ban?utm_source=rss_feed https://www.scmp.com/business/cryptocurrency/article/3342751/china-tightens-crypto-crackdown-onshore-rwa-tokenisation-ban?utm_source=rss_feed Sat, 07 Feb 2026 06:20:40 +0000 Reuters Reuters South Korean cryptocurrency exchange Bithumb said on Saturday it had accidentally given away more than US$40 billion worth of bitcoin to customers as promotional rewards, triggering a sharp sell-off on the exchange. Bithumb apologised for the mistake, which took place on Friday, and said it had recovered 99.7 per cent of the 620,000 bitcoin, worth about US$44 billion at current prices. It had restricted trading and withdrawals for the 695 affected customers within 35 minutes of the erroneous... https://www.scmp.com/news/asia/east-asia/article/3342749/south-koreas-bithumb-gives-away-over-us40-billion-bit-blunder?utm_source=rss_feed https://www.scmp.com/news/asia/east-asia/article/3342749/south-koreas-bithumb-gives-away-over-us40-billion-bit-blunder?utm_source=rss_feed Sat, 07 Feb 2026 05:03:06 +0000 Leopold Chen Leopold Chen Bitcoin’s collapse has prompted some retail investors in Hong Kong to snap up the world’s largest cryptocurrency after its value fell by more than half from its peak. According to crypto asset data tracker CoinGecko, the price of bitcoin slumped to almost US$60,000 on Friday morning, Hong Kong time, less than half its historical high of US$124,000 in October 2025. The slump also erased US$2 trillion from the overall digital asset market over the period. On Friday afternoon, dozens of residents... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3342689/bargain-hunting-hong-kong-retail-investors-snap-bitcoin-amid-crypto-crash?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3342689/bargain-hunting-hong-kong-retail-investors-snap-bitcoin-amid-crypto-crash?utm_source=rss_feed Fri, 06 Feb 2026 11:09:45 +0000 Xinmei Shen Xinmei Shen US Treasury Secretary Scott Bessent said he “would not be surprised” if China is already looking into ways to challenge the US’ pre-eminence in digital assets, given Hong Kong's efforts to develop the industry. When testifying before the Senate Banking Committee on Thursday, Bessent said that there are “lots of rumours of Chinese digital assets” possibly being backed by something other than its currency yuan, such as gold, but that the US could not confirm such claims. “We don’t know that for... https://www.scmp.com/news/us/article/3342569/us-treasury-chief-warns-china-could-challenge-us-digital-asset-lead-hong-kong?utm_source=rss_feed https://www.scmp.com/news/us/article/3342569/us-treasury-chief-warns-china-could-challenge-us-digital-asset-lead-hong-kong?utm_source=rss_feed Thu, 05 Feb 2026 20:12:01 +0000 Reuters Reuters Bitcoin plunged on Thursday, its decline accelerating amid weakening risk sentiment driven in part by volatility in precious ‍metals and a broad sell-off in tech shares. The world’s largest cryptocurrency fell to a low of US$66,675.12, its weakest since October 2024, a month before Republican Donald Trump won the US presidential election, having signalled his intention to support cryptocurrency on the campaign trail. It was last down 6.5 per cent at US$67,817. In total, the global digital market... https://www.scmp.com/news/world/united-states-canada/article/3342555/bitcoin-dips-below-us70000-wiping-out-gains-trump-election-win-amid-warsh-fed-fears?utm_source=rss_feed https://www.scmp.com/news/world/united-states-canada/article/3342555/bitcoin-dips-below-us70000-wiping-out-gains-trump-election-win-amid-warsh-fed-fears?utm_source=rss_feed Thu, 05 Feb 2026 13:32:17 +0000 Eunice Xu Eunice Xu Hong Kong’s cryptocurrency investors remain cautiously optimistic despite a sharp market sell-off over the weekend that pushed major digital assets to months-long lows. Bitcoin slid to US$74,541 on Monday morning, its lowest level in 10 months, extending a decline of about 40 per cent from its record high above US$126,000. That peak had been fuelled in part by expectations of a more crypto-friendly stance from the Trump administration. Other major tokens also weakened, with Ethereum down more... https://www.scmp.com/business/article/3342126/hong-kong-crypto-investors-stay-cautious-upbeat-bitcoin-sell-deepens?utm_source=rss_feed https://www.scmp.com/business/article/3342126/hong-kong-crypto-investors-stay-cautious-upbeat-bitcoin-sell-deepens?utm_source=rss_feed Mon, 02 Feb 2026 13:30:17 +0000 Reuters Reuters Spanish police have detained a 38-year-old Chinese national who owned a ‌hair salon near Barcelona on suspicion of financing ‍the militant group Hamas through about €600,000 (US$715,000) in cryptocurrency transfers, regional police said on Friday. Investigators traced at least 31 crypto transactions ⁠from virtual wallets controlled by the suspect to addresses that are suspected of being linked to an entity used by the Islamist group, whose attack on Israel on October 7, ‍2023, triggered a... https://www.scmp.com/news/world/europe/article/3341897/spain-arrests-chinese-hair-salon-owner-funding-hamas-crypto?utm_source=rss_feed https://www.scmp.com/news/world/europe/article/3341897/spain-arrests-chinese-hair-salon-owner-funding-hamas-crypto?utm_source=rss_feed Fri, 30 Jan 2026 16:03:18 +0000 Associated Press Associated Press Dozens of South Koreans allegedly involved in online scams in Cambodia were returned to South Korea on Friday to face investigations in what was the largest group repatriation of Korean criminal suspects from abroad. The 73 South Korean suspects allegedly scammed fellow Koreans out of 48.6 billion won (US$33 million), according to a South Korean government statement. Upon arrival in South Korea’s Incheon Airport aboard a chartered plane, the suspects – 65 men and eight women – were sent to... https://www.scmp.com/news/asia/east-asia/article/3341017/73-south-koreans-repatriated-cambodia-face-probe-over-online-scams-involvement?utm_source=rss_feed https://www.scmp.com/news/asia/east-asia/article/3341017/73-south-koreans-repatriated-cambodia-face-probe-over-online-scams-involvement?utm_source=rss_feed Fri, 23 Jan 2026 09:50:08 +0000 Connor Mycroft Connor Mycroft Hong Kong’s finance chief has promoted the city’s regulatory regime for digital assets as “responsible and sustainable” at the annual World Economic Forum in Davos. Delivering opening remarks at a closed-door workshop on Tuesday, Financial Secretary Paul Chan Mo-po said finance and technology were “mutually reinforcing”, but a balanced approach was needed to support their development. Speaking about Hong Kong’s experience, Chan said digital assets could enhance transparency, strengthen risk... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3340594/hong-kong-promotes-responsible-and-sustainable-digital-asset-regime-davos?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3340594/hong-kong-promotes-responsible-and-sustainable-digital-asset-regime-davos?utm_source=rss_feed Tue, 20 Jan 2026 12:51:40 +0000