Topic
Bitcoin, released to the world in 2009 by a person or people called Satoshi Nakamoto, is not backed by a central bank or a government and is seen as an alternative payment system. In February 2013, Bitcoin went into the mainstream as a monetary crisis threatened to bankrupt Cyprus, seen as a safer bet. Early adopters of Bitcoin have been richly rewarded as the price has soared – in one case, a young Norwegian bought a house from an $850,000 windfall on a US$22 investment.
Proposals allowing retail investors to trade in big-cap cryptocurrency tokens on licensed platforms with regulatory oversight would enhance the city’s reputation for prudent financial innovation.
In light of the cryptocurrency industry’s crisis, insiders can no longer claim they are above regulation or that governments just don’t ‘get it’. The hype has turned out to be just like any other financial manias of the past
- The Asian finance hub’s upcoming spot cryptocurrency ETFs could attract regional investors who do not want to bother with US accounts and tax forms, experts say
- Hong Kong is the first major financial market to offer spot ether ETFs, but some were dismissive, noting the city’s small ETF market relative to the US
Bosera Asset Management, HashKey Capital, Harvest International and ChinaAMC are all working on spot crypto ETFs after the SFC’s first conditional approvals.
Crypto industry executives were touting the benefits of bitcoin at the four-day Web3 Festival amid anticipation for the approval of spot ETFs this month.
Hong Kong’s biggest licensed cryptocurrency exchange operator has launched a global trading platform, but it is not available in the US or China.
While there were fewer exhibitors this year, the Web3 Festival has attracted a more international crowd with 80 per cent of participants from outside the city.
Tether CEO Paolo Ardoino’s new venture Holepunch has launched a peer-to-peer messaging app called Keet to aid the mission of ‘financial freedom’.
Customers said they are still owed more than US$19 billion and hoped for a stiffer punishment for the disgraced cryptocurrency mogul.
The total volume of global illicit cryptocurrency transactions declined last year, but crime-related funds had an increasing preference for Chinese crypto mogul Justin Sun’s Tron blockchain, a new report says.
Readers discuss the current boom in AI stocks, and a large-scale cryptocurrency fraud.
Bitcoin halving, a once-every-four year event baked into the system, will slash the reward that is the main revenue stream for miners.
The Web3 video gaming unicorn has signed an MOU with Saudi Arabia’s state-backed science park, months after a US$50 million investment in its Neom smart city.
Prosecutors say Wen helped hide the source of money allegedly stolen by mastermind Qian Zhimin from nearly 130,000 Chinese investors in a US$6.3 billion fraud scheme.
After cutting costs by about 20 per cent throughout 2023, Hex Trust sees the cryptocurrency market’s revival ‘directly translating into profitability’ for the company.
Mainland cryptocurrency investors made US$1.15 billion in 2023 to rank fourth behind those in the US, the UK and Vietnam, according to a Chainalysis survey.
Australian computer scientist Craig Wright has been accused of lying about his identity to bully and intimidate developers in the cryptocurrency community.
The world’s most valuable cryptocurrency has been boosted by a flood of cash into new spot bitcoin exchange-traded funds and hopes that the US Fed will soon cut rates.
The 2025 Consensus, one of the world’s biggest cryptocurrency-themed conferences, will be held in Hong Kong as the city’s government woos global virtual asset businesses in an effort to become a hub.
Blockchain is shaking up the financial sector and, given the popularity of bitcoin exchange-traded funds, regulators will need to step up their game when it comes to consumer protection and oversight, says the president and chief executive of fund manager Franklin Templeton.
Wild fluctuations in bitcoin’s value remain the norm, and cryptocurrencies have yet to enter the mainstream, an Economic Daily article says.
The increased interest in bitcoin reflects how a community of cryptocurrency enthusiasts on the mainland continues to thrive, despite a sweeping government ban.
Readers discuss Hong Kong’s strong track record of getting back on its feet, the international media narrative around the city, and what to make of the divine guidance offered by the Che Kung Temple.
Bitcoin jumped to US$50,000 for the first time in more than two years, staging a remarkable comeback from a series of cryptocurrency industry scandals and bankruptcies that had raised questions about the viability of digital assets.
The east African nation has emerged as a haven for Chinese bitcoin miners, who were forced out of their home country after Beijing imposed a crypto ban.
Australian computer scientist Craig Wright entered the witness box at the London High Court on Tuesday and testified he was the man behind ‘Satoshi Nakamoto,’ the pseudonym for the creator of bitcoin.
The SFC issued a notice on Monday reminding investors that a number of new licence applicants are not yet approved and pose risks.
Hong Kong is set to develop a more flexible regime for cryptocurrency exchange-traded funds, even though the US leads in both approval speed and market size, according to industry experts.
HashKey is one of the cryptocurrency firms banking on Hong Kong’s push to embrace the virtual asset industry, even as public perception of the sector plunged following the FTX and JPEX scandals.
The successful US launch of spot bitcoin exchange-traded funds is expected to help move Hong Kong regulators closer to authorising similar cryptocurrency funds to operate in the city.
