As cash becomes increasingly obsolete and inconvenient, the future of payments is digital. Major central banks are simply adjusting to this new reality.
As a leading international financial hub, the city has an important e-CNY role to play when it comes to global trade and business.
The implosion of JPEX is likely to make the public more cautious about investing in cryptocurrencies, but sentiment may improve in the long run, experts say.
Lawmaker and Exco member Jeffrey Lam says SFC wording ‘is so esoteric that many people don’t understand them’.
Suspects include social media influencer, YouTubers, director of restaurant group and corporate secretary of JPEX Technical Support Company, since renamed.
Joseph Lam addresses the media over his involvement in cryptocurrency platform JPEX, which is at the centre of city’s largest alleged scam of its kind.
Source says police have enlisted help of Interpol and virtual asset trading platforms as they track down funds amid fraud allegations targeting JPEX cryptocurrency company.
Readers discuss the flaws in the city’s cryptocurrency landscape that must be addressed, an opportunity to commemorate a legendary Colombian artist, and unsafe driving in the city
The embattled cryptocurrency exchange has laid out plans to attract new investors with promises of dividends, while it continues to lash out at Hong Kong regulators.
JPEX last year announced Cheung would serve as trading platform’s local ‘brand ambassador’, as part of wider promotional campaign.
The sudden blow-up of crypto exchange JPEX may turn into Hong Kong’s largest ever financial fraud but many questions remain over the firm’s structure and backers.
Investor and Financial Education Council also warns more young people drawn to virtual trading, urges users to ensure platforms are licensed and to do proper research.
Chief Executive John Lee says authorities will conduct more investor education after police receive over 1,600 complaints alleging fraud against cryptocurrency exchange.
Sources say ex-lawyer turned internet figure and YouTuber Chan Yee detained on suspicion of conspiracy to defraud, with ‘about HK$1 billion’ involved.
Police have received at least 83 complaints related to platform, involving virtual assets worth about HK$34 million.
Hong Kong is poised to assume a greater role in the international banking sector with the appointment of Eddie Yue Wai-man to a key position at the bank for central banks, analysts say.
Commissioner of Police Raymond Siu urges other victims to come forward, days after securities regulator names and shames JPEX for dubious practices.
Seven of the 10 Chinese suspects arrested in Singapore’s massive money-laundering probe held foreign passports from the likes of Cambodia and Vanuatu, where citizenship can be bought for as little as US$130,000.
Hong Kong and mainland China both fell one spot for 47th and 11th, respectively, as lower-middle-income countries like India and Vietnam show a greater appetite for crypto.
The Securities and Futures Commission said JPEX is misleading investors about being licenced in Hong Kong and accused the exchange of having ‘suspicious features’.
Brian Shroder has left the crypto trading platform, which is facing charges from the US Commodity Futures Trading Commission and under investigation by the Justice Department.
Eric Jing Xiandong said the e-CNY could be as valuable to industrial internet use as mobile payments were for consumer use.
The accounts of the influencers, each with more than 8 million followers, breached regulations that restrict speculation, trading and promotion of virtual assets, Weibo says.
The scandal has raised questions about crash barriers against illicit money flowing into one of the world’s most important financial hubs.
The Hong Kong arm of Swiss crypto-focused SEBA Bank is aiming to become one of the first licensed companies in the city to ‘conduct investment services with crypto capabilities’.
Readers discuss how to turn bitcoin mining into a green industry, the baby-unfriendly environment in Hong Kong, and the eco-friendliness of designated garbage bags.
One of Hong Kong’s first licensed cryptocurrency exchanges has officially started accepting retail users, allowing them to trade bitcoin and ether directly with fiat currencies.
A local court issued the sentence for the former provincial official accused of accepting bribes and hiding crypto mining that used a tenth of Fuzhou electricity.
The MoonPay tie-up will allow users to buy Tether using Apple Pay, Google Pay and credit cards, then use the stablecoin to buy other crypto tokens.
King Charles grants a new bill and Prime Minister Rishi Sunak says he’s determined to turn ‘the UK into the world’s Web3 centre’.