The expected increase in market demand for stablecoins will encourage licensed institutions overseas to issue such cryptocurrencies in Hong Kong, boosting competitiveness, the finance minister has said as the city prepares for a regulatory regime to take effect in August. In his weekly blog on Sunday, Financial Secretary Paul Chan Mo-po said that the market…
The expected increase in market demand for stablecoins will encourage licensed institutions overseas to issue such cryptocurrencies in Hong Kong, boosting competitiveness, the finance minister has said as the city prepares for a regulatory regime to take effect in August. In his weekly blog on Sunday, Financial Secretary Paul Chan Mo-po said that the market…
Fintech firm Ant International, the global affiliate of Chinese tech giant Ant Group, said it would apply for a stablecoin issuer licence in Hong Kong once the new ordinance governing fiat-backed cryptocurrencies comes into effect in August. “We welcome the passage of the Stablecoins Bill … and hope to contribute more to the city’s vision…
Beijing’s police authority has unveiled a plan for liquidating cryptocurrencies confiscated in criminal cases by selling them through licensed exchanges in Hong Kong, a move that could aid the southern city’s efforts to become a virtual asset hub. The municipal Public Security Bureau in Beijing said on Thursday that it has partnered with the China…
Photo: Spencer Platt (Getty Images) With post-election gains in the rear-view mirror, Morgan Stanley’s (MS) chief U.S. equity strategist is raising some concerns about the fate of the S&P 500 through at least June. The gist? The Trump bump may morph into a protracted slump. Read More Source link
Photo: David Paul Morris/Bloomberg (Getty Images) In This Story The S&P 500 and Nasdaq Composite indexes fell sharply Tuesday after February consumer confidence missed expectations, coming in at 98.3 compared with the consensus of 103.0, and down from 105.3 in January. It was the worst decline since August. U.S. government debt rallied and the dollar…
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Hong Kong resident Alan Chew* was aware that scamming had become rampant and believed he had done everything right after coming across an online investment opportunity. Yet, over four months from last October, he lost HK$1.3 million (US$145,100) of his life savings to scammers who persuaded, cajoled and threatened him over WhatsApp messages into parting…
Cryptocurrency-linked stocks sank on Monday after a Chinese AI model shook investors, sparking a retreat from risky assets and pummeling shares of companies that were set to benefit from demand for AI data centers. Shares of the crypto-mining firm Core Scientific fell around 30%, while fellow mining companies like Hut 8, Riot Platforms and Cipher…
Elon Musk has initiated conversations about using blockchain technology at the new Department of Government Efficiency, according to people with knowledge of the discussions. It’s the latest sign of the Trump administration’s efforts to bolster the digital asset industry. Musk, who heads the DOGE effort, has mused to close allies about the idea of using…