China is not a fan of cryptocurrencies. Over the past decade, the Chinese government has built up one of the world’s most hostile regulatory frameworks against cryptocurrency-related activities, including trading and mining. Beijing views digital assets like bitcoin as a threat to the country’s financial stability and capital account controls, and even a challenge to…
In the days after Hong Kong passed a bill to regulate stablecoins on May 21, people in the industry celebrated the government’s forward-looking stance on the cryptocurrency assets, but its stringent requirements – similar to how it regulated other virtual assets – could be a double-edged sword in the near term. “Regular independent audits and…
The cryptocurrency industry has continued to advance, with bitcoin prices hitting a record high earlier this week. Stablecoins have come under the spotlight as regulators in Hong Kong and the US push for legislation for the popular tokens. Here we answer five common questions about stablecoins. What are stablecoins and how are they used? Stablecoins…
The Tether (USDT) stablecoin logo. Costfoto | Nurphoto | Getty Images Hong Kong passed a stablecoin bill on Wednesday to expand its cryptocurrency licensing regime as more governments recognize the digital asset. Unlike volatile digital assets like bitcoin, the value of stablecoins is tied to a real-world asset like fiat currencies or commodities like gold….
Hong Kong police have dismantled a cross-border syndicate that allegedly laundered HK$118 million (US$15 million) through stooge bank accounts, arresting 12 people as officials seek tougher sentencing for those renting or selling their personal details. The force said on Saturday that it had arrested nine men and three women aged between 20 and 40 across…
Hong Kong police have dismantled a cross-border syndicate that laundered HK$118 million (US$15 million) through stooge bank accounts, arresting 12 people as officials seek tougher sentencing for those renting or selling their personal bank details. In an operation conducted by the commercial crime bureau, police arrested nine men and three women aged between 20 and…
Buyers spent more than $140 million to snap up $TRUMP meme coins in a bid to secure an invitation to an “intimate dinner” with President Trump, according to data analytics firm Inca Digital. On April 23, the digital currency got a boost when it announced that its top 220 holders as of May 12 would be…