China was once a major player in crypto mining, attracting companies with its low energy costs and favourable regulations. By 2021, it accounted for approximately 70% of global mining activity. In 2019, President Xi Jinping’s push for blockchain technology further solidified China’s technological edge over the United States. However, this changed in May 2021 when…
Hong Kong has seen the biggest uptick in cryptocurrency activity in East Asia amid the city’s efforts to become a virtual-asset hub, according to new research, while mainland Chinese use digital currencies to preserve wealth in spite of the government’s draconian ban. The city rose to 30th place, up from the No 47 spot last…
Hong Kong is a “strong contender” for a potential listing of crypto venture investor and blockchain game developer Animoca Brands Corp., its Chairman Yat Siu said. That’s in part because the company is headquartered in the city, where digital-asset related activity has expanded as officials seek to develop a crypto hub, Siu said in a…
The city rose to 30th place, up from the No 47 spot last year, in this year’s Global Cryptocurrency Adoption Index rankings published on Wednesday by research firm Chainalysis. It said Hong Kong saw an 85.6 per cent year-on-year surge in cryptocurrency transaction value, the largest growth seen in East Asia. Hong Kong regulators’ acceptance…
Hong Kong police have arrested 14 people in a crackdown on a cross-border syndicate that allegedly laundered more than HK$230 million (US$29.5 million) from bank accounts linked to dozens of job and investment scams, with victims losing more than HK$18 million. Chief Inspector Lo Yuen-shan of the commercial crime bureau said on Friday that members…