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…
Nearly 100 Hongkongers have been scammed out of HK$90 million (US$11.6 million) in just one week by online fraudsters posing as investment experts to lure victims into betting on cryptocurrency and stocks by offering fake insider knowledge and tips. One 84-year-old businessman suffered the largest single loss when he was deceived into investing in cryptocurrency,…
Hong Kong is the second-most friendly city to cryptocurrencies in the world, according to a new report by migration platform Multipolitan, which highlights the market as a hub for attracting industry wealth, talent and innovation. The city ranked just behind Ljubljana, capital of Slovenia, in the Crypto Friendly Cities Index, released on Thursday as part…
Scammers stole a record $16.6 billion in 2024, the FBI said on Wednesday. That marked a 33% increase from 2023, according to the FBI’s Internet Crime Complaint Center’s annual report. More than a quarter million complaints reported money lost to a scam, with an average of a loss of more than $19,000. “As nearly all aspects…
President Trump’s meme coin, which had slumped 88% from its most recent high, got a boost Wednesday after its website invited the top 220 holders of the digital token to an “intimate private dinner” with the president. After the dinner offer was posted on the $TRUMP meme coin website and X account, the value of…
Chinese officials are arguing for cryptocurrency regulations to deal with seized assets. Despite a trading ban, Chinese local governments have reportedly been selling seized crypto assets through private companies. While mainland China continues to uphold its cryptocurrency ban, Hong Kong is pushing to become a cryptocurrency hub. Once the leading cryptocurrency trading and mining hub,…