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Blockchain

Hong Kong’s bitcoin exchange-traded funds have so far been off limits to mainland investors, but some see hope in new measures aimed at financial opening in the Greater Bay Area. Photo: Shutterstock
Digital currencies

Hong Kong bitcoin ETFs could open to some mainland investors under new measures

New rules further opening up China’s financial markets could give some mainlanders access to cryptocurrency investment products for the first time.

Blockchain

Trump’s meme coin draws billions in crypto trading volume

Blockchain

Trump plans to make cryptocurrency a national priority, sources say

Blockchain

BitMEX fined US$100 million for violating anti-money-laundering laws

Prosecutors accuse BitMEX and its founders of failing to adopt anti-money-laundering and “know your customer” programmes.

BitMEX has been fined US$100 million for anti-money-laundering violations. Photo: SCMP
BitMEX has been fined US$100 million for anti-money-laundering violations. Photo: SCMP
Tencent

US trade office removes Tencent’s WeChat from counterfeit sellers list

WeChat was among six online Chinese platforms and nine bricks-and-mortar sellers added to the counterfeit goods list in 2022.

Blockchain

Bitcoin doubles in 2024, as analysts expect more gains in 2025

‘We remain convinced US$100,000 is not the final milestone,’ analysts at brokerage Bernstein say.

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Cryptocurrency

China’s new forex rules require banks to tighten scrutiny on crypto trades

The State Administration of Foreign Exchange wants banks to monitor and report risky trades, including those involving cryptocurrencies.

China’s foreign exchange regulator has tightened scrutiny on commercial activities involving bitcoin and other cryptocurrencies. Photo: Shutterstock
China’s foreign exchange regulator has tightened scrutiny on commercial activities involving bitcoin and other cryptocurrencies. Photo: Shutterstock
Blockchain

Bitcoin rally loses steam in final days of record-breaking year

Bitcoin and its smaller rivals are struggling for traction, after the largest cryptocurrency surged to a record high last week.

Digital currencies

As stablecoin bill advances in Hong Kong legislature, advocates trumpet it

Stablecoins have the ability to expand their usage in the real financial economy, according to industry experts.

Cryptocurrency

Bitcoin records first weekly decline since Donald Trump’s US election victory

The original cryptocurrency was down more than 7 per cent for the seven-day period through 9:27am on Monday in Singapore.

The US Federal Reserve’s third straight interest-rate cut dampened the speculative spirits unleashed in the cryptocurrency market by Donald Trump’s pledge of friendly regulations. Photo: EPA-EFE
Digital currencies

Hong Kong licenses 4 more crypto exchanges amid bitcoin price surge

The approvals bring the total number of licenced virtual asset firms to seven, as Hong Kong moves to revive its crypto industry.

People stand next to bitcoin ATMs outside a cryptocurrency exchange in Hong Kong on November 14. Photo: AFP
People stand next to bitcoin ATMs outside a cryptocurrency exchange in Hong Kong on November 14. Photo: AFP
Cryptocurrency

Chinese fund touts offshore crypto exposure amid bitcoin boom

The fund boasted in the ad that it is heavily invested in Coinbase, a US cryptocurrency exchange listed in New York.

Digital currencies

US bankers cautious about crypto amid expectations of regulatory easing

Goldman Sachs CEO David Solomon said the Wall Street giant would ‘evaluate’ dealing in top cryptocurrencies like bitcoin and ether if rules change.

Semiconductors

China launches antitrust probe into US chip giant Nvidia in tech war escalation

The action is an apparent response to Washington’s tightened chip restrictions against China.

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Nvidia chief executive Jensen Huang delivers a speech at an event on artificial intelligence in Tokyo on November 13, 2024. Photo: Kyodo
Digital currencies

Hong Kong’s crypto faithful favour local regulations, fear ‘unpredictable’ Trump

The chair of the Silk Road Economic Development Research Centre said the city still has a chance to lead in Web3 in the next decade.

Some still see room for Hong Kong to be a global leader in cryptocurrency, even as momentum shifts to the US in anticipation of Donald Trump’s return to the presidency. Photo: Shutterstock
Some still see room for Hong Kong to be a global leader in cryptocurrency, even as momentum shifts to the US in anticipation of Donald Trump’s return to the presidency. Photo: Shutterstock
Digital currencies

Hong Kong to introduce stablecoin bill to regulate virtual token

The government published the Stablecoins Bill in the gazette on December 6; first reading in the Legislative Council set for December 18.

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Digital currencies

China’s selfie app Meitu sells all crypto before bitcoin hit US$100,000

Meitu netted US$80 million on bitcoin and ether holdings, exiting the crypto market amid a historic rally after the US re-elected Donald Trump.

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Cryptocurrency

Bitcoin tops US$100,000 for the first time on Trump crypto bump

Bitcoin has more than doubled in value this year and is up more than 45% in the four weeks since Trump’s election win.

Bitcoin tokens and a price chart are seen in this illustration picture taken November 21, 2024. Photo: Reuters
Bitcoin tokens and a price chart are seen in this illustration picture taken November 21, 2024. Photo: Reuters
Digital currencies

Bybit CEO says Chinese can trade crypto though VPN, but not with yuan

Bybit CEO Ben Zhou says the company plans to reapply for a Hong Kong licence next year even though regulators bar selling crypto to mainlanders.

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Digital currencies

Decentralised kingdom: bitcoin’s Trump bump and how China lost its crypto crown

As the world’s factory, China cornered the market on bitcoin mining, leading to a flurry of crypto business activity before a harsh crackdown in 2021.

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Blockchain

Hong Kong offers grants to boost tokenised bond issuance

The city’s de facto central bank is handing out up to HK$2.5 million in subsidies per issuance to qualified tokenised-bond issuers.

The HKMA plans to hand out subsidies to qualified companies to boost tokenised-bond issuances in the city. Photo: AFP
Cryptocurrency

Justin Sun invests US$30 million in Trump crypto tokens after banana artwork deal

Sun’s moves come amid booming cryptocurrency prices fuelled by excitement around the re-election of former US president Donald Trump.

Donald Trump gestures at the Bitcoin 2024 event in Nashville, Tennessee, US, July 27, 2024. Photo: Reuters
Donald Trump gestures at the Bitcoin 2024 event in Nashville, Tennessee, US, July 27, 2024. Photo: Reuters
Semiconductors

Nvidia meets Chinese trade negotiator as fresh US chip sanctions loom

China’s top trade negotiator and key figure during Trump’s first term met Nvidia’s global business head amid reports of fresh US export restrictions.

Blockchain

Bitcoin’s march towards historic US$100,000 level stalls

‘Bitcoin was extremely overbought since the election,’ one analyst says.

Blockchain

Bitcoin hits US$97,000 as crypto sector seeks White House post

The world’s largest digital asset reaches an all-time high in Asia on Thursday.

US President-elect Donald Trump at the Bitcoin 2024 event in Nashville, Tennessee, in July. Photo: Reuters
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