News
Hong Kong prepares the third batch of tokenized bonds and unveils a sweeping digital asset strategy to solidify its role as Asia’s crypto finance leader.
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Hong Kong News
Hong Kong, officially the Hong Kong Special Administrative Region of the People's Republic of China, is an administrative district of China and one of the leading economic centers not only in Asia, but in the world. The main feature of the district is that it has the right to craft its own legislation. The economy of the territory has a free market, low taxes and governmental non-interference, all of which attracts people to use virtual currencies on the market. The attitude toward cryptocurrency differs between China and Hong Kong, as the first one has banned both the use of digital currencies as a payment and conducting ICO. In Hong Kong, there has not yet been any regulation of Bitcoin and the government doesn’t see any necessity for implementing any. The cryptocurrency market in Hong Kong has various platforms and projects, which makes this area very decent for related businesses.
- Analysis
Bitcoin adoption grew considerably in June, with 26 firms adding it to their balance sheets; meanwhile, Bitcoin’s hashrate fell 15%.
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Hong Kong updated its digital asset strategy regarding stablecoin licensing and tokenization of real-world assets by introducing its LEAP framework for market growth.
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VMS Group is looking to invest up to $10 million with Re7 Capital strategies, as it hopes to diversify into more liquid investments, according to managing partner Elton Cheung.
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Hong Kong tech investment firm MemeStrategy has added Solana to its balance sheet and has pledged to stake Solana tokens to support network security and earn rewards.
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Hong Kong Customs and Excise Department teams up with the University of Hong Kong to build a crypto tracking tool amid a rise in money laundering cases involving digital assets.
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Ant International plans to apply for stablecoin licenses in Hong Kong and Singapore, signaling growing fintech interest in regulated crypto payment systems, Bloomberg reported.
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Singapore’s ousting of unlicensed firms was not a sudden move and it’s among several regions tightening licensing duties.
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Crypto policy developments may result in a Bitcoin cycle top of over $150,000, according to the head of US at Foresight Ventures.
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Hong Kong reportedly plans to permit crypto derivatives for professional investors and expand its fintech ecosystem.
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Hong Kong's Legislative Council has passed the Stablecoin Bill, paving the way for licensed fiat-backed stablecoin issuers by year-end and positioning the region as a potential global Web3 hub.
6120 - Analysis
Several countries have announced multibillion-dollar plans to build out the world’s crypto hub, but five of the world’s financial centers stand out.
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Hong Kong police have arrested 12 people tied to a $15 million crypto laundering operation, which was dismantled on the same day.
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Hong Kong-rooted DDC has acquired 100 Bitcoin as part of its BTC reserve plan to acquire 5,000 BTC in the next 36 months.
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Metaplanet has reached 50% of its goal to accumulate 10,000 BTC by the end of 2025 following its latest purchase.
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