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.
Micree Zhan released a scathing letter directed towards fellow Bitmain co-founder Jihan Wu, offering to buy out control of the company.
Ousted Bitmain Co-Founder Offers to Buy $4 Billion in Shares
Nearly 40% of new fintech firms to launch in Hong Kong over the past year are operating in the blockchain sector.
40% of New Fintech Firms in Hong Kong Operate With Blockchain
Arrano Capital, the blockchain arm of Venture Smart Asia, announced they had met the regulatory requirements in HK to launch a crypto fund.
Hong Kong’s First Approved Crypto Fund Seeks $100M Target
Hong Kong Stock Exchange-listed BC Group, the operator of institution-focused digital assets trading platform OSL, reported a 737% increase in revenue in 2019.
Institution-Focused Crypto Trading Platform Reports 737% Revenue Increase in 2019
The U.S. Department of Homeland Security named blockchain managers as essential critical infrastructure amid the coronavirus lockdown.
DHS Names Blockchain Managers Among Critical Infrastructure Workers
Hong Kong and Abu Dhabi are the latest jurisdictions to amend their crypto regulations in light of the FATF’s recommendations.
Hong Kong and Abu Dhabi Change Crypto Regulations to Align With FATF
Binance now offers both deposits and withdrawals in Hong Kong dollars without deposit fees.
Crypto Exchange Binance Adds Hong Kong Dollars to Fiat Gateway